Bloom Energy (NYSE:BE) Price Target Raised to $16.00

Bloom Energy (NYSE:BE) had its price objective increased by Susquehanna from $13.00 to $16.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s price objective would suggest a potential upside of 22.42% from the stock’s current price.

BE has been the subject of a number of other reports. Bank of America reduced their target price on shares of Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a report on Thursday, November 7th. Piper Sandler restated a “neutral” rating and issued a $10.00 target price (down from $11.00) on shares of Bloom Energy in a report on Tuesday, October 29th. Robert W. Baird reduced their target price on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating for the company in a report on Friday. JPMorgan Chase & Co. lifted their price target on Bloom Energy from $12.00 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Finally, Jefferies Financial Group lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and reduced their price objective for the company from $15.00 to $11.00 in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $15.08.

Bloom Energy Price Performance

Bloom Energy stock traded down $0.55 during midday trading on Tuesday, hitting $13.07. The company’s stock had a trading volume of 1,305,234 shares, compared to its average volume of 5,976,710. Bloom Energy has a 12 month low of $8.41 and a 12 month high of $18.14. The company has a quick ratio of 3.33, a current ratio of 4.65 and a debt-to-equity ratio of 3.43. The company has a market capitalization of $2.98 billion, a PE ratio of -23.30 and a beta of 2.71. The stock’s 50-day moving average price is $10.42 and its 200-day moving average price is $12.13.

Institutional Investors Weigh In On Bloom Energy

Several hedge funds have recently made changes to their positions in BE. International Assets Investment Management LLC increased its holdings in Bloom Energy by 1,490.8% in the 3rd 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 during the period. DekaBank Deutsche Girozentrale raised its position in Bloom Energy by 762.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 504,591 shares of the company’s stock worth $5,712,000 after purchasing an additional 446,074 shares in the last quarter. Van ECK Associates Corp lifted its stake in Bloom Energy by 13.1% during the third quarter. Van ECK Associates Corp now owns 661,932 shares of the company’s stock worth $6,990,000 after purchasing an additional 76,536 shares during the period. Russell Investments Group Ltd. lifted its stake in Bloom Energy by 99,266.7% during the first quarter. Russell Investments Group Ltd. now owns 146,069 shares of the company’s stock worth $1,642,000 after purchasing an additional 145,922 shares during the period. Finally, DigitalBridge Group Inc. boosted its holdings in 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 purchasing an additional 462,581 shares in the last quarter. Institutional investors own 77.04% of the company’s stock.

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.