Bloom Energy Co. (NYSE:BE) Receives $22.45 Consensus Target Price from Brokerages

Shares of Bloom Energy Co. (NYSE:BE) have earned an average rating of “Hold” from the twenty-three analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $22.45.

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird boosted their price objective 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. Hsbc Global Res upgraded shares of Bloom Energy to a “hold” rating in a research report on Wednesday, November 20th. Royal Bank of Canada increased their price target on Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Truist Financial lowered their price objective 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. Finally, 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 report on Friday, November 22nd.

Insider Buying and Selling

In related news, insider Shawn Marie Soderberg sold 1,289 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were 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 owns 168,561 shares of the company’s stock, valued at $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kr Sridhar sold 46,697 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $25.00, for a total value of $1,167,425.00. Following the sale, the chief executive officer now directly owns 1,822,496 shares in the company, valued at $45,562,400. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,975 shares of company stock valued at $3,045,019 in the last 90 days. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

A number of hedge funds have recently made changes to their positions in the stock. Electron Capital Partners LLC raised its holdings in Bloom Energy by 131.5% in the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after purchasing an additional 1,790,733 shares in the last quarter. JAT Capital Mgmt LP grew its stake in shares of Bloom Energy by 50.0% during the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock worth $23,221,000 after acquiring an additional 733,363 shares during the last quarter. DigitalBridge Group Inc. increased its holdings in shares of Bloom Energy by 66.3% during the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after acquiring an additional 462,581 shares in the last quarter. Pier Capital LLC purchased a new position in shares of Bloom Energy in the 2nd quarter valued at approximately $5,602,000. Finally, Erste Asset Management GmbH purchased a new stake in Bloom Energy during the 3rd quarter worth approximately $3,762,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Bloom Energy Price Performance

Shares of NYSE:BE opened at $24.32 on Tuesday. The firm’s 50 day moving average price is $20.99 and its 200-day moving average price is $14.89. 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 stock has a market capitalization of $5.56 billion, a PE ratio of -43.43 and a beta of 3.04. Bloom Energy has a twelve month low of $8.41 and a twelve month high of $28.70.

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.