Jefferies Financial Group Raises Bloom Energy (NYSE:BE) Price Target to $22.00

Bloom Energy (NYSE:BE) had its price target boosted by Jefferies Financial Group from $12.00 to $22.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a hold rating on the stock.

Other equities analysts have also recently issued research reports about the company. Robert W. Baird reduced their target price on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Piper Sandler boosted their price objective on shares of Bloom Energy from $20.00 to $30.00 and gave the company an “overweight” rating in a report on Friday. HSBC lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 target price on the stock. in a report on Wednesday, November 20th. Bank of America decreased their price target on shares of Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a report on Thursday, November 7th. Finally, Royal Bank of Canada lifted their target price on Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $18.66.

Bloom Energy Price Performance

BE opened at $25.94 on Friday. The company has a fifty day moving average price of $12.22 and a two-hundred day moving average price of $12.72. 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 has a market capitalization of $5.93 billion, a PE ratio of -46.00 and a beta of 2.71. Bloom Energy has a 52 week low of $8.41 and a 52 week high of $26.92.

Insiders Place Their Bets

In related news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $24.56, for a total transaction of $31,657.84. Following the completion of the transaction, the insider now owns 168,561 shares in the company, valued at approximately $4,139,858.16. This trade represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kr Sridhar sold 72,903 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total value of $1,824,033.06. Following the completion of the sale, the chief executive officer now owns 1,869,593 shares in the company, valued at approximately $46,777,216.86. This trade represents a 3.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,975 shares of company stock valued at $3,045,019 in the last three months. 3.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bloom Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Mizuho Markets Americas LLC boosted its holdings in Bloom Energy by 8.2% in the 3rd quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company’s stock valued at $4,335,000 after purchasing an additional 31,189 shares during the period. Parametrica Management Ltd acquired a new position in shares of Bloom Energy in the third quarter valued at approximately $785,000. International Assets Investment Management LLC raised its position in Bloom Energy by 1,490.8% during the 3rd quarter. International Assets Investment Management LLC now owns 185,328 shares of the company’s stock worth $19,570,000 after purchasing an additional 173,678 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Bloom Energy by 148.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 130,418 shares of the company’s stock worth $1,377,000 after buying an additional 78,009 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of Bloom Energy by 13.1% in the 3rd quarter. Van ECK Associates Corp now owns 661,932 shares of the company’s stock valued at $6,990,000 after buying an additional 76,536 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.