Bloom Energy Co. (NYSE:BE) Receives $24.47 Average Price Target from Analysts

Shares of Bloom Energy Co. (NYSE:BE) have earned a consensus recommendation of “Hold” from the twenty-one brokerages that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $24.67.

BE has been the subject of a number of research analyst reports. Roth Mkm started coverage on Bloom Energy in a research report on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 price target for the company. Robert W. Baird lifted their price target on Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. UBS Group lifted their price target on Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Susquehanna lifted their price target on Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a research note on Friday, December 6th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Bloom Energy in a research note on Friday, February 28th.

Insiders Place Their Bets

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction of $38,385.38. Following the transaction, the insider now owns 171,040 shares of the company’s stock, valued at $4,005,756.80. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction on Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the completion of the transaction, the insider now owns 178,656 shares in the company, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BE. Millburn Ridgefield Corp grew its position 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 acquiring an additional 528 shares during the period. Mainstream Capital Management LLC purchased a new stake in Bloom Energy during the fourth quarter valued at about $28,000. Smartleaf Asset Management LLC grew its position in Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after acquiring an additional 934 shares during the period. Jones Financial Companies Lllp grew its position in Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after acquiring an additional 812 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Bloom Energy during the third quarter worth approximately $34,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Stock Performance

NYSE BE opened at $23.88 on Friday. The business has a 50 day moving average price of $24.08 and a 200 day moving average price of $19.14. The company has a market capitalization of $5.50 billion, a P/E ratio of -42.64 and a beta of 3.30. Bloom Energy has a 1-year low of $9.02 and a 1-year high of $29.83. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.

Bloom Energy Company Profile

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.