Bloom Energy (NYSE:BE) Price Target Raised to $20.00

Bloom Energy (NYSE:BE - Get Free Report) had its price objective lifted by equities research analysts at BTIG Research from $16.00 to $20.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. BTIG Research's price target would suggest a potential downside of 5.39% from the company's previous close.

Several other equities analysts also recently weighed in on the stock. Susquehanna raised their price target on shares of Bloom Energy from $13.00 to $16.00 and gave the stock a "positive" rating in a research note on Tuesday. Bank of America decreased their target price on shares of Bloom Energy from $8.00 to $7.00 and set an "underperform" rating on the stock in a research note on Thursday, November 7th. Robert W. Baird dropped their price target on Bloom Energy from $18.00 to $15.00 and set an "outperform" rating for the company in a research report on Friday, November 8th. Truist Financial reduced their price objective on Bloom Energy from $13.00 to $12.00 and set a "hold" rating on the stock in a research report on Wednesday, October 16th. Finally, Marathon Capitl upgraded Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $16.05.

Bloom Energy Price Performance

NYSE:BE traded up $7.86 during trading hours on Friday, hitting $21.14. 63,748,498 shares of the stock were exchanged, compared to its average volume of 6,255,194. The company has a market cap of $4.81 billion, a P/E ratio of -37.75 and a beta of 2.71. The firm's fifty day moving average price is $10.82 and its 200 day moving average price is $12.28. Bloom Energy has a 52-week low of $8.41 and a 52-week high of $22.50. The company has a current ratio of 3.36, a quick ratio of 3.33 and a debt-to-equity ratio of 3.09.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Millburn Ridgefield Corp raised its holdings in Bloom Energy by 29.2% in the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company's stock valued at $25,000 after acquiring an additional 528 shares in the last quarter. Xponance Inc. raised 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 in the last quarter. Kovitz Investment Group Partners LLC lifted its holdings in Bloom Energy by 3.9% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company's stock worth $374,000 after buying an additional 1,349 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Bloom Energy by 2.7% during 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 in the last quarter. Finally, Tocqueville Asset Management L.P. increased its holdings in shares of Bloom Energy by 3.1% in the 1st quarter. Tocqueville Asset Management L.P. now owns 59,250 shares of the company's stock valued at $666,000 after acquiring an additional 1,800 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company's stock.

About Bloom Energy

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.