Bloom Energy (NYSE:BE) Price Target Raised to $33.00

Bloom Energy (NYSE:BE - Free Report) had its target price lifted by Piper Sandler from $30.00 to $33.00 in a research report sent to investors on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other research analysts also recently issued reports about the stock. Morgan Stanley increased their target price on shares of Bloom Energy from $20.00 to $28.00 and gave the company an "overweight" rating in a research report on Monday, November 18th. BTIG Research increased their price objective on Bloom Energy from $20.00 to $30.00 and gave the company a "buy" rating in a report on Monday, December 16th. Susquehanna boosted their target price on Bloom Energy from $20.00 to $33.00 and gave the company a "positive" rating in a research note on Friday, December 6th. HSBC downgraded Bloom Energy from a "buy" rating to a "hold" rating and set a $24.50 price target for the company. in a research note on Wednesday, November 20th. Finally, Marathon Capitl raised shares of 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, twelve have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Bloom Energy currently has a consensus rating of "Hold" and a consensus target price of $23.13.

Bloom Energy Stock Performance

Shares of NYSE:BE traded up $0.06 during midday trading on Monday, reaching $23.58. The company had a trading volume of 6,080,240 shares, compared to its average volume of 7,707,756. Bloom Energy has a 52-week low of $8.41 and a 52-week high of $29.83. The company's 50 day moving average price is $24.64 and its 200 day moving average price is $16.41. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The stock has a market cap of $5.39 billion, a P/E ratio of -42.11 and a beta of 3.06.

Insider Buying and Selling

In other Bloom Energy news, CEO Kr Sridhar sold 72,903 shares of the business's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total value of $1,824,033.06. Following the completion of the transaction, the chief executive officer now owns 1,869,593 shares of the company's stock, valued at $46,777,216.86. The trade was a 3.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shawn Marie Soderberg sold 1,639 shares of the firm's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction of $38,385.38. Following the sale, the insider now owns 171,040 shares in the company, valued at approximately $4,005,756.80. This trade represents a 0.95 % 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 over the last ninety days. 8.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bloom Energy

A number of hedge funds and other institutional investors have recently modified their holdings of BE. Mizuho Markets Americas LLC lifted its position in Bloom Energy by 8.2% in the 3rd quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company's stock worth $4,335,000 after buying an additional 31,189 shares during the last quarter. Duff & Phelps Investment Management Co. purchased a new position in shares of Bloom Energy during the third quarter worth approximately $517,000. Parametrica Management Ltd bought a new stake in shares of Bloom Energy in the 3rd quarter worth approximately $785,000. Edgestream Partners L.P. purchased a new stake in shares of Bloom Energy in the 3rd quarter valued at $3,274,000. Finally, Penserra Capital Management LLC grew its holdings in shares of Bloom Energy by 20.7% during the 3rd quarter. Penserra Capital Management LLC now owns 165,660 shares of the company's stock valued at $1,749,000 after purchasing an additional 28,416 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.