Bloom Energy Co. (NYSE:BE) Receives $22.45 Average PT from Analysts

Bloom Energy Co. (NYSE:BE) has received an average rating of “Hold” from the twenty-three ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $22.45.

Several equities research analysts have weighed in on the company. Royal Bank of Canada increased their price target on Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Marathon Capitl raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Truist Financial lowered their price objective 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. BMO Capital Markets boosted their target price 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. Finally, UBS Group increased their price target on Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th.

Bloom Energy Price Performance

Shares of NYSE:BE opened at $24.32 on Tuesday. The company has a market cap of $5.56 billion, a PE ratio of -43.43 and a beta of 3.04. Bloom Energy has a twelve month low of $8.41 and a twelve month high of $28.70. The company’s 50 day moving average is $20.99 and its 200 day moving average is $14.89. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09.

Insider Transactions at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 72,903 shares of Bloom Energy stock in a transaction that occurred on Wednesday, November 20th. The stock was 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 owns 1,869,593 shares of the company’s stock, valued at $46,777,216.86. The trade was a 3.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Shawn Marie Soderberg sold 1,289 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $24.56, for a total transaction of $31,657.84. Following the sale, the insider now owns 168,561 shares of the company’s stock, valued at $4,139,858.16. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 122,975 shares of company stock valued at $3,045,019. 3.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bloom Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in Bloom Energy by 15.1% in the second quarter. Bank of New York Mellon Corp now owns 773,658 shares of the company’s stock valued at $9,470,000 after buying an additional 101,519 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Bloom Energy by 1,152.2% in the 2nd quarter. Principal Financial Group Inc. now owns 324,509 shares of the company’s stock worth $3,972,000 after acquiring an additional 298,593 shares during the period. International Assets Investment Management LLC acquired a new position in Bloom Energy during the second quarter worth $143,000. nVerses Capital LLC boosted its position in Bloom Energy by 384.0% during the second quarter. nVerses Capital LLC now owns 12,100 shares of the company’s stock worth $148,000 after purchasing an additional 9,600 shares in the last quarter. Finally, Natixis Advisors LLC increased its position in shares of Bloom Energy by 45.8% in the second quarter. Natixis Advisors LLC now owns 55,741 shares of the company’s stock valued at $682,000 after buying an additional 17,522 shares in the last quarter. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

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.