Bloom Energy (NYSE:BE) Price Target Raised to $19.50

Bloom Energy (NYSE:BE) had its price target boosted by BMO Capital Markets from $12.00 to $19.50 in a report released on Friday,Benzinga reports. The brokerage currently has a market perform rating on the stock.

BE has been the topic of a number of other reports. Jefferies Financial Group lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and reduced their target price for the stock from $15.00 to $11.00 in a research report on Friday, September 6th. Bank of America reduced their target price on shares of Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a research report on Thursday, November 7th. Truist Financial reduced their target price on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday, October 16th. UBS Group reduced their target price on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Finally, Piper Sandler raised shares of Bloom Energy from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $10.00 to $20.00 in a research report on Friday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $16.05.

Bloom Energy Trading Up 59.2 %

Bloom Energy stock traded up $7.86 during midday trading on Friday, reaching $21.14. The stock had a trading volume of 63,748,498 shares, compared to its average volume of 6,255,194. 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 firm has a market cap of $4.81 billion, a price-to-earnings ratio of -37.76 and a beta of 2.71. The company has a fifty day moving average of $10.82 and a 200 day moving average of $12.27.

Institutional Investors Weigh In On Bloom Energy

Several institutional investors have recently bought and sold shares of the company. Millburn Ridgefield Corp lifted its stake in shares of Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after buying an additional 528 shares during the period. Xponance Inc. lifted its stake in shares of Bloom Energy by 7.8% during the second quarter. Xponance Inc. now owns 12,542 shares of the company’s stock worth $154,000 after buying an additional 903 shares during the period. Kovitz Investment Group Partners LLC lifted its stake in shares of Bloom Energy by 3.9% during the third quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company’s stock worth $374,000 after buying an additional 1,349 shares during the period. Arizona State Retirement System lifted its stake in shares of Bloom Energy by 2.7% during the second quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock worth $696,000 after buying an additional 1,470 shares during the period. Finally, Tocqueville Asset Management L.P. lifted its stake in shares of Bloom Energy by 3.1% during the first quarter. Tocqueville Asset Management L.P. now owns 59,250 shares of the company’s stock worth $666,000 after buying an additional 1,800 shares during the period. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.