Bloom Energy (NYSE:BE) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Bloom Energy (NYSE:BE) had its target price hoisted by Robert W. Baird from $15.00 to $32.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Other analysts also recently issued research reports about the company. Royal Bank of Canada upped their price target on Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Roth Mkm started coverage on Bloom Energy in a research note on Wednesday. They issued a “neutral” rating and a $25.00 target price on the stock. Marathon Capitl raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. UBS Group increased their price objective on shares of Bloom Energy from $21.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Hsbc Global Res raised shares of Bloom Energy to a “hold” rating in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $21.92.

Bloom Energy Trading Up 3.1 %

BE opened at $25.59 on Thursday. The stock has a market cap of $5.85 billion, a PE ratio of -45.70 and a beta of 3.04. The business has a 50 day moving average of $16.89 and a 200-day moving average of $14.00. Bloom Energy has a 52 week low of $8.41 and a 52 week high of $28.70. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09.

Insider Transactions at Bloom Energy

In other news, CEO Kr Sridhar sold 72,903 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the completion of the sale, the chief executive officer now owns 1,869,593 shares of the company’s stock, valued at $46,777,216.86. The trade was a 3.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shawn Marie Soderberg sold 1,289 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $24.56, for a total value of $31,657.84. Following the completion of the transaction, the insider now directly owns 168,561 shares in the company, valued at approximately $4,139,858.16. This represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,975 shares of company stock worth $3,045,019 in the last quarter. Company insiders own 8.81% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BE. Millburn Ridgefield Corp lifted its holdings in Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after purchasing an additional 528 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Bloom Energy during the 3rd quarter valued at $34,000. ORG Partners LLC bought a new stake in shares of Bloom Energy during the 2nd quarter valued at $40,000. Quest Partners LLC boosted its holdings in Bloom Energy by 2,780.0% in the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after buying an additional 3,475 shares during the period. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in Bloom Energy in the 2nd quarter worth $53,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

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.