Bloom Energy (NYSE:BE) Coverage Initiated by Analysts at Mizuho

Equities researchers at Mizuho assumed coverage on shares of Bloom Energy (NYSE:BE) in a research note issued on Tuesday, MarketBeat reports. The brokerage set a “neutral” rating and a $28.00 price target on the stock. Mizuho’s price target indicates a potential upside of 15.89% from the company’s previous close.

Several other brokerages have also recently issued reports on BE. Hsbc Global Res raised shares of Bloom Energy to a “hold” rating in a report on Wednesday, November 20th. Bank of America decreased their price objective on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a report on Tuesday, January 28th. JPMorgan Chase & Co. raised their target price on Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Piper Sandler decreased their price target on Bloom Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Finally, Robert W. Baird raised their price objective on shares of Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $24.67.

Bloom Energy Price Performance

Shares of NYSE BE opened at $24.16 on Tuesday. Bloom Energy has a 52 week low of $9.02 and a 52 week high of $29.83. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The firm has a market cap of $5.57 billion, a P/E ratio of -43.14 and a beta of 3.30. The business’s 50 day moving average price is $24.10 and its 200 day moving average price is $19.06.

Insiders Place Their Bets

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total value of $38,385.38. Following the transaction, the insider now owns 171,040 shares in the company, valued at approximately $4,005,756.80. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.81% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bloom Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Bloom Energy by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company’s stock valued at $427,194,000 after acquiring an additional 356,317 shares in the last quarter. Norges Bank acquired a new position in shares of Bloom Energy during the 4th quarter worth approximately $93,951,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Bloom Energy in the fourth quarter valued at approximately $61,968,000. JAT Capital Mgmt LP increased its holdings in shares of Bloom Energy by 50.0% in the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock valued at $23,221,000 after purchasing an additional 733,363 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Bloom Energy by 7.3% during the fourth quarter. Legal & General Group Plc now owns 2,133,318 shares of the company’s stock worth $47,381,000 after buying an additional 144,616 shares in the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

About Bloom Energy

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.