Bloom Energy (NYSE:BE) Given New $35.00 Price Target at Morgan Stanley

Bloom Energy (NYSE:BE) had its target price hoisted by Morgan Stanley from $28.00 to $35.00 in a research note issued to investors on Thursday,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

BE has been the subject of a number of other reports. JPMorgan Chase & Co. lifted their price target 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. Bank of America lowered their price target on shares of Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a report on Tuesday, January 28th. Mizuho started coverage on shares of Bloom Energy in a report on Tuesday. They set a “neutral” rating and a $28.00 price target for the company. Susquehanna lifted their price target on shares of Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a report on Friday, December 6th. Finally, Roth Capital upgraded shares of Bloom Energy to a “hold” rating in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $25.06.

Bloom Energy Stock Performance

NYSE:BE opened at $25.46 on Thursday. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The firm has a 50-day moving average price of $24.10 and a two-hundred day moving average price of $19.22. Bloom Energy has a twelve month low of $9.02 and a twelve month high of $29.83. The company has a market capitalization of $5.87 billion, a P/E ratio of -45.46 and a beta of 3.30.

Insider Buying and Selling at Bloom Energy

In other news, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction that occurred 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 sale, the insider now owns 178,656 shares in the company, valued at $4,482,479.04. This trade represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy 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 sale, the insider now owns 171,040 shares in the company, valued at $4,005,756.80. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Bloom Energy

Hedge funds have recently made changes to their positions in the company. 111 Capital bought a new stake in shares of Bloom Energy in the fourth quarter worth $278,000. Mackenzie Financial Corp increased its stake in shares of Bloom Energy by 1.7% in the fourth quarter. Mackenzie Financial Corp now owns 63,372 shares of the company’s stock worth $1,407,000 after buying an additional 1,035 shares during the last quarter. DigitalBridge Group Inc. increased its stake in shares of Bloom Energy by 5.7% in the fourth quarter. DigitalBridge Group Inc. now owns 1,418,257 shares of the company’s stock worth $31,499,000 after buying an additional 75,974 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Bloom Energy in the fourth quarter worth $3,834,000. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in shares of Bloom Energy in the fourth quarter worth $49,000. Hedge funds and other institutional investors 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.