Bloom Energy (NYSE:BE) Price Target Raised to $33.00

Bloom Energy (NYSE:BE) had its price target boosted by UBS Group from $21.00 to $33.00 in a research note published on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also recently commented on BE. Marathon Capitl raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Robert W. Baird reduced their price objective on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Hsbc Global Res raised Bloom Energy to a “hold” rating in a report on Wednesday, November 20th. Truist Financial cut their price target on Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a report on Wednesday, October 16th. Finally, Bank of America decreased their price objective on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.14.

Bloom Energy Trading Up 4.0 %

Bloom Energy stock opened at $27.21 on Tuesday. Bloom Energy has a 52-week low of $8.41 and a 52-week high of $28.70. The company has a market cap of $6.22 billion, a P/E ratio of -48.59 and a beta of 2.71. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The business has a 50-day simple moving average of $13.21 and a two-hundred day simple moving average of $13.02.

Insiders Place Their Bets

In related news, insider Shawn Marie Soderberg sold 1,289 shares of the firm’s stock in a transaction on 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 directly owns 168,561 shares of the company’s stock, valued at approximately $4,139,858.16. This trade represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kr Sridhar sold 72,903 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the completion of the sale, the chief executive officer now owns 1,869,593 shares in the company, valued at $46,777,216.86. This represents a 3.75 % 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 in the last 90 days. 8.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bloom Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Millburn Ridgefield Corp boosted its holdings in shares of Bloom Energy by 29.2% in the 3rd 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 period. Wilmington Savings Fund Society FSB bought a new stake in Bloom Energy in the third quarter worth $34,000. ORG Partners LLC purchased a new position in Bloom Energy during the second quarter worth $40,000. Quest Partners LLC increased its position in Bloom Energy by 2,780.0% during the second quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after acquiring an additional 3,475 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in shares of Bloom Energy in the second quarter valued at $53,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Bloom Energy Company Profile

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.