Jefferies Financial Group Forecasts Strong Price Appreciation for Bloom Energy (NYSE:BE) Stock

Bloom Energy (NYSE:BE) had its price target boosted by equities research analysts at Jefferies Financial Group from $12.00 to $22.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Jefferies Financial Group’s price target would suggest a potential downside of 14.60% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Robert W. Baird lowered their price target on shares of Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. BMO Capital Markets upped their target price on shares of Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a research report on Friday, November 15th. UBS Group reduced their price target on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Marathon Capitl upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Finally, BTIG Research lifted their price objective on Bloom Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Bloom Energy presently has a consensus rating of “Hold” and a consensus target price of $18.66.

Bloom Energy Price Performance

Shares of BE traded up $1.82 during mid-day trading on Friday, hitting $25.76. The company’s stock had a trading volume of 10,521,421 shares, compared to its average volume of 6,503,232. The firm has a 50-day simple moving average of $11.91 and a 200 day simple moving average of $12.61. Bloom Energy has a 1-year low of $8.41 and a 1-year high of $26.26. The firm has a market capitalization of $5.89 billion, a P/E ratio of -46.00 and a beta of 2.71. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09.

Insider Activity

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $24.56, for a total transaction of $31,657.84. Following the transaction, the insider now owns 168,561 shares of the company’s stock, valued at $4,139,858.16. This trade represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 8.81% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BE. Electron Capital Partners LLC grew its stake in Bloom Energy by 131.5% during the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after buying an additional 1,790,733 shares during the period. JAT Capital Mgmt LP boosted its position in Bloom Energy by 50.0% during the 3rd quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock worth $23,221,000 after purchasing an additional 733,363 shares during the period. Artemis Investment Management LLP acquired a new stake in Bloom Energy in the 2nd quarter valued at $7,502,000. DigitalBridge Group Inc. increased its holdings in Bloom Energy by 66.3% in the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after purchasing an additional 462,581 shares in the last quarter. Finally, Pier Capital LLC purchased a new position in Bloom Energy in the second quarter valued at about $5,602,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

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.