Bloom Energy (NYSE:BE - Free Report) had its target price upped by Morgan Stanley from $28.00 to $35.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an overweight rating on the stock.
Several other analysts also recently issued reports on the company. TD Cowen raised their price target on Bloom Energy from $13.00 to $20.00 and gave the stock a "hold" rating in a report on Friday, February 28th. Hsbc Global Res upgraded Bloom Energy to a "hold" rating in a research note on Wednesday, November 20th. Mizuho began coverage on shares of Bloom Energy in a research report on Tuesday, March 18th. They set a "neutral" rating and a $28.00 price target for the company. BTIG Research lifted their price objective on shares of Bloom Energy from $20.00 to $30.00 and gave the company a "buy" rating in a research report on Monday, December 16th. Finally, Robert W. Baird upped their target price on shares of Bloom Energy from $15.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $25.06.
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Bloom Energy Stock Performance
Shares of NYSE BE traded down $0.92 during midday trading on Thursday, hitting $23.03. The company's stock had a trading volume of 5,717,804 shares, compared to its average volume of 6,700,013. The firm has a market cap of $5.31 billion, a P/E ratio of -41.12 and a beta of 3.30. Bloom Energy has a 1-year low of $9.02 and a 1-year high of $29.83. The firm's fifty day moving average price is $24.10 and its 200-day moving average price is $19.50. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.
Insider Transactions at Bloom Energy
In other news, insider Shawn Marie Soderberg sold 1,639 shares of the company's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the sale, the insider now directly owns 171,040 shares of the company's stock, valued at approximately $4,005,756.80. This represents a 0.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Satish Chitoori sold 1,020 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the sale, the insider now owns 178,656 shares in the company, valued at $4,482,479.04. This represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC grew its position in shares of Bloom Energy by 291.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock worth $28,000 after purchasing an additional 934 shares in the last quarter. Mainstream Capital Management LLC acquired a new stake in Bloom Energy during the fourth quarter worth approximately $28,000. Jones Financial Companies Lllp increased its stake in Bloom Energy by 120.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock worth $33,000 after acquiring an additional 812 shares during the period. Quarry LP acquired a new position in Bloom Energy in the 4th quarter valued at $35,000. Finally, Avior Wealth Management LLC bought a new stake in shares of Bloom Energy during the 4th quarter valued at $40,000. 77.04% of the stock is owned by institutional investors.
About Bloom Energy
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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.
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