Bloom Energy (NYSE:BE) Price Target Raised to $20.00

Bloom Energy (NYSE:BE) had its target price hoisted by equities research analysts at BTIG Research from $16.00 to $20.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price objective suggests a potential upside of 0.10% from the company’s previous close.

Several other brokerages also recently commented on BE. BMO Capital Markets upped 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. Truist Financial reduced their target price on Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, October 16th. UBS Group dropped their price target on Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Bank of America lowered their target price on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a research note on Thursday, November 7th. Finally, Marathon Capitl raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Bloom Energy currently has an average rating of “Moderate Buy” and an average price target of $16.05.

Bloom Energy Trading Up 50.5 %

BE traded up $6.70 during mid-day trading on Friday, reaching $19.98. The stock had a trading volume of 45,657,117 shares, compared to its average volume of 6,169,398. The firm’s fifty day simple moving average is $10.55 and its two-hundred day simple moving average is $12.19. The stock has a market capitalization of $4.55 billion, a P/E ratio of -35.68 and a beta of 2.71. Bloom Energy has a 52 week low of $8.41 and a 52 week high of $22.50. The company has a debt-to-equity ratio of 3.09, a quick ratio of 3.33 and a current ratio of 3.36.

Hedge Funds Weigh In On Bloom Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Parametrica Management Ltd bought a new stake in Bloom Energy in the 3rd quarter valued at $785,000. International Assets Investment Management LLC boosted its holdings in Bloom Energy by 1,490.8% in the 3rd quarter. International Assets Investment Management LLC now owns 185,328 shares of the company’s stock valued at $19,570,000 after purchasing an additional 173,678 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Bloom Energy by 762.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 504,591 shares of the company’s stock worth $5,712,000 after purchasing an additional 446,074 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Bloom Energy by 13.1% during the third quarter. Van ECK Associates Corp now owns 661,932 shares of the company’s stock worth $6,990,000 after purchasing an additional 76,536 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Bloom Energy by 99,266.7% in the first quarter. Russell Investments Group Ltd. now owns 146,069 shares of the company’s stock valued at $1,642,000 after buying an additional 145,922 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.