TD Cowen Forecasts Strong Price Appreciation for Bloom Energy (NYSE:BE) Stock

Bloom Energy (NYSE:BE) had its target price hoisted by TD Cowen from $13.00 to $20.00 in a research note published on Friday, Marketbeat.com reports. They currently have a hold rating on the stock.

A number of other analysts have also recently commented on the stock. Roth Capital raised shares of Bloom Energy to a “hold” rating in a report on Tuesday, December 10th. Robert W. Baird upped their target price on shares of Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. UBS Group upped their target price on shares of Bloom Energy from $21.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Susquehanna upped their target price on shares of Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a report on Friday, December 6th. Finally, Hsbc Global Res upgraded shares of Bloom Energy to a “hold” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bloom Energy presently has an average rating of “Hold” and a consensus price target of $24.47.

Bloom Energy Stock Up 4.5 %

Shares of BE stock opened at $24.08 on Friday. Bloom Energy has a 12 month low of $8.41 and a 12 month high of $29.83. The stock has a market cap of $5.50 billion, a P/E ratio of -43.00 and a beta of 3.06. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The company has a 50 day simple moving average of $24.10 and a two-hundred day simple moving average of $17.95.

Insider Buying and Selling

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the transaction, the insider now owns 171,040 shares in the company, valued at approximately $4,005,756.80. This represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.81% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bloom Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted its position in Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after purchasing an additional 934 shares during the last quarter. Mainstream Capital Management LLC bought a new position in Bloom Energy during the fourth quarter valued at $28,000. Jones Financial Companies Lllp lifted its position in Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after purchasing an additional 812 shares during the last quarter. Quarry LP bought a new position in Bloom Energy during the fourth quarter valued at $35,000. Finally, Avior Wealth Management LLC bought a new position in Bloom Energy during the fourth quarter valued at $40,000. Institutional investors 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.