JPMorgan Chase & Co. Issues Positive Forecast for Bloom Energy (NYSE:BE) Stock Price

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

A number of other brokerages have also recently weighed in on BE. HSBC cut Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price target for the company. in a research report on Wednesday, November 20th. Jefferies Financial Group boosted their price target on Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. Marathon Capitl upgraded shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Morgan Stanley boosted their price objective on shares of Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Finally, Bank of America boosted their price target on Bloom Energy from $7.00 to $20.00 and gave the company an “underperform” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Bloom Energy currently has an average rating of “Hold” and a consensus price target of $23.08.

Bloom Energy Price Performance

Shares of NYSE:BE traded up $0.29 during trading on Thursday, hitting $25.82. 1,252,420 shares of the stock were exchanged, 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 company has a market cap of $5.90 billion, a PE ratio of -46.11 and a beta of 3.06. The company has a fifty day moving average price of $24.31 and a two-hundred day moving average price of $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.

Insiders Place Their Bets

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $23.42, for a total value of $38,385.38. Following the completion of the sale, the insider now owns 171,040 shares of the company’s stock, valued at $4,005,756.80. The trade was a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kr Sridhar sold 46,697 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 1,822,496 shares in the company, valued at $45,562,400. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 122,528 shares of company stock worth $3,061,501 in the last quarter. 8.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bloom Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Avior Wealth Management LLC acquired a new position in shares of Bloom Energy in the 4th quarter worth approximately $40,000. Millburn Ridgefield Corp lifted its position in Bloom Energy by 29.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after buying an additional 528 shares in the last quarter. GAMMA Investing LLC lifted its position in Bloom Energy by 26.8% during the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after buying an additional 569 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Bloom Energy in the 3rd quarter valued at about $34,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in Bloom Energy in the 3rd quarter valued at about $74,000. 77.04% of the stock is currently owned by 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.