Piper Sandler Lowers Bloom Energy (NYSE:BE) Price Target to $31.00

Bloom Energy (NYSE:BE - Free Report) had its price objective trimmed by Piper Sandler from $33.00 to $31.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also commented on BE. JPMorgan Chase & Co. increased their price target on shares of Bloom Energy from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Thursday, January 23rd. BMO Capital Markets increased their price objective on Bloom Energy from $12.00 to $19.50 and gave the company a "market perform" rating in a report on Friday, November 15th. Susquehanna lifted their target price on shares of Bloom Energy from $20.00 to $33.00 and gave the stock a "positive" rating in a research note on Friday, December 6th. Morgan Stanley upped their price target on shares of Bloom Energy from $20.00 to $28.00 and gave the company an "overweight" rating in a research note on Monday, November 18th. Finally, 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 note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $24.47.

Bloom Energy Stock Down 3.2 %

Bloom Energy stock traded down $0.74 during midday trading on Friday, hitting $22.68. 12,884,422 shares of the company's stock were exchanged, compared to its average volume of 6,855,038. Bloom Energy has a 12 month low of $8.78 and a 12 month 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 company has a market cap of $5.18 billion, a PE ratio of -40.50 and a beta of 3.06. The firm has a 50-day moving average of $24.08 and a two-hundred day moving average of $18.21.

Insider Activity

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $4,005,756.80. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 8.81% of the company's stock.

Hedge Funds Weigh In On Bloom Energy

A number of hedge funds have recently made changes to their positions in BE. Mizuho Markets Americas LLC increased its position in shares of Bloom Energy by 8.2% during the third quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company's stock worth $4,335,000 after purchasing an additional 31,189 shares in the last quarter. Duff & Phelps Investment Management Co. acquired a new stake in shares of Bloom Energy in the third quarter valued at about $517,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Bloom Energy by 184.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 404,204 shares of the company's stock valued at $9,209,000 after buying an additional 262,247 shares during the last quarter. Parametrica Management Ltd purchased a new position in shares of Bloom Energy in the third quarter worth about $785,000. Finally, Edgestream Partners L.P. acquired a new position in Bloom Energy during the third quarter worth about $3,274,000. 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.