Morgan Stanley Raises Bloom Energy (NYSE:BE) Price Target to $28.00

Bloom Energy (NYSE:BE) had its price objective lifted by Morgan Stanley from $20.00 to $28.00 in a research report sent to investors on Monday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Several other research firms also recently weighed in on BE. Bank of America decreased their price target on shares of Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a research report on Thursday, November 7th. Truist Financial lowered their target price on Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday, October 16th. Marathon Capitl upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. UBS Group decreased their price objective on Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, Piper Sandler upgraded Bloom Energy from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $10.00 to $20.00 in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.55.

Bloom Energy Price Performance

NYSE BE opened at $23.94 on Monday. 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 capitalization of $5.47 billion, a P/E ratio of -44.27 and a beta of 2.71. The company has a 50-day moving average price of $11.64 and a 200-day moving average price of $12.53. Bloom Energy has a 52 week low of $8.41 and a 52 week high of $25.12.

Insider Buying and Selling

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy 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 sale, the insider now owns 168,561 shares of the company’s stock, valued at $4,139,858.16. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.81% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Millburn Ridgefield Corp lifted its position in Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after purchasing an additional 528 shares during the last quarter. ORG Partners LLC purchased a new stake in shares of Bloom Energy during the 2nd quarter valued at about $40,000. Quest Partners LLC raised its position 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 valued at $44,000 after buying an additional 3,475 shares in the last quarter. Gilliland Jeter Wealth Management LLC bought a new position in shares of Bloom Energy in the 2nd quarter valued at about $53,000. Finally, Mather Group LLC. purchased a new position in Bloom Energy in the second quarter worth about $66,000. 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.