Truist Financial Increases Bloom Energy (NYSE:BE) Price Target to $22.00

Bloom Energy (NYSE:BE - Free Report) had its price target upped by Truist Financial from $11.00 to $22.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a hold rating on the stock.

BE has been the subject of a number of other research reports. BTIG Research increased their price objective on Bloom Energy from $20.00 to $30.00 and gave the stock a "buy" rating in a report on Monday, December 16th. Royal Bank of Canada increased their price target on shares of Bloom Energy from $15.00 to $28.00 and gave the stock an "outperform" rating in a research note on Monday, November 18th. Roth Mkm initiated coverage on shares of Bloom Energy in a report on Wednesday, December 11th. They issued a "neutral" rating and a $25.00 price objective on the stock. BMO Capital Markets raised their target price on shares of Bloom Energy from $12.00 to $19.50 and gave the company a "market perform" rating in a research note on Friday, November 15th. Finally, Marathon Capitl raised Bloom Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $22.97.

Bloom Energy Stock Up 1.8 %

Shares of BE stock traded up $0.42 during midday trading on Thursday, reaching $23.98. 5,489,392 shares of the stock were exchanged, compared to its average volume of 5,056,888. The firm has a market cap of $5.48 billion, a PE ratio of -42.82 and a beta of 3.06. 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 company's 50 day moving average is $23.41 and its two-hundred day moving average is $15.56. Bloom Energy has a 1 year low of $8.41 and a 1 year high of $28.70.

Insider Transactions at Bloom Energy

In related news, CEO Kr Sridhar sold 72,903 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,869,593 shares of the company's stock, valued at $46,777,216.86. This represents a 3.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,289 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $24.56, for a total value of $31,657.84. Following the completion of the sale, the insider now owns 168,561 shares in the company, valued at approximately $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 122,528 shares of company stock valued at $3,061,501 over the last 90 days. Company insiders own 3.50% of the company's stock.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millburn Ridgefield Corp lifted its holdings in shares of 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 buying an additional 528 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Bloom Energy in the 3rd quarter worth approximately $34,000. Avior Wealth Management LLC purchased a new position in Bloom Energy during the fourth quarter valued at approximately $40,000. Quest Partners LLC boosted its position in Bloom Energy by 2,780.0% during the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company's stock valued at $44,000 after acquiring an additional 3,475 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Bloom Energy by 26.8% in the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company's stock valued at $60,000 after acquiring an additional 569 shares during the period. Institutional investors 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.