Bloom Energy (NYSE:BE) Given New $28.00 Price Target at Royal Bank of Canada

Bloom Energy (NYSE:BE - Get Free Report) had its price target boosted by equities researchers at Royal Bank of Canada from $15.00 to $28.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank of Canada's price objective would indicate a potential upside of 22.75% from the stock's previous close.

Several other analysts have also recently weighed in on BE. Truist Financial dropped their price target on Bloom Energy from $13.00 to $12.00 and set a "hold" rating for the company in a report on Wednesday, October 16th. Marathon Capitl raised Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, November 11th. 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 report on Friday. Jefferies Financial Group cut Bloom Energy from a "buy" rating to a "hold" rating and dropped their price objective for the company from $15.00 to $11.00 in a report on Friday, September 6th. Finally, Susquehanna lifted their price objective on Bloom Energy from $13.00 to $16.00 and gave the company a "positive" rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $17.17.

Bloom Energy Stock Performance

NYSE:BE traded up $1.67 during mid-day trading on Monday, hitting $22.81. 38,265,766 shares of the stock were exchanged, compared to its average volume of 6,399,957. The stock has a market capitalization of $5.21 billion, a price-to-earnings ratio of -42.09 and a beta of 2.71. The firm's 50-day simple moving average is $10.82 and its 200 day simple moving average is $12.28. The company has a debt-to-equity ratio of 3.09, a quick ratio of 3.33 and a current ratio of 3.36. Bloom Energy has a fifty-two week low of $8.41 and a fifty-two week high of $24.92.

Institutional Investors Weigh In On Bloom Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of BE. Millburn Ridgefield Corp grew its position 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 last quarter. Xponance Inc. grew its position in shares of Bloom Energy by 7.8% in the 2nd 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% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company's stock valued at $374,000 after buying an additional 1,349 shares during the last quarter. Arizona State Retirement System grew its position 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 valued at $696,000 after buying an additional 1,470 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in shares of Bloom Energy by 6.2% in the 1st quarter. ProShare Advisors LLC now owns 46,518 shares of the company's stock valued at $523,000 after buying an additional 2,719 shares during the last quarter. 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.