Bloom Energy (NYSE:BE) Given New $19.50 Price Target at BMO Capital Markets

Bloom Energy (NYSE:BE) had its price target increased by BMO Capital Markets from $12.00 to $19.50 in a report issued on Friday,Benzinga reports. The brokerage currently has a market perform rating on the stock.

A number of other analysts have also recently commented on the company. Bank of America dropped their price target on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a research report on Thursday, November 7th. Truist Financial cut their target price on Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday, October 16th. Jefferies Financial Group lowered Bloom Energy from a “buy” rating to a “hold” rating and lowered their price target for the stock from $15.00 to $11.00 in a research report on Friday, September 6th. Piper Sandler upgraded shares of Bloom Energy from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $10.00 to $20.00 in a research note on Friday. Finally, UBS Group reduced their price objective on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Bloom Energy presently has an average rating of “Moderate Buy” and a consensus target price of $16.11.

Bloom Energy Stock Up 59.2 %

NYSE:BE opened at $21.14 on Friday. Bloom Energy has a 1-year low of $8.41 and a 1-year high of $22.50. The company has a market capitalization of $4.83 billion, a PE ratio of -37.75 and a beta of 2.71. The firm’s 50-day moving average price is $10.82 and its 200-day moving average price is $12.28. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 3.33.

Hedge Funds Weigh In On Bloom Energy

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Bloom Energy by 0.8% during the first quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock valued at $221,262,000 after acquiring an additional 156,434 shares during the period. Electron Capital Partners LLC raised its stake in Bloom Energy by 131.5% during the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock valued at $38,592,000 after purchasing an additional 1,790,733 shares during the period. JAT Capital Mgmt LP lifted its holdings 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 in the last quarter. DigitalBridge Group Inc. boosted its stake in Bloom Energy by 66.3% in the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock worth $14,203,000 after purchasing an additional 462,581 shares during the period. Finally, Pinnacle Associates Ltd. grew its holdings in Bloom Energy by 48.6% during the 2nd quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company’s stock valued at $10,644,000 after buying an additional 284,298 shares in the last quarter. 77.04% of the stock is owned by institutional investors.

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.