Bloom Energy (NYSE:BE - Get Free Report) had its price objective lowered by equities researchers at Bank of America from $20.00 to $18.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "underperform" rating on the stock. Bank of America's target price suggests a potential downside of 23.66% from the company's previous close.
A number of other brokerages also recently issued reports on BE. Robert W. Baird boosted their price target on Bloom Energy from $15.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday, December 12th. Susquehanna boosted their target price on shares of Bloom Energy from $20.00 to $33.00 and gave the company a "positive" rating in a research note on Friday, December 6th. Roth Mkm started coverage on shares of Bloom Energy in a research report on Wednesday, December 11th. They set a "neutral" rating and a $25.00 price target on the stock. HSBC downgraded shares of Bloom Energy from a "buy" rating to a "hold" rating and set a $24.50 price objective for the company. in a research report on Wednesday, November 20th. Finally, Morgan Stanley raised their target price on Bloom Energy from $20.00 to $28.00 and gave the company an "overweight" rating in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $23.13.
Check Out Our Latest Stock Report on Bloom Energy
Bloom Energy Stock Performance
BE traded up $0.06 during midday trading on Tuesday, hitting $23.58. 6,081,625 shares of the company were exchanged, compared to its average volume of 7,045,431. The company's 50 day simple moving average is $24.60 and its 200 day simple moving average is $16.48. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of -42.11 and a beta of 3.06. Bloom Energy has a 1-year low of $8.41 and a 1-year high of $29.83. 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 other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the transaction, the insider now directly owns 168,561 shares in the company, valued at $4,139,858.16. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Kr Sridhar sold 72,903 shares of the firm's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the sale, the chief executive officer now owns 1,869,593 shares of the company's stock, valued at $46,777,216.86. This represents a 3.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 122,528 shares of company stock worth $3,061,501 in the last three months. 8.81% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Bloom Energy
A number of hedge funds have recently modified their holdings of the business. Elemental Capital Partners LLC purchased a new stake in Bloom Energy in the fourth quarter valued at approximately $33,612,000. JAT Capital Mgmt LP grew its stake in shares of Bloom Energy by 50.0% in the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company's stock valued at $23,221,000 after buying an additional 733,363 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Bloom Energy in the 3rd quarter valued at $3,762,000. Edgestream Partners L.P. acquired a new position in Bloom Energy during the 3rd quarter worth about $3,274,000. Finally, Temasek Holdings Private Ltd purchased a new position in Bloom Energy during the 3rd quarter valued at about $3,249,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.
About Bloom Energy
(
Get Free Report)
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.
Featured Articles
Before you consider Bloom Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bloom Energy wasn't on the list.
While Bloom Energy currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
