Bloom Energy (NYSE:BE) Stock Price Expected to Rise, TD Cowen Analyst Says

Bloom Energy (NYSE:BE) had its target price hoisted by stock analysts at TD Cowen from $13.00 to $20.00 in a report released on Friday,Briefing.com Automated Import reports. The firm currently has a “hold” rating on the stock. TD Cowen’s target price suggests a potential downside of 12.97% from the stock’s previous close.

Several other brokerages have also issued reports on BE. UBS Group increased their target price on Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Morgan Stanley raised their price objective on Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. HSBC lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price target for the company. in a research note on Wednesday, November 20th. Royal Bank of Canada raised their target price on shares of Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Finally, BTIG Research boosted their price target on Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $24.47.

Bloom Energy Price Performance

Shares of NYSE BE opened at $22.98 on Friday. 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 1 year low of $8.41 and a 1 year high of $29.83. The company’s 50-day moving average is $24.10 and its 200 day moving average is $17.91. The stock has a market capitalization of $5.25 billion, a P/E ratio of -41.03 and a beta of 3.06.

Insider Activity at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the firm’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 value of $38,385.38. Following the transaction, the insider now owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BE. Millburn Ridgefield Corp raised its holdings in Bloom Energy by 29.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after purchasing an additional 528 shares during the period. Mainstream Capital Management LLC purchased a new stake in Bloom Energy in the fourth quarter worth about $28,000. Smartleaf Asset Management LLC raised its stake in shares of Bloom Energy by 291.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after buying an additional 934 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Bloom Energy by 120.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after buying an additional 812 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Bloom Energy during the 3rd quarter valued at about $34,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

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.