Bloom Energy (NYSE:BE) Price Target Raised to $20.00

Bloom Energy (NYSE:BEGet Free Report) had its target price raised by equities research analysts at BTIG Research from $16.00 to $20.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s target price would suggest a potential downside of 5.39% from the company’s previous close.

Several other analysts also recently issued reports on BE. Marathon Capitl upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. BMO Capital Markets increased their price target on Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a report on Friday. Truist Financial reduced their price objective on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research note on Wednesday, October 16th. Jefferies Financial Group lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and lowered their target price for the company from $15.00 to $11.00 in a research note on Friday, September 6th. Finally, Robert W. Baird cut their target price on shares of Bloom Energy from $18.00 to $15.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Bloom Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.05.

View Our Latest Report on Bloom Energy

Bloom Energy Stock Up 59.2 %

BE stock opened at $21.14 on Friday. The firm has a market cap of $4.81 billion, a PE ratio of -37.75 and a beta of 2.71. Bloom Energy has a 1 year low of $8.41 and a 1 year high of $22.50. The company has a fifty day simple moving average of $10.82 and a 200 day simple moving average of $12.28. The company has a current ratio of 3.36, a quick ratio of 3.33 and a debt-to-equity ratio of 3.09.

Hedge Funds Weigh In On Bloom Energy

Hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its holdings in shares of Bloom Energy by 99,266.7% in the 1st quarter. Russell Investments Group Ltd. now owns 146,069 shares of the company’s stock worth $1,642,000 after buying an additional 145,922 shares in the last quarter. ProShare Advisors LLC raised its stake in Bloom Energy by 6.2% during the first quarter. ProShare Advisors LLC now owns 46,518 shares of the company’s stock worth $523,000 after acquiring an additional 2,719 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Bloom Energy by 3.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 92,675 shares of the company’s stock valued at $1,042,000 after purchasing an additional 3,499 shares in the last quarter. Tocqueville Asset Management L.P. increased its position in shares of Bloom Energy by 3.1% during the 1st quarter. Tocqueville Asset Management L.P. now owns 59,250 shares of the company’s stock worth $666,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Mizuho Markets Americas LLC increased its holdings in shares of Bloom Energy by 10.3% during the first quarter. Mizuho Markets Americas LLC now owns 429,401 shares of the company’s stock worth $4,826,000 after buying an additional 40,050 shares in the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

About Bloom Energy

(Get Free Report)

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.

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