BTIG Research Forecasts Strong Price Appreciation for Bloom Energy (NYSE:BE) Stock

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

Several other research firms also recently weighed in on BE. Jefferies Financial Group downgraded shares of Bloom Energy from a “buy” rating to a “hold” rating and decreased their price target for the stock from $15.00 to $11.00 in a research note on Friday, September 6th. Piper Sandler upgraded Bloom Energy from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $10.00 to $20.00 in a report on Friday. Robert W. Baird cut their price target on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Bank of America lowered their price objective on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a research note on Thursday, November 7th. Finally, Marathon Capitl upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Bloom Energy has a consensus rating of “Moderate Buy” and an average target price of $16.05.

Bloom Energy Price Performance

NYSE BE traded up $7.86 during mid-day trading on Friday, hitting $21.14. The stock had a trading volume of 63,748,498 shares, compared to its average volume of 6,255,194. Bloom Energy has a twelve month low of $8.41 and a twelve month high of $22.50. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 3.33. The firm’s 50 day moving average is $10.82 and its 200 day moving average is $12.27. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of -37.76 and a beta of 2.71.

Hedge Funds Weigh In On Bloom Energy

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