Morgan Stanley Issues Positive Forecast for Bloom Energy (NYSE:BE) Stock Price

Bloom Energy (NYSE:BE) had its price target upped by equities researchers at Morgan Stanley from $20.00 to $28.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 32.45% from the company’s previous close.

A number of other equities research analysts have also commented on the company. Truist Financial dropped their price target 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. Robert W. Baird cut their price objective on shares of Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Piper Sandler upgraded Bloom Energy from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $10.00 to $20.00 in a report on Friday. BTIG Research boosted their price target on Bloom Energy from $16.00 to $20.00 and gave the company a “buy” rating in a report on Friday. Finally, Jefferies Financial Group downgraded Bloom Energy from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $15.00 to $11.00 in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $16.44.

Bloom Energy Trading Up 59.2 %

Shares of NYSE BE opened at $21.14 on Monday. The company has a quick ratio of 3.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. Bloom Energy has a twelve month low of $8.41 and a twelve month high of $22.50. The company’s fifty day moving average is $10.82 and its 200-day moving average is $12.28. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of -37.75 and a beta of 2.71.

Institutional Investors Weigh In On Bloom Energy

Hedge funds have recently added to or reduced their stakes in the business. Millburn Ridgefield Corp raised its position in shares of Bloom Energy by 29.2% in 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 period. Xponance Inc. grew its position in shares of Bloom Energy by 7.8% in the second quarter. Xponance Inc. now owns 12,542 shares of the company’s stock valued at $154,000 after purchasing an additional 903 shares during the last quarter. Kovitz Investment Group Partners LLC increased its stake in shares of Bloom Energy by 3.9% during the third quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company’s stock worth $374,000 after purchasing an additional 1,349 shares during the period. Arizona State Retirement System boosted its stake in Bloom Energy by 2.7% in the 2nd quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock valued at $696,000 after purchasing an additional 1,470 shares during the period. Finally, ProShare Advisors LLC grew its holdings in Bloom Energy by 6.2% in the 1st quarter. ProShare Advisors LLC now owns 46,518 shares of the company’s stock valued at $523,000 after buying an additional 2,719 shares in the last quarter. Institutional investors and hedge funds 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.