Bloom Energy (NYSE:BE) Rating Increased to Overweight at Piper Sandler

Bloom Energy (NYSE:BE) was upgraded by stock analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research note issued on Friday,Benzinga reports. The firm currently has a $20.00 target price on the stock, up from their prior target price of $10.00. Piper Sandler’s price objective would indicate a potential upside of 50.60% from the stock’s current price.

BE has been the subject of a number of other reports. Susquehanna boosted their price target on Bloom Energy from $13.00 to $16.00 and gave the company a “positive” rating in a research note on Tuesday. Truist Financial cut their price objective on Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday, October 16th. Marathon Capitl raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday. UBS Group decreased their price target on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.61.

Bloom Energy Stock Down 2.4 %

Shares of NYSE BE opened at $13.28 on Friday. The stock has a market capitalization of $3.02 billion, a PE ratio of -23.71 and a beta of 2.71. Bloom Energy has a one year low of $8.41 and a one year high of $18.14. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 3.33. The business’s fifty day moving average price is $10.55 and its 200-day moving average price is $12.19.

Hedge Funds Weigh In On Bloom Energy

Several institutional investors and hedge funds have recently modified their holdings of BE. Russell Investments Group Ltd. boosted its stake in shares of Bloom Energy by 99,266.7% during the 1st quarter. Russell Investments Group Ltd. now owns 146,069 shares of the company’s stock worth $1,642,000 after acquiring an additional 145,922 shares during the period. ProShare Advisors LLC grew its holdings in shares of Bloom Energy by 6.2% during the first quarter. ProShare Advisors LLC now owns 46,518 shares of the company’s stock worth $523,000 after purchasing an additional 2,719 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Bloom Energy by 3.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 92,675 shares of the company’s stock worth $1,042,000 after purchasing an additional 3,499 shares during the last quarter. Tocqueville Asset Management L.P. grew its holdings in Bloom Energy by 3.1% during the 1st quarter. Tocqueville Asset Management L.P. now owns 59,250 shares of the company’s stock worth $666,000 after acquiring an additional 1,800 shares during the period. Finally, Mizuho Markets Americas LLC increased its stake in shares of Bloom Energy by 10.3% in the 1st quarter. Mizuho Markets Americas LLC now owns 429,401 shares of the company’s stock valued at $4,826,000 after acquiring an additional 40,050 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.