Jefferies Financial Group Lowers Bloom Energy (NYSE:BE) Price Target to $19.00

Bloom Energy (NYSE:BE) had its price objective trimmed by Jefferies Financial Group from $25.00 to $19.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the stock.

A number of other equities analysts have also weighed in on the company. Truist Financial upped their price objective on Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Redburn Atlantic lowered shares of Bloom Energy from a “neutral” rating to a “sell” rating and cut their price objective for the company from $14.50 to $10.00 in a report on Wednesday, April 9th. Morgan Stanley lifted their price objective on shares of Bloom Energy from $28.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Royal Bank of Canada restated an “outperform” rating on shares of Bloom Energy in a research report on Tuesday, April 1st. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Bloom Energy in a report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.13.

Bloom Energy Stock Down 2.6 %

BE opened at $17.84 on Wednesday. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of -31.86 and a beta of 3.27. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The firm’s fifty day moving average is $22.17 and its 200 day moving average is $20.45. Bloom Energy has a fifty-two week low of $9.02 and a fifty-two week high of $29.83.

Insider Activity at Bloom Energy

In related news, insider Satish Chitoori sold 1,020 shares of the company’s 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 directly owns 178,656 shares in the company, valued at approximately $4,482,479.04. This represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.81% of the stock is currently owned by insiders.

Institutional Trading of Bloom Energy

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Bloom Energy in the fourth quarter worth approximately $93,951,000. Fuller & Thaler Asset Management Inc. bought a new position in Bloom Energy in the 4th quarter valued at $61,968,000. Elemental Capital Partners LLC purchased a new stake in Bloom Energy in the fourth quarter worth $33,612,000. Trivest Advisors Ltd bought a new stake in shares of Bloom Energy during the fourth quarter worth $30,539,000. Finally, Voloridge Investment Management LLC boosted its stake in shares of Bloom Energy by 323.6% during the fourth quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company’s stock valued at $31,992,000 after purchasing an additional 1,100,352 shares during the period. Institutional investors own 77.04% of the company’s stock.

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.