Bloom Energy Co. (NYSE:BE) Receives $14.92 Consensus Target Price from Analysts

Shares of Bloom Energy Co. (NYSE:BE) have been given an average recommendation of “Moderate Buy” by the twenty brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $16.05.

Several research analysts have recently commented on BE shares. Piper Sandler upgraded Bloom Energy from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $10.00 to $20.00 in a research report on Friday. Truist Financial decreased their target price on Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, October 16th. BMO Capital Markets lifted their target price on Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a research report on Friday. Jefferies Financial Group lowered Bloom Energy from a “buy” rating to a “hold” rating and decreased their target price for the stock from $15.00 to $11.00 in a research report on Friday, September 6th. Finally, UBS Group decreased their target price on Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 15th.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors and hedge funds have recently modified their holdings of BE. Electron Capital Partners LLC raised its position in shares of Bloom Energy by 131.5% during the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after purchasing an additional 1,790,733 shares during the period. JAT Capital Mgmt LP grew its holdings in shares of Bloom Energy by 50.0% during the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock valued at $23,221,000 after buying an additional 733,363 shares in the last quarter. Artemis Investment Management LLP purchased a new position in shares of Bloom Energy during the second quarter valued at $7,502,000. DigitalBridge Group Inc. grew its holdings in shares of Bloom Energy by 66.3% during the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after buying an additional 462,581 shares in the last quarter. Finally, Pier Capital LLC purchased a new position in shares of Bloom Energy during the second quarter valued at $5,602,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Bloom Energy Price Performance

BE stock opened at $21.15 on Monday. The company has a quick ratio of 3.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. Bloom Energy has a 52-week low of $8.41 and a 52-week high of $22.50. The stock’s 50 day moving average is $10.82 and its two-hundred day moving average is $12.27. The company has a market capitalization of $4.81 billion, a PE ratio of -37.76 and a beta of 2.71.

About Bloom Energy

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.