Bloom Energy (NYSE:BE) Price Target Raised to $16.00

Bloom Energy (NYSE:BE) had its price target raised by research analysts at JPMorgan Chase & Co. from $14.00 to $16.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 38.03% from the company’s current price.

A number of other analysts have also weighed in on BE. Piper Sandler increased their target price on Bloom Energy from $20.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. HSBC cut shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price objective for the company. in a research report on Wednesday, November 20th. Roth Mkm assumed coverage on Bloom Energy in a research report on Wednesday, December 11th. They set a “neutral” rating and a $25.00 target price for the company. Robert W. Baird increased their price target on shares of Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Finally, Marathon Capitl raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bloom Energy presently has a consensus rating of “Hold” and a consensus target price of $23.08.

Bloom Energy Price Performance

BE traded up $0.29 during trading hours on Thursday, hitting $25.82. The company’s stock had a trading volume of 1,252,420 shares, compared to its average volume of 5,151,998. Bloom Energy has a 12 month low of $8.41 and a 12 month high of $28.70. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of -46.11 and a beta of 3.06. The business’s 50-day moving average price is $24.31 and its 200-day moving average price is $15.96. 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 Buying and Selling

In related news, 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 transaction, the insider now directly owns 168,561 shares in the company, valued at approximately $4,139,858.16. This represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kr Sridhar sold 72,903 shares of Bloom Energy stock in a transaction on 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 completion of the sale, the chief executive officer now owns 1,869,593 shares in the company, valued at $46,777,216.86. This represents a 3.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 122,528 shares of company stock worth $3,061,501. 8.81% of the stock is owned by corporate insiders.

Institutional Trading of Bloom Energy

Several institutional investors and hedge funds have recently bought and sold shares of BE. Millburn Ridgefield Corp lifted its position in shares of Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after purchasing an additional 528 shares in the last quarter. GAMMA Investing LLC increased its position 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 purchasing an additional 569 shares during the last quarter. Xponance Inc. grew its holdings in shares of Bloom Energy by 7.8% during the second quarter. Xponance Inc. now owns 12,542 shares of the company’s stock worth $154,000 after purchasing an additional 903 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Bloom Energy by 2.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 47,400 shares of the company’s stock worth $1,053,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its position in shares of Bloom Energy by 3.9% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company’s stock valued at $374,000 after purchasing an additional 1,349 shares during the period. 77.04% of the stock is currently 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.