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

Bloom Energy (NYSE:BE) had its price objective boosted by Royal Bank of Canada from $15.00 to $28.00 in a research note issued to investors on Monday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other equities research analysts have also recently issued reports on BE. Morgan Stanley boosted their price objective on Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday. Marathon Capitl raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Jefferies Financial Group downgraded Bloom Energy from a “buy” rating to a “hold” rating and lowered their target price for the stock from $15.00 to $11.00 in a report on Friday, September 6th. Piper Sandler raised Bloom Energy from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $10.00 to $20.00 in a research note on Friday, November 15th. Finally, BMO Capital Markets raised their price objective on shares of Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Bloom Energy currently has an average rating of “Moderate Buy” and an average target price of $17.55.

Bloom Energy Price Performance

NYSE:BE opened at $23.94 on Monday. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The firm has a fifty day simple moving average of $11.64 and a 200 day simple moving average of $12.53. Bloom Energy has a 1-year low of $8.41 and a 1-year high of $25.12. The stock has a market capitalization of $5.47 billion, a PE ratio of -44.27 and a beta of 2.71.

Insider Buying and Selling at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,289 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $24.56, for a total transaction of $31,657.84. Following the sale, the insider now directly owns 168,561 shares in the company, valued at $4,139,858.16. This represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 8.81% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Millburn Ridgefield Corp lifted its holdings in shares of Bloom Energy by 29.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after acquiring an additional 528 shares during the last quarter. ORG Partners LLC bought a new stake in Bloom Energy in the second quarter worth $40,000. Quest Partners LLC grew its position in Bloom Energy by 2,780.0% during the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after purchasing an additional 3,475 shares during the last quarter. Gilliland Jeter Wealth Management LLC purchased a new stake in shares of Bloom Energy during the second quarter valued at approximately $53,000. Finally, Mather Group LLC. bought a new stake in shares of Bloom Energy in the 2nd quarter worth $66,000. 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.