Bloom Energy (NYSE:BE) Raised to Overweight at Piper Sandler

Bloom Energy (NYSE:BE - Get Free Report) was upgraded by equities researchers at Piper Sandler from a "neutral" rating to an "overweight" rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The firm currently has a $20.00 target price on the stock, up from their prior target price of $10.00. Piper Sandler's target price indicates a potential downside of 4.12% from the company's current price.

BE has been the topic of several other reports. UBS Group dropped their price objective on shares of Bloom Energy from $25.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday, August 15th. Bank of America cut their price objective on shares of Bloom Energy from $8.00 to $7.00 and set an "underperform" rating for the company in a report on Thursday, November 7th. Truist Financial lowered their target price on shares of Bloom Energy from $13.00 to $12.00 and set a "hold" rating on the stock in a report on Wednesday, October 16th. Susquehanna lifted their price target on Bloom Energy from $13.00 to $16.00 and gave the company a "positive" rating in a research report on Tuesday. Finally, Jefferies Financial Group cut Bloom Energy from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $15.00 to $11.00 in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $16.05.

Bloom Energy Stock Performance

BE traded up $7.58 during midday trading on Friday, reaching $20.86. The company had a trading volume of 49,235,258 shares, compared to its average volume of 6,185,516. Bloom Energy has a 12-month low of $8.41 and a 12-month high of $22.50. The business has a 50-day moving average price of $10.55 and a two-hundred day moving average price of $12.19. The stock has a market cap of $4.75 billion, a PE ratio of -35.68 and a beta of 2.71. The company has a debt-to-equity ratio of 3.09, a quick ratio of 3.33 and a current ratio of 3.36.

Hedge Funds Weigh In On Bloom Energy

Large investors have recently modified their holdings of the company. Millburn Ridgefield Corp grew its position in Bloom Energy by 29.2% during 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 during the last quarter. ORG Partners LLC purchased a new position in Bloom Energy in the 2nd quarter worth $40,000. Quest Partners LLC lifted its stake in Bloom Energy by 2,780.0% in the second quarter. Quest Partners LLC now owns 3,600 shares of the company's stock worth $44,000 after purchasing an additional 3,475 shares during the last quarter. Gilliland Jeter Wealth Management LLC purchased a new stake in Bloom Energy during the second quarter valued at about $53,000. Finally, Mather Group LLC. bought a new position in shares of Bloom Energy during the second quarter valued at about $66,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

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.