Bloom Energy (NYSE:BE) Price Target Raised to $33.00

Bloom Energy (NYSE:BE) had its price objective increased by investment analysts at UBS Group from $21.00 to $33.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target suggests a potential upside of 27.56% from the stock’s previous close.

Several other equities analysts also recently weighed in on BE. Susquehanna lifted their target price on shares of Bloom Energy from $13.00 to $16.00 and gave the stock a “positive” rating in a research note on Tuesday, November 12th. Marathon Capitl upgraded shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. BTIG Research increased their price target on shares of Bloom Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Jefferies Financial Group lifted their price objective on shares of Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a report on Friday. Finally, Royal Bank of Canada lifted their price target on Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $19.18.

Bloom Energy Stock Performance

Shares of BE traded down $0.08 during mid-day trading on Tuesday, hitting $25.87. The stock had a trading volume of 1,395,684 shares, compared to its average volume of 6,499,742. The business has a fifty day moving average price of $12.54 and a 200-day moving average price of $12.82. Bloom Energy has a 52 week low of $8.41 and a 52 week high of $26.92. The firm has a market cap of $5.91 billion, a P/E ratio of -46.20 and a beta of 2.71. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.

Insider Activity

In related news, insider Shawn Marie Soderberg sold 1,289 shares of the stock in a transaction that occurred 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kr Sridhar sold 72,903 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total value of $1,824,033.06. Following the completion of the transaction, the chief executive officer now owns 1,869,593 shares in the company, valued at $46,777,216.86. The trade was a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 122,975 shares of company stock valued at $3,045,019 in the last quarter. 3.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bloom Energy

Large investors have recently bought and sold shares of the business. Millburn Ridgefield Corp boosted its stake in shares of Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after purchasing an additional 528 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Bloom Energy during the third quarter valued at approximately $34,000. ORG Partners LLC purchased a new position in shares of Bloom Energy in the 2nd quarter worth approximately $40,000. Quest Partners LLC raised its stake in shares of Bloom Energy by 2,780.0% during the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after acquiring an additional 3,475 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in shares of Bloom Energy during the second quarter worth $53,000. Institutional investors 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.