Bank of America Lowers Bloom Energy (NYSE:BE) Price Target to $18.00

Bloom Energy (NYSE:BE) had its target price dropped by stock analysts at Bank of America from $20.00 to $18.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “underperform” rating on the stock. Bank of America‘s price target points to a potential downside of 13.21% from the stock’s current price.

A number of other brokerages have also recently weighed in on BE. UBS Group raised their price objective on shares of Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. boosted their price target on Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Morgan Stanley increased their price objective on Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Marathon Capitl raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Finally, BMO Capital Markets upped their target price on shares of Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a report on Friday, November 15th. 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $23.13.

Bloom Energy Price Performance

NYSE BE traded down $1.68 during trading hours on Tuesday, reaching $20.74. The company’s stock had a trading volume of 5,472,353 shares, compared to its average volume of 7,018,656. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The stock has a market cap of $4.74 billion, a PE ratio of -37.04 and a beta of 3.06. The company’s 50-day moving average is $24.76 and its two-hundred day moving average is $16.27. Bloom Energy has a fifty-two week low of $8.41 and a fifty-two week high of $29.83.

Insider Activity

In related news, insider Shawn Marie Soderberg sold 1,289 shares of the stock in a transaction 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kr Sridhar sold 46,697 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $25.00, for a total value of $1,167,425.00. Following the transaction, the chief executive officer now owns 1,822,496 shares in the company, valued at approximately $45,562,400. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,528 shares of company stock valued at $3,061,501 in the last three months. Corporate insiders own 8.81% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Millburn Ridgefield Corp increased 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 acquiring an additional 528 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Bloom Energy during the 3rd quarter worth approximately $34,000. Avior Wealth Management LLC acquired a new position in shares of Bloom Energy in the 4th quarter valued at approximately $40,000. GAMMA Investing LLC boosted its stake in shares of Bloom Energy by 26.8% during the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock valued at $60,000 after buying an additional 569 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Bloom Energy during the third quarter worth approximately $74,000. Hedge funds and other institutional investors 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.