BMO Capital Markets Forecasts Strong Price Appreciation for Bloom Energy (NYSE:BE) Stock

Bloom Energy (NYSE:BE) had its price target increased by investment analysts at BMO Capital Markets from $12.00 to $19.50 in a research note issued on Friday,Benzinga reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 46.84% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird lowered their price objective on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Susquehanna boosted their price objective on Bloom Energy from $13.00 to $16.00 and gave the stock a “positive” rating in a research report on Tuesday. Marathon Capitl raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Monday. Jefferies Financial Group downgraded Bloom Energy from a “buy” rating to a “hold” rating and cut their target price for the stock from $15.00 to $11.00 in a research note on Friday, September 6th. Finally, Truist Financial dropped their price target on Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.11.

Bloom Energy Trading Down 2.4 %

Shares of NYSE:BE opened at $13.28 on Friday. The business’s fifty day simple moving average is $10.55 and its 200-day simple moving average is $12.19. Bloom Energy has a 12-month low of $8.41 and a 12-month high of $18.14. The company has a market capitalization of $3.02 billion, a PE ratio of -23.71 and a beta of 2.71. The company has a current ratio of 3.36, a quick ratio of 3.33 and a debt-to-equity ratio of 3.09.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Bloom Energy by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock worth $221,262,000 after purchasing an additional 156,434 shares during the period. Electron Capital Partners LLC boosted its position in shares of Bloom Energy by 131.5% during the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after purchasing an additional 1,790,733 shares during the period. JAT Capital Mgmt LP boosted its stake in shares of Bloom Energy by 50.0% in the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock valued at $23,221,000 after purchasing an additional 733,363 shares during the period. DigitalBridge Group Inc. increased its holdings in Bloom Energy by 66.3% during the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock worth $14,203,000 after purchasing an additional 462,581 shares during the period. Finally, Pinnacle Associates Ltd. increased its holdings in Bloom Energy by 48.6% in the second quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company’s stock valued at $10,644,000 after buying an additional 284,298 shares during the last quarter. 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.