Bloom Energy (NYSE:BE) Price Target Raised to $30.00 at BTIG Research

Bloom Energy (NYSE:BE) had its price target lifted by BTIG Research from $20.00 to $30.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

BE has been the subject of a number of other research reports. Bank of America boosted their price target on Bloom Energy from $7.00 to $20.00 and gave the stock an “underperform” rating in a report on Monday, December 9th. Roth Capital raised Bloom Energy to a “hold” rating in a research note on Tuesday, December 10th. Piper Sandler raised their price target on shares of Bloom Energy from $20.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Hsbc Global Res upgraded shares of Bloom Energy to a “hold” rating in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada increased their price objective on shares of Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $22.45.

Bloom Energy Stock Performance

Shares of NYSE:BE opened at $23.46 on Monday. The company’s 50 day simple moving average is $17.50 and its 200 day simple moving average is $14.12. 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 has a 1 year low of $8.41 and a 1 year high of $28.70. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of -41.89 and a beta of 3.04.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $24.56, for a total transaction of $31,657.84. Following the completion of the sale, the insider now directly owns 168,561 shares in the company, valued at approximately $4,139,858.16. This trade represents a 0.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kr Sridhar sold 72,903 shares of Bloom Energy stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total value 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. This trade represents a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 122,975 shares of company stock worth $3,045,019 over the last ninety days. 8.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Bloom Energy

Large investors have recently added to or reduced their stakes in the business. Millburn Ridgefield Corp lifted its stake in Bloom Energy by 29.2% in the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after buying an additional 528 shares during the period. Xponance Inc. lifted its position in shares of Bloom Energy by 7.8% during the 2nd quarter. Xponance Inc. now owns 12,542 shares of the company’s stock valued at $154,000 after acquiring an additional 903 shares during the period. Kovitz Investment Group Partners LLC lifted its position in shares of Bloom Energy by 3.9% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company’s stock valued at $374,000 after acquiring an additional 1,349 shares during the period. Arizona State Retirement System boosted its stake in 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 acquiring an additional 1,470 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Bloom Energy in the third quarter worth $34,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

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.