Bloom Energy (NYSE:BE) Stock Price Expected to Rise, UBS Group Analyst Says

Bloom Energy (NYSE:BE) had its price objective lifted by equities research analysts at UBS Group from $21.00 to $33.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s target price points to a potential upside of 21.28% from the company’s previous close.

Several other equities analysts have also commented on BE. Hsbc Global Res raised Bloom Energy to a “hold” rating in a research report on Wednesday, November 20th. Bank of America lowered their price target on shares of Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a research report on Thursday, November 7th. Truist Financial cut their price objective on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, October 16th. BTIG Research lifted their target price on shares of Bloom Energy from $16.00 to $20.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Susquehanna upped their price target on Bloom Energy from $13.00 to $16.00 and gave the stock a “positive” rating in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Bloom Energy presently has an average rating of “Hold” and an average price target of $19.14.

Bloom Energy Trading Up 4.0 %

BE opened at $27.21 on Tuesday. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. Bloom Energy has a 52 week low of $8.41 and a 52 week high of $28.70. The stock has a market cap of $6.22 billion, a PE ratio of -50.20 and a beta of 2.71. The business has a 50 day moving average of $12.87 and a 200-day moving average of $12.93.

Insider Activity at Bloom Energy

In other news, CEO Kr Sridhar sold 72,903 shares of Bloom Energy stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the transaction, the chief executive officer now owns 1,869,593 shares in the company, valued at $46,777,216.86. This trade represents a 3.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,289 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $24.56, for a total value of $31,657.84. Following the completion of the sale, the insider now owns 168,561 shares of the company’s stock, valued at $4,139,858.16. This trade represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 122,975 shares of company stock worth $3,045,019. 8.81% of the stock is owned by insiders.

Institutional Trading of Bloom Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Millburn Ridgefield Corp raised its position in shares of Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after buying an additional 528 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Bloom Energy in the 3rd quarter valued at $34,000. ORG Partners LLC bought a new stake in Bloom Energy in the 2nd quarter valued at $40,000. Quest Partners LLC lifted its stake in Bloom Energy by 2,780.0% in the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after purchasing an additional 3,475 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC bought a new position in shares of Bloom Energy during the 2nd quarter valued at about $53,000. 77.04% of the stock is owned by hedge funds and other 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.