Bloom Energy (NYSE:BE) Stock Price Expected to Rise, Piper Sandler Analyst Says

Bloom Energy (NYSE:BE) had its target price upped by Piper Sandler from $30.00 to $33.00 in a report released on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

BE has been the subject of several other reports. JPMorgan Chase & Co. increased their target price on shares of Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Jefferies Financial Group raised their price objective on shares of Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. BTIG Research upped their target price on shares of Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Morgan Stanley increased their price target on Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Finally, Royal Bank of Canada boosted their price objective on Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $23.13.

Bloom Energy Stock Performance

NYSE:BE opened at $22.40 on Monday. The stock has a 50-day simple moving average of $24.65 and a two-hundred day simple moving average of $16.36. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. Bloom Energy has a 52-week low of $8.41 and a 52-week high of $29.83. The firm has a market capitalization of $5.12 billion, a PE ratio of -40.00 and a beta of 3.06.

Insider Activity

In related news, CEO Kr Sridhar sold 72,903 shares of Bloom Energy stock in a transaction dated 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 transaction, the chief executive officer now directly owns 1,869,593 shares of the company’s stock, valued at approximately $46,777,216.86. The trade was a 3.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shawn Marie Soderberg sold 1,639 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the sale, the insider now directly owns 171,040 shares in the company, valued at $4,005,756.80. This trade represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 122,528 shares of company stock valued at $3,061,501 in the last ninety days. Insiders own 8.81% of the company’s stock.

Institutional Trading of Bloom Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Millburn Ridgefield Corp grew its holdings in shares of Bloom Energy by 29.2% in the third 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. Wilmington Savings Fund Society FSB bought a new position in Bloom Energy in the 3rd quarter worth about $34,000. Avior Wealth Management LLC purchased a new position in shares of Bloom Energy during the fourth quarter worth approximately $40,000. GAMMA Investing LLC raised its stake in shares of Bloom Energy by 26.8% during the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock valued at $60,000 after acquiring an additional 569 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Bloom Energy in the third quarter valued at approximately $74,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

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.