Bloom Energy (NYSE:BE) Price Target Raised to $30.00 at BTIG Research

Bloom Energy (NYSE:BE - Get Free Report) had its price target upped by BTIG Research from $20.00 to $30.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. BTIG Research's price objective would indicate a potential upside of 14.72% from the stock's current price.

Other equities research analysts have also issued research reports about the stock. Marathon Capitl raised shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, November 11th. Susquehanna upped their target price on shares of Bloom Energy from $20.00 to $33.00 and gave the company a "positive" rating in a research report on Friday, December 6th. BMO Capital Markets lifted their price objective on Bloom Energy from $12.00 to $19.50 and gave the company a "market perform" rating in a research note on Friday, November 15th. Roth Mkm initiated coverage on Bloom Energy in a research note on Wednesday, December 11th. They set a "neutral" rating and a $25.00 target price on the stock. Finally, Jefferies Financial Group increased their price target on shares of 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $22.45.

Bloom Energy Price Performance

Shares of Bloom Energy stock traded up $0.56 during trading hours on Monday, reaching $26.15. The stock had a trading volume of 6,896,292 shares, compared to its average volume of 6,587,924. The stock's 50 day moving average is $16.89 and its 200 day moving average is $13.99. Bloom Energy has a twelve month low of $8.41 and a twelve month high of $28.70. The firm has a market capitalization of $5.98 billion, a PE ratio of -47.29 and a beta of 3.04. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09.

Insider Buying and Selling at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,289 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $24.56, for a total value of $31,657.84. Following the completion of the transaction, the insider now owns 168,561 shares of the company's stock, valued at approximately $4,139,858.16. This represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Kr Sridhar sold 46,697 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $25.00, for a total value of $1,167,425.00. Following the completion of the transaction, the chief executive officer now directly owns 1,822,496 shares in the company, valued at approximately $45,562,400. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,975 shares of company stock valued at $3,045,019 over the last three months. 8.81% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bloom Energy

A number of hedge funds have recently bought and sold shares of BE. Millburn Ridgefield Corp boosted its holdings in shares of Bloom Energy by 29.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company's stock valued at $25,000 after buying an additional 528 shares during the period. Xponance Inc. lifted its stake in Bloom Energy by 7.8% in the second quarter. Xponance Inc. now owns 12,542 shares of the company's stock valued at $154,000 after buying an additional 903 shares during the last quarter. Kovitz Investment Group Partners LLC grew its position in shares of Bloom Energy by 3.9% during the third quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company's stock worth $374,000 after acquiring an additional 1,349 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Bloom Energy by 2.7% in the 2nd quarter. Arizona State Retirement System now owns 56,886 shares of the company's stock worth $696,000 after acquiring an additional 1,470 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in Bloom Energy in the 3rd quarter valued at about $34,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.