Piper Sandler Has Lowered Expectations for Bloom Energy (NYSE:BE) Stock Price

Bloom Energy (NYSE:BE) had its price target reduced by equities research analysts at Piper Sandler from $33.00 to $31.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 34.90% from the stock’s previous close.

BE has been the topic of several other reports. Hsbc Global Res upgraded Bloom Energy to a “hold” rating in a research report on Wednesday, November 20th. HSBC lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 target price for the company. in a report on Wednesday, November 20th. Truist Financial lifted their target price on shares of Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. BTIG Research boosted their target price on Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, BMO Capital Markets increased their target price on Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.06.

Bloom Energy Stock Down 1.8 %

BE opened at $22.98 on Friday. The company’s 50-day moving average is $24.10 and its 200 day moving average is $17.91. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. Bloom Energy has a fifty-two week low of $8.41 and a fifty-two week high of $29.83. The firm has a market capitalization of $5.25 billion, a P/E ratio of -41.03 and a beta of 3.06.

Insider Buying and Selling

In other news, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the sale, the insider now owns 171,040 shares in the company, valued at approximately $4,005,756.80. The trade was a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Bloom Energy

Large investors have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Bloom Energy during the 4th quarter worth $93,951,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Bloom Energy in the 4th quarter worth approximately $61,968,000. Elemental Capital Partners LLC purchased a new position in Bloom Energy in the 4th quarter valued at approximately $33,612,000. Trivest Advisors Ltd acquired a new position in Bloom Energy during the fourth quarter worth $30,539,000. Finally, Voloridge Investment Management LLC increased its position in shares of Bloom Energy by 323.6% in the fourth quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company’s stock valued at $31,992,000 after buying an additional 1,100,352 shares in the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

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.