Piper Sandler Lowers Bloom Energy (NYSE:BE) Price Target to $31.00

Bloom Energy (NYSE:BE) had its price objective decreased by Piper Sandler from $33.00 to $31.00 in a report published on Friday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other equities analysts have also recently weighed in on the company. Susquehanna increased their price target on Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a report on Friday, December 6th. Roth Mkm started coverage on shares of Bloom Energy in a research note on Wednesday, December 11th. They set a “neutral” rating and a $25.00 target price for the company. Roth Capital upgraded shares of Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. Jefferies Financial Group upped their price objective on shares of Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. Finally, Morgan Stanley lifted their target price on shares of Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.47.

Bloom Energy Trading Up 4.5 %

BE opened at $24.08 on Friday. The business’s 50 day moving average price is $24.10 and its 200 day moving average price is $17.95. 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 stock has a market capitalization of $5.50 billion, a PE ratio of -43.00 and a beta of 3.06. Bloom Energy has a one year low of $8.41 and a one year high of $29.83.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the transaction, the insider now owns 171,040 shares in the company, valued at $4,005,756.80. The trade was a 0.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bloom Energy

Institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp increased its holdings in Bloom Energy by 1.7% in the fourth quarter. Mackenzie Financial Corp now owns 63,372 shares of the company’s stock valued at $1,407,000 after buying an additional 1,035 shares during the last quarter. DigitalBridge Group Inc. increased its holdings in shares of Bloom Energy by 5.7% in the 4th quarter. DigitalBridge Group Inc. now owns 1,418,257 shares of the company’s stock valued at $31,499,000 after acquiring an additional 75,974 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Bloom Energy during the 4th quarter worth about $3,834,000. Gordian Capital Singapore Pte Ltd purchased a new stake in Bloom Energy during the fourth quarter worth approximately $49,000. Finally, Castleark Management LLC purchased a new stake in Bloom Energy during the fourth quarter worth approximately $2,860,000. 77.04% of the stock is owned by hedge funds and other 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.