Bloom Energy (NYSE:BE) Sets New 12-Month High After Analyst Upgrade

Bloom Energy Co. (NYSE:BE - Get Free Report) hit a new 52-week high on Friday after BTIG Research raised their price target on the stock from $16.00 to $20.00. BTIG Research currently has a buy rating on the stock. Bloom Energy traded as high as $22.50 and last traded at $18.71, with a volume of 11573566 shares changing hands. The stock had previously closed at $13.28.

Other equities analysts also recently issued research reports about the stock. Marathon Capitl raised shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday. Robert W. Baird cut their price target on shares of Bloom Energy from $18.00 to $15.00 and set an "outperform" rating on the stock in a report on Friday, November 8th. UBS Group cut their price target 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. Piper Sandler upgraded shares of Bloom Energy from a "neutral" rating to an "overweight" rating and increased their price target for the company from $10.00 to $20.00 in a report on Friday. Finally, Truist Financial cut their price target 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $16.05.

Institutional Trading of Bloom Energy

Several institutional investors and hedge funds have recently modified their holdings of BE. Duff & Phelps Investment Management Co. bought a new stake in Bloom Energy in the 3rd quarter valued at $517,000. Pier Capital LLC increased its holdings in shares of Bloom Energy by 0.9% in the 3rd quarter. Pier Capital LLC now owns 461,744 shares of the company's stock worth $4,876,000 after buying an additional 4,082 shares during the last quarter. Main Management ETF Advisors LLC bought a new stake in shares of Bloom Energy in the 3rd quarter worth about $615,000. Kovitz Investment Group Partners LLC increased its holdings 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 worth $374,000 after buying an additional 1,349 shares during the last quarter. Finally, Temasek Holdings Private Ltd bought a new stake in shares of Bloom Energy in the 3rd quarter worth about $3,249,000. 77.04% of the stock is currently owned by institutional investors.

Bloom Energy Stock Performance

The business's fifty day moving average price is $10.82 and its two-hundred day moving average price is $12.27. The company has a debt-to-equity ratio of 3.09, a quick ratio of 3.33 and a current ratio of 3.36. The stock has a market capitalization of $4.81 billion, a P/E ratio of -37.76 and a beta of 2.71.

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.