Bloom Energy (NYSE:BE) Stock Price Expected to Rise, BTIG Research Analyst Says

Bloom Energy (NYSE:BE) had its price objective increased by BTIG Research from $20.00 to $30.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target points to a potential upside of 18.53% from the company’s current price.

A number of other brokerages have also weighed in on BE. HSBC lowered Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price objective on the stock. in a research report on Wednesday, November 20th. Bank of America upped their price objective on Bloom Energy from $7.00 to $20.00 and gave the company an “underperform” rating in a research note on Monday, December 9th. BMO Capital Markets lifted their target price on shares of Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a research report on Friday, November 15th. Royal Bank of Canada upped their price target on shares of Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Finally, Morgan Stanley boosted their price objective on shares of Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $22.45.

Bloom Energy Price Performance

Shares of NYSE BE traded down $0.28 during midday trading on Monday, reaching $25.31. 1,516,544 shares of the company were exchanged, compared to its average volume of 6,565,378. The stock’s 50-day moving average price is $16.89 and its 200-day moving average price is $13.99. The stock has a market cap of $5.79 billion, a P/E ratio of -45.13 and a beta of 3.04. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. Bloom Energy has a one year low of $8.41 and a one year high of $28.70.

Insider Buying and Selling

In related news, CEO Kr Sridhar sold 72,903 shares of Bloom Energy stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total value of $1,824,033.06. Following the completion of the sale, the chief executive officer now owns 1,869,593 shares of the company’s stock, valued at approximately $46,777,216.86. This trade represents a 3.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Shawn Marie Soderberg sold 1,289 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $24.56, for a total transaction of $31,657.84. Following the transaction, the insider now owns 168,561 shares in the company, valued at approximately $4,139,858.16. The trade was a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 122,975 shares of company stock valued at $3,045,019 over the last ninety days. 8.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bloom Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mizuho Markets Americas LLC grew its holdings in Bloom Energy by 8.2% during the third quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company’s stock worth $4,335,000 after buying an additional 31,189 shares in the last quarter. Duff & Phelps Investment Management Co. purchased a new position in Bloom Energy during the 3rd quarter worth $517,000. Parametrica Management Ltd bought a new stake in shares of Bloom Energy in the 3rd quarter worth $785,000. Edgestream Partners L.P. purchased a new stake in shares of Bloom Energy in the third quarter valued at about $3,274,000. Finally, Penserra Capital Management LLC lifted its position in shares of Bloom Energy by 20.7% during the third quarter. Penserra Capital Management LLC now owns 165,660 shares of the company’s stock valued at $1,749,000 after purchasing an additional 28,416 shares in the last quarter. 77.04% of the stock is owned by 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.