Bloom Energy (NYSE:BE – Get Free Report) had its price objective increased by equities researchers at Piper Sandler from $30.00 to $33.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 40.66% from the stock’s previous close.
Several other research firms have also recently issued reports on BE. Royal Bank of Canada boosted 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. JPMorgan Chase & Co. increased their target price on shares of Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday. Hsbc Global Res upgraded Bloom Energy to a “hold” rating in a research note on Wednesday, November 20th. Roth Capital raised Bloom Energy to a “hold” rating in a report on Tuesday, December 10th. Finally, Jefferies Financial Group increased their price target on Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $23.24.
Bloom Energy Trading Down 21.3 %
Insider Activity
In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $24.56, for a total transaction of $31,657.84. Following the transaction, the insider now directly owns 168,561 shares of the company’s stock, valued at $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kr Sridhar sold 46,697 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the completion of the sale, the chief executive officer now directly owns 1,822,496 shares of the company’s stock, valued at approximately $45,562,400. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,528 shares of company stock worth $3,061,501 over the last ninety days. Corporate insiders own 8.81% of the company’s stock.
Hedge Funds Weigh In On Bloom Energy
Several large investors have recently modified their holdings of the business. JAT Capital Mgmt LP boosted its position in shares of Bloom Energy by 50.0% during the 3rd quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock worth $23,221,000 after purchasing an additional 733,363 shares during the period. Erste Asset Management GmbH acquired a new position in Bloom Energy during the third quarter worth $3,762,000. Edgestream Partners L.P. purchased a new position in shares of Bloom Energy during the third quarter worth $3,274,000. Temasek Holdings Private Ltd acquired a new stake in shares of Bloom Energy in the third quarter valued at $3,249,000. Finally, International Assets Investment Management LLC raised its holdings in shares of Bloom Energy by 1,490.8% in the 3rd quarter. International Assets Investment Management LLC now owns 185,328 shares of the company’s stock valued at $19,570,000 after buying an additional 173,678 shares during the period. Institutional investors and hedge funds 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.
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