Bloom Energy (NYSE:BE) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Bloom Energy (NYSE:BE) had its target price raised by JPMorgan Chase & Co. from $14.00 to $16.00 in a report released on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada upped their price target on shares of Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Bank of America increased their target price on Bloom Energy from $7.00 to $20.00 and gave the company an “underperform” rating in a report on Monday, December 9th. Roth Capital upgraded Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. Robert W. Baird lifted their price objective on Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Finally, Morgan Stanley upped their target price on shares of Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, November 18th. One 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 company. Based on data from MarketBeat, Bloom Energy has an average rating of “Hold” and a consensus price target of $23.08.

Bloom Energy Trading Up 8.5 %

Shares of BE stock opened at $27.69 on Thursday. Bloom Energy has a fifty-two week low of $8.41 and a fifty-two week high of $28.70. 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 fifty day simple moving average of $24.31 and a 200-day simple moving average of $15.96. The stock has a market cap of $6.33 billion, a P/E ratio of -49.45 and a beta of 3.06.

Insider Transactions at Bloom Energy

In related news, CEO Kr Sridhar sold 46,697 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $25.00, for a total value of $1,167,425.00. Following the completion of the sale, the chief executive officer now directly owns 1,822,496 shares in the company, valued at approximately $45,562,400. This represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shawn Marie Soderberg sold 1,289 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $24.56, for a total value of $31,657.84. Following 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 122,528 shares of company stock worth $3,061,501 in the last three months. 8.81% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bloom Energy

Large investors have recently modified their holdings of the stock. Avior Wealth Management LLC purchased a new position in Bloom Energy in the 4th quarter worth approximately $40,000. Wesbanco Bank Inc. lifted its position in shares of Bloom Energy by 3.9% during the fourth quarter. Wesbanco Bank Inc. now owns 107,000 shares of the company’s stock worth $2,376,000 after purchasing an additional 4,000 shares in the last quarter. Chesley Taft & Associates LLC purchased a new position in shares of Bloom Energy in the fourth quarter valued at $225,000. M.E. Allison & CO. Inc. acquired a new stake in Bloom Energy during the 4th quarter valued at $711,000. Finally, Joule Financial LLC acquired a new position in Bloom Energy in the 4th quarter worth $348,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

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.