Bloom Energy (NYSE:BE) Given New $32.00 Price Target at Robert W. Baird

Bloom Energy (NYSE:BE - Free Report) had its price target upped by Robert W. Baird from $15.00 to $32.00 in a research report report published on Thursday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other brokerages have also issued reports on BE. UBS Group increased their target price on shares of Bloom Energy from $21.00 to $33.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. BTIG Research increased their price objective on shares of Bloom Energy from $16.00 to $20.00 and gave the company a "buy" rating in a report on Friday, November 15th. Jefferies Financial Group boosted their target price on Bloom Energy from $12.00 to $22.00 and gave the stock a "hold" rating in a report on Friday, November 22nd. Truist Financial decreased their price target on Bloom Energy from $13.00 to $12.00 and set a "hold" rating for the company in a research note on Wednesday, October 16th. Finally, Marathon Capitl raised Bloom Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $21.92.

Bloom Energy Stock Performance

BE stock traded up $1.21 on Thursday, reaching $24.81. The company's stock had a trading volume of 6,252,941 shares, compared to its average volume of 6,593,817. Bloom Energy has a 52 week low of $8.41 and a 52 week high of $28.70. The company has a market capitalization of $5.67 billion, a P/E ratio of -44.30 and a beta of 3.04. The firm has a fifty day moving average of $16.32 and a two-hundred day moving average of $13.88. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.

Insider Activity

In related news, CEO Kr Sridhar sold 46,697 shares of the firm'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 transaction of $1,167,425.00. Following the completion of the sale, the chief executive officer now directly owns 1,822,496 shares in the company, valued at approximately $45,562,400. This trade represents a 2.50 % decrease in their ownership of the stock. 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 that occurred on Monday, November 18th. The shares were sold at an average price of $24.56, for a total transaction of $31,657.84. Following the completion of the transaction, the insider now owns 168,561 shares in the company, valued at approximately $4,139,858.16. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,975 shares of company stock worth $3,045,019 over the last 90 days. 8.81% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bloom Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Electron Capital Partners LLC grew its stake in shares of Bloom Energy by 131.5% in the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company's stock valued at $38,592,000 after buying an additional 1,790,733 shares in the last quarter. JAT Capital Mgmt LP raised its position in Bloom Energy by 50.0% during the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company's stock valued at $23,221,000 after acquiring an additional 733,363 shares in the last quarter. DigitalBridge Group Inc. lifted its stake in Bloom Energy by 66.3% in the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company's stock valued at $14,203,000 after acquiring an additional 462,581 shares during the last quarter. Pinnacle Associates Ltd. grew its position in Bloom Energy by 48.6% in the second quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company's stock worth $10,644,000 after acquiring an additional 284,298 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in Bloom Energy by 64.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 830,405 shares of the company's stock worth $11,017,000 after buying an additional 325,814 shares during the last quarter. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

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.