Bloom Energy Co. (NYSE:BE) Receives $24.18 Average Target Price from Brokerages

Shares of Bloom Energy Co. (NYSE:BE) have received an average recommendation of “Hold” from the twenty ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $24.18.

A number of brokerages recently weighed in on BE. HSBC downgraded shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price objective for the company. in a research report on Wednesday, November 20th. Robert W. Baird raised their price target on Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Piper Sandler upped their price objective on Bloom Energy from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. UBS Group raised their target price on Bloom Energy from $21.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Bank of America lowered their price target on shares of Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a research report on Tuesday, January 28th.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were 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 directly owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. This represents a 0.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Bloom Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC increased its holdings in shares of Bloom Energy by 1,490.8% in the third quarter. International Assets Investment Management LLC now owns 185,328 shares of the company’s stock valued at $19,570,000 after buying an additional 173,678 shares in the last quarter. Grassi Investment Management purchased a new position in shares of Bloom Energy in the third quarter worth approximately $106,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Bloom Energy by 57.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 46,400 shares of the company’s stock valued at $490,000 after acquiring an additional 16,973 shares during the period. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Bloom Energy during the third quarter valued at approximately $74,000. Finally, Van ECK Associates Corp lifted its position in shares of Bloom Energy by 13.1% in the 3rd quarter. Van ECK Associates Corp now owns 661,932 shares of the company’s stock valued at $6,990,000 after acquiring an additional 76,536 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors.

Bloom Energy Stock Down 3.0 %

Shares of Bloom Energy stock opened at $22.02 on Wednesday. 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 firm has a market cap of $5.03 billion, a P/E ratio of -39.32 and a beta of 3.06. Bloom Energy has a fifty-two week low of $8.41 and a fifty-two week high of $29.83. The business has a 50-day moving average price of $24.10 and a 200 day moving average price of $17.88.

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.