Bloom Energy (NYSE:BE) Price Target Raised to $28.00

Bloom Energy (NYSE:BE) had its target price upped by Morgan Stanley from $20.00 to $28.00 in a report released on Monday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Several other analysts have also recently commented on the stock. Susquehanna raised their price target on shares of Bloom Energy from $13.00 to $16.00 and gave the stock a “positive” rating in a report on Tuesday, November 12th. Robert W. Baird lowered their price target on shares of Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. BTIG Research increased their price objective on Bloom Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Truist Financial dropped their target price 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. Finally, Jefferies Financial Group lowered Bloom Energy from a “buy” rating to a “hold” rating and reduced their price target for the company from $15.00 to $11.00 in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $17.55.

Bloom Energy Stock Performance

Shares of Bloom Energy stock opened at $24.79 on Monday. The stock has a market cap of $5.67 billion, a PE ratio of -43.09 and a beta of 2.71. Bloom Energy has a 12 month low of $8.41 and a 12 month high of $25.12. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The business has a fifty day simple moving average of $11.36 and a 200-day simple moving average of $12.45.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the sale, the insider now owns 168,561 shares of the company’s stock, valued at $4,139,858.16. The trade was a 0.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.50% of the company’s stock.

Institutional Trading of Bloom Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its stake in Bloom Energy by 99,266.7% during the first 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 in the last quarter. ProShare Advisors LLC grew its holdings in shares of Bloom Energy by 6.2% in the 1st 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. increased its position in shares of 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 in the last quarter. Vanguard Group Inc. lifted its holdings in Bloom Energy by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock valued at $221,262,000 after purchasing an additional 156,434 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in Bloom Energy by 16.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 555,256 shares of the company’s stock valued at $6,241,000 after buying an additional 78,008 shares in the last quarter. 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.