Bloom Energy (NYSE:BE) Price Target Raised to $28.00 at Royal Bank of Canada

Bloom Energy (NYSE:BE) had its price target raised by Royal Bank of Canada from $15.00 to $28.00 in a report published on Monday,Benzinga reports. They currently have an outperform rating on the stock.

BE has been the topic of several other research reports. Bank of America decreased their price target on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a report on Thursday, November 7th. Marathon Capitl upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Jefferies Financial Group downgraded shares of Bloom Energy from a “buy” rating to a “hold” rating and dropped their price objective for the company from $15.00 to $11.00 in a research note on Friday, September 6th. BMO Capital Markets lifted their target price on Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a research note on Friday, November 15th. Finally, UBS Group reduced their price target on Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.55.

Bloom Energy Trading Down 3.5 %

BE stock opened at $23.94 on Monday. Bloom Energy has a fifty-two week low of $8.41 and a fifty-two week high of $25.12. The firm has a market cap of $5.47 billion, a PE ratio of -44.27 and a beta of 2.71. The firm has a fifty day moving average price of $11.64 and a 200 day moving average price of $12.53. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 168,561 shares of the company’s stock, valued at approximately $4,139,858.16. This trade represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.81% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

Large investors have recently added to or reduced their stakes in the stock. Millburn Ridgefield Corp boosted its stake in Bloom Energy by 29.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after purchasing an additional 528 shares during the last quarter. ORG Partners LLC acquired a new stake in shares of Bloom Energy during the 2nd quarter worth approximately $40,000. Quest Partners LLC raised its position in shares of Bloom Energy by 2,780.0% during the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after buying an additional 3,475 shares during the period. Gilliland Jeter Wealth Management LLC purchased a new position in shares of Bloom Energy during the 2nd quarter worth $53,000. Finally, Mather Group LLC. purchased a new position in Bloom Energy during the second quarter worth about $66,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.