Bloom Energy (NYSE:BE) Given New $26.00 Price Target at Susquehanna

Bloom Energy (NYSE:BE) had its price objective trimmed by Susquehanna from $33.00 to $26.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a positive rating on the stock.

Several other brokerages also recently weighed in on BE. Bank of America cut their price target on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a report on Tuesday, January 28th. Mizuho assumed coverage on Bloom Energy in a report on Tuesday, March 18th. They issued a “neutral” rating and a $28.00 price target for the company. HSBC upgraded shares of Bloom Energy from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Tuesday, April 8th. Hsbc Global Res raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Finally, Royal Bank of Canada restated an “outperform” rating on shares of Bloom Energy in a report on Tuesday, April 1st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bloom Energy has an average rating of “Moderate Buy” and an average price target of $23.13.

Bloom Energy Price Performance

NYSE:BE opened at $17.84 on Monday. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of -31.86 and a beta of 3.27. Bloom Energy has a 12-month low of $9.02 and a 12-month high of $29.83. 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’s 50-day moving average is $22.17 and its two-hundred day moving average is $20.45.

Insiders Place Their Bets

In other news, insider Satish Chitoori sold 1,020 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the transaction, the insider now owns 178,656 shares of the company’s stock, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.81% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors have recently made changes to their positions in BE. Wilmington Savings Fund Society FSB bought a new position in Bloom Energy in the third quarter worth about $34,000. Peapack Gladstone Financial Corp boosted its position in Bloom Energy by 4.4% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 271,924 shares of the company’s stock worth $2,871,000 after acquiring an additional 11,525 shares during the period. Franklin Resources Inc. grew its position in Bloom Energy by 62.4% in the 3rd quarter. Franklin Resources Inc. now owns 125,598 shares of the company’s stock valued at $1,314,000 after buying an additional 48,258 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Bloom Energy by 21.8% in the third quarter. B. Riley Wealth Advisors Inc. now owns 21,404 shares of the company’s stock valued at $226,000 after acquiring an additional 3,824 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Bloom Energy by 26.8% during the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock valued at $60,000 after purchasing an additional 569 shares in the last quarter. 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.