Royal Bank of Canada Issues Positive Forecast for Bloom Energy (NYSE:BE) Stock Price

Bloom Energy (NYSE:BE) had its target price raised by Royal Bank of Canada from $15.00 to $28.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

BE has been the topic of several other research reports. BTIG Research increased their price objective on shares of Bloom Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday. Piper Sandler raised Bloom Energy from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $10.00 to $20.00 in a research note on Friday. Bank of America cut their price objective on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a research note on Thursday, November 7th. Marathon Capitl raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Finally, UBS Group lowered their price objective on Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, eight have issued 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.com, Bloom Energy currently has an average rating of “Moderate Buy” and a consensus price target of $17.17.

Bloom Energy Stock Up 7.9 %

Shares of Bloom Energy stock opened at $22.81 on Monday. The company’s 50 day moving average is $10.82 and its 200 day moving average is $12.28. The company has a market cap of $5.21 billion, a price-to-earnings ratio of -40.73 and a beta of 2.71. The company has a quick ratio of 3.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. Bloom Energy has a twelve month low of $8.41 and a twelve month high of $24.92.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BE. Electron Capital Partners LLC lifted its stake in Bloom Energy by 131.5% in the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after purchasing an additional 1,790,733 shares during the last quarter. JAT Capital Mgmt LP grew its stake 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 acquiring an additional 733,363 shares in the last quarter. Artemis Investment Management LLP purchased a new position in Bloom Energy during the 2nd quarter worth $7,502,000. DigitalBridge Group Inc. raised its position in Bloom Energy by 66.3% during the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after purchasing an additional 462,581 shares in the last quarter. Finally, Pier Capital LLC purchased a new position in shares of Bloom Energy during the second quarter valued at $5,602,000. Institutional investors own 77.04% of the company’s stock.

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.