Bloom Energy (NYSE:BE) Price Target Lowered to $18.00 at Bank of America

Bloom Energy (NYSE:BE) had its price objective decreased by Bank of America from $20.00 to $18.00 in a research note issued to investors on Tuesday,Benzinga reports. Bank of America currently has an underperform rating on the stock.

A number of other analysts have also issued reports on the company. Royal Bank of Canada raised their target price on Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Hsbc Global Res raised shares of Bloom Energy to a “hold” rating in a research report on Wednesday, November 20th. Jefferies Financial Group increased their price target on shares of Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a report on Friday, November 22nd. Truist Financial boosted their price objective on shares of Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Finally, Piper Sandler lifted their target price on Bloom Energy from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $23.13.

Bloom Energy Stock Down 8.6 %

BE stock opened at $20.49 on Tuesday. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The company has a 50-day moving average of $24.69 and a two-hundred day moving average of $16.32. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of -36.59 and a beta of 3.06. Bloom Energy has a 52-week low of $8.41 and a 52-week high of $29.83.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total value of $38,385.38. Following the transaction, the insider now owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. The trade was a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kr Sridhar sold 72,903 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total value of $1,824,033.06. Following the completion of the sale, the chief executive officer now owns 1,869,593 shares of the company’s stock, valued at approximately $46,777,216.86. This trade represents a 3.75 % decrease in their ownership of the stock. 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 over the last ninety days. Corporate insiders own 8.81% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

A number of large investors have recently modified their holdings of BE. JAT Capital Mgmt LP raised its position in Bloom Energy by 50.0% in the 3rd quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock worth $23,221,000 after purchasing an additional 733,363 shares during the last quarter. Elemental Capital Partners LLC acquired a new stake in shares of Bloom Energy in the 4th quarter valued at $33,612,000. Artemis Investment Management LLP lifted its stake in shares of Bloom Energy by 20.5% during the third quarter. Artemis Investment Management LLP now owns 738,673 shares of the company’s stock valued at $7,800,000 after acquiring an additional 125,757 shares during the period. Van ECK Associates Corp boosted its holdings in Bloom Energy by 13.1% in the third quarter. Van ECK Associates Corp now owns 661,932 shares of the company’s stock valued at $6,990,000 after acquiring an additional 76,536 shares during the last quarter. Finally, Marshall Wace LLP increased its position in Bloom Energy by 30.0% in the second quarter. Marshall Wace LLP now owns 510,315 shares of the company’s stock worth $6,246,000 after purchasing an additional 117,648 shares during the period. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.