Bloom Energy (NYSE:BE) Given New $33.00 Price Target at Susquehanna

Bloom Energy (NYSE:BE) had its price target lifted by Susquehanna from $20.00 to $33.00 in a report issued on Friday,Benzinga reports. They currently have a positive rating on the stock.

A number of other research analysts have also issued reports on BE. Jefferies Financial Group lifted their target price on Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. Robert W. Baird reduced their price objective on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Truist Financial cut their target price on Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday, October 16th. UBS Group lifted their price target on Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, BMO Capital Markets upped their price objective on shares of Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Bloom Energy presently has a consensus rating of “Hold” and an average price target of $20.08.

Bloom Energy Stock Performance

Shares of BE opened at $27.08 on Friday. Bloom Energy has a 52-week low of $8.41 and a 52-week high of $28.70. The firm has a market capitalization of $6.19 billion, a PE ratio of -48.35 and a beta of 3.04. The firm has a 50-day moving average price of $15.47 and a 200 day moving average price of $13.72. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09.

Insider Activity

In other news, CEO Kr Sridhar sold 72,903 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the transaction, the chief executive officer now directly owns 1,869,593 shares in the company, valued at approximately $46,777,216.86. This represents a 3.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shawn Marie Soderberg sold 1,289 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $24.56, for a total transaction of $31,657.84. Following the completion of the sale, the insider now directly owns 168,561 shares of the company’s stock, valued at approximately $4,139,858.16. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 122,975 shares of company stock worth $3,045,019. Corporate insiders own 8.81% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Millburn Ridgefield Corp raised 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 last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Bloom Energy in the third quarter worth about $34,000. ORG Partners LLC bought a new position in shares of Bloom Energy during the 2nd quarter valued at about $40,000. Quest Partners LLC lifted its stake in Bloom Energy by 2,780.0% in the second 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. Finally, Gilliland Jeter Wealth Management LLC acquired a new stake in shares of Bloom Energy during the second quarter worth $53,000. 77.04% of the stock is currently owned by institutional investors.

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.