Bloom Energy (NYSE:BE) Price Target Raised to $22.00

Bloom Energy (NYSE:BE) had its price objective raised by Jefferies Financial Group from $12.00 to $22.00 in a report published on Friday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Truist Financial dropped their target price on Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a report on Wednesday, October 16th. UBS Group dropped their target price on Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 15th. BMO Capital Markets lifted their target price on Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a report on Friday, November 15th. Bank of America dropped their target price on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a report on Thursday, November 7th. Finally, Morgan Stanley lifted their target price on Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.66.

Bloom Energy Trading Up 7.6 %

Shares of Bloom Energy stock opened at $25.77 on Friday. The business has a fifty day simple moving average of $11.91 and a two-hundred day simple moving average of $12.61. Bloom Energy has a 1 year low of $8.41 and a 1 year high of $26.26. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of -46.01 and a beta of 2.71. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, 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 transaction, the chief executive officer now owns 1,869,593 shares in the company, valued at $46,777,216.86. The trade was a 3.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the completion of the transaction, the insider now owns 168,561 shares in the company, valued at approximately $4,139,858.16. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 122,975 shares of company stock worth $3,045,019 over the last 90 days. Insiders own 8.81% of the company’s stock.

Institutional Trading of Bloom Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Millburn Ridgefield Corp grew its holdings 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 purchasing an additional 528 shares during the last quarter. ORG Partners LLC bought a new stake in shares of Bloom Energy during the second quarter worth about $40,000. Quest Partners LLC grew its holdings in shares of Bloom Energy by 2,780.0% during the second quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after purchasing an additional 3,475 shares during the last quarter. Gilliland Jeter Wealth Management LLC bought a new stake in shares of Bloom Energy during the second quarter worth about $53,000. Finally, Mather Group LLC. bought a new stake in shares of Bloom Energy during the second quarter worth about $66,000. 77.04% of the stock is currently owned by institutional investors.

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.