BMO Capital Markets Forecasts Strong Price Appreciation for Bloom Energy (NYSE:BE) Stock

Bloom Energy (NYSE:BE - Free Report) had its target price raised by BMO Capital Markets from $12.00 to $19.50 in a research note published on Friday morning,Benzinga reports. The firm currently has a market perform rating on the stock.

BE has been the topic of several other reports. Susquehanna increased their price target on Bloom Energy from $13.00 to $16.00 and gave the stock a "positive" rating in a research report on Tuesday. Truist Financial cut their target price on Bloom Energy from $13.00 to $12.00 and set a "hold" rating for the company in a research note on Wednesday, October 16th. Jefferies Financial Group lowered Bloom Energy from a "buy" rating to a "hold" rating and decreased their target price for the company from $15.00 to $11.00 in a report on Friday, September 6th. Robert W. Baird decreased their price target on Bloom Energy from $18.00 to $15.00 and set an "outperform" rating for the company in a report on Friday, November 8th. Finally, Marathon Capitl upgraded Bloom Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Bloom Energy has a consensus rating of "Moderate Buy" and an average price target of $16.05.

Bloom Energy Stock Performance

BE stock traded up $7.86 during midday trading on Friday, reaching $21.15. The stock had a trading volume of 64,731,424 shares, compared to its average volume of 6,255,194. The stock has a market cap of $4.81 billion, a PE ratio of -37.76 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. The firm has a fifty day simple moving average of $10.82 and a two-hundred day simple moving average of $12.27. Bloom Energy has a 52-week low of $8.41 and a 52-week high of $22.50.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors have recently modified their holdings of the stock. Millburn Ridgefield Corp raised its holdings in Bloom Energy by 29.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company's stock worth $25,000 after acquiring an additional 528 shares during the period. ORG Partners LLC bought a new position in Bloom Energy in the 2nd quarter worth $40,000. Quest Partners LLC increased its holdings in shares of Bloom Energy by 2,780.0% during the 2nd 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 period. Gilliland Jeter Wealth Management LLC bought a new position in shares of Bloom Energy during the 2nd quarter worth about $53,000. Finally, Mather Group LLC. bought a new position in shares of Bloom Energy during the 2nd quarter worth about $66,000. Institutional investors and hedge funds own 77.04% of the company's stock.

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.