Bloom Energy (NYSE:BE) Price Target Cut to $19.00 by Analysts at Jefferies Financial Group

Bloom Energy (NYSE:BE - Get Free Report) had its price target decreased by equities research analysts at Jefferies Financial Group from $25.00 to $19.00 in a report released on Wednesday,Benzinga reports. The firm currently has a "hold" rating on the stock. Jefferies Financial Group's price objective suggests a potential upside of 11.57% from the stock's current price.

BE has been the topic of several other reports. Bank of America reduced their price objective 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. HSBC raised shares of Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 target price for the company in a research note on Tuesday, April 8th. Truist Financial boosted their price target on shares of Bloom Energy from $11.00 to $22.00 and gave the company a "hold" rating in a report on Thursday, January 16th. Piper Sandler dropped their price objective on shares of Bloom Energy from $33.00 to $31.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Finally, Mizuho assumed coverage on shares of Bloom Energy in a research note on Tuesday, March 18th. They issued a "neutral" rating and a $28.00 price objective for the company. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $23.13.

Bloom Energy Price Performance

BE stock traded down $0.80 during trading on Wednesday, hitting $17.03. 6,155,342 shares of the company's stock traded hands, compared to its average volume of 6,804,291. The business has a fifty day simple moving average of $21.85 and a 200 day simple moving average of $20.61. Bloom Energy has a 52 week low of $9.02 and a 52 week high of $29.83. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of -30.41 and a beta of 3.27.

Insider Activity at Bloom Energy

In related news, insider Satish Chitoori sold 1,020 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the completion of the sale, the insider now owns 178,656 shares of the company's stock, valued at approximately $4,482,479.04. This represents a 0.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.81% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bloom Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mezzasalma Advisors LLC increased its stake in shares of Bloom Energy by 113.2% in the 1st quarter. Mezzasalma Advisors LLC now owns 33,139 shares of the company's stock worth $652,000 after acquiring an additional 17,598 shares during the last quarter. M.E. Allison & CO. Inc. boosted its position in Bloom Energy by 59.3% in the 1st quarter. M.E. Allison & CO. Inc. now owns 51,030 shares of the company's stock valued at $1,003,000 after buying an additional 19,000 shares during the period. Wesbanco Bank Inc. grew its stake in shares of Bloom Energy by 37.4% in the first quarter. Wesbanco Bank Inc. now owns 147,000 shares of the company's stock worth $2,890,000 after acquiring an additional 40,000 shares in the last quarter. Joule Financial LLC raised its stake in shares of Bloom Energy by 99.7% in the first quarter. Joule Financial LLC now owns 31,249 shares of the company's stock valued at $614,000 after acquiring an additional 15,598 shares in the last quarter. Finally, Udine Wealth Management Inc. acquired a new position in Bloom Energy during the 1st quarter worth $794,000. 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.