Bloom Energy Co. (NYSE:BE) Receives $23.08 Consensus Target Price from Brokerages

Bloom Energy Co. (NYSE:BE) has been given a consensus recommendation of “Hold” by the twenty-three research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $23.13.

Several research firms have weighed in on BE. Marathon Capitl raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. boosted their price target on Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Robert W. Baird boosted their price target on Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Morgan Stanley boosted their price target on Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Finally, Piper Sandler boosted their price target on Bloom Energy from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Monday.

Insider Activity at Bloom Energy

In other news, CEO Kr Sridhar sold 72,903 shares of the company’s stock in a transaction 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 completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,289 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the sale, the insider now owns 168,561 shares of the company’s stock, valued at approximately $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 122,528 shares of company stock worth $3,061,501 in the last ninety days. 8.81% of the stock is owned by company insiders.

Institutional Trading of Bloom Energy

Several institutional investors and hedge funds have recently modified their holdings of BE. Sei Investments Co. lifted its position in shares of Bloom Energy by 86.2% during the 2nd quarter. Sei Investments Co. now owns 44,436 shares of the company’s stock worth $544,000 after buying an additional 20,565 shares during the last quarter. Ensign Peak Advisors Inc increased its holdings in Bloom Energy by 8.1% in the 2nd quarter. Ensign Peak Advisors Inc now owns 77,417 shares of the company’s stock worth $948,000 after purchasing an additional 5,800 shares in the last quarter. Xponance Inc. increased its holdings in Bloom Energy by 7.8% in the 2nd quarter. Xponance Inc. now owns 12,542 shares of the company’s stock worth $154,000 after purchasing an additional 903 shares in the last quarter. Marshall Wace LLP increased its holdings in Bloom Energy by 30.0% in the 2nd quarter. Marshall Wace LLP now owns 510,315 shares of the company’s stock worth $6,246,000 after purchasing an additional 117,648 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in Bloom Energy in the 2nd quarter worth about $711,000. 77.04% of the stock is currently owned by institutional investors.

Bloom Energy Stock Up 9.8 %

Shares of Bloom Energy stock opened at $22.40 on Friday. The business’s 50 day simple moving average is $24.65 and its 200 day simple moving average is $16.36. Bloom Energy has a 52-week low of $8.41 and a 52-week high of $29.83. The firm has a market cap of $5.12 billion, a PE ratio of -40.00 and a beta of 3.06. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

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.