Bloom Energy (NYSE:BE) Given New $20.00 Price Target at BTIG Research

Bloom Energy (NYSE:BE) had its price objective hoisted by BTIG Research from $16.00 to $20.00 in a report issued on Friday morning,Benzinga reports. BTIG Research currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on BE. Bank of America lowered their price objective on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a research report on Thursday, November 7th. 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 report on Friday, November 8th. Piper Sandler upgraded shares of Bloom Energy from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $10.00 to $20.00 in a research note on Friday. UBS Group cut their price target on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, Truist Financial lowered their price objective on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.05.

Bloom Energy Stock Up 59.2 %

NYSE:BE traded up $7.86 during midday trading on Friday, reaching $21.14. 63,748,498 shares of the stock traded hands, compared to its average volume of 6,255,194. The business has a 50-day moving average of $10.82 and a two-hundred day moving average of $12.27. The company has a debt-to-equity ratio of 3.09, a quick ratio of 3.33 and a current ratio of 3.36. Bloom Energy has a 12-month low of $8.41 and a 12-month high of $22.50. The stock has a market capitalization of $4.81 billion, a PE ratio of -37.76 and a beta of 2.71.

Institutional Investors Weigh In On Bloom Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Millburn Ridgefield Corp grew its position in shares of Bloom Energy by 29.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after acquiring an additional 528 shares during the period. ORG Partners LLC acquired a new position in shares of Bloom Energy during the 2nd quarter worth approximately $40,000. Quest Partners LLC lifted its position in shares of Bloom Energy by 2,780.0% during the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after buying an additional 3,475 shares in the last quarter. Gilliland Jeter Wealth Management LLC purchased a new stake in Bloom Energy in the 2nd quarter worth $53,000. Finally, Mather Group LLC. acquired a new position in Bloom Energy during the second quarter worth $66,000. 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.