Bloom Energy Co. (NYSE:BE) Receives $24.29 Average Target Price from Brokerages

Shares of Bloom Energy Co. (NYSE:BE - Get Free Report) have received an average recommendation of "Moderate Buy" from the twenty-two analysts that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $24.29.

A number of brokerages recently weighed in on BE. JPMorgan Chase & Co. raised their target price on shares of Bloom Energy from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Royal Bank of Canada reaffirmed an "outperform" rating on shares of Bloom Energy in a report on Tuesday, April 1st. Bank of America reduced their target price on Bloom Energy from $20.00 to $18.00 and set an "underperform" rating on the stock in a research note on Tuesday, January 28th. Truist Financial lifted their price target on Bloom Energy from $11.00 to $22.00 and gave the stock a "hold" rating in a research note on Thursday, January 16th. Finally, HSBC upgraded Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 price objective on the stock in a research report on Tuesday, April 8th.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of the 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 directly owns 171,040 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the transaction, the insider now directly owns 178,656 shares in the company, valued at approximately $4,482,479.04. The trade was a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.81% of the company's stock.

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Institutional Investors Weigh In On Bloom Energy

A number of institutional investors and hedge funds have recently bought and sold shares of BE. Mainstream Capital Management LLC purchased a new stake in shares of Bloom Energy during the fourth quarter worth about $28,000. Smartleaf Asset Management LLC boosted its stake in Bloom Energy by 291.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock worth $28,000 after purchasing an additional 934 shares during the period. Jones Financial Companies Lllp grew its holdings in 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. Wilmington Savings Fund Society FSB bought a new stake in shares of Bloom Energy during the third quarter valued at approximately $34,000. Finally, Quarry LP purchased a new position in shares of Bloom Energy in the fourth quarter worth $35,000. 77.04% of the stock is owned by institutional investors.

Bloom Energy Price Performance

Bloom Energy stock traded up $0.78 during midday trading on Thursday, hitting $17.63. 6,729,752 shares of the company's stock were exchanged, compared to its average volume of 6,891,278. The stock has a 50-day moving average price of $22.56 and a two-hundred day moving average price of $20.44. Bloom Energy has a 52-week low of $9.02 and a 52-week high of $29.83. The company has a market cap of $4.06 billion, a P/E ratio of -31.48 and a beta of 3.27. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

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.