Bloom Energy Co. (NYSE:BE) Receives $24.29 Average Price Target from Analysts

Shares of Bloom Energy Co. (NYSE:BE) have earned a consensus rating of “Moderate Buy” from the twenty-two ratings firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $24.29.

Several research analysts have recently commented on BE shares. Mizuho began coverage on shares of Bloom Energy in a report on Tuesday, March 18th. They set a “neutral” rating and a $28.00 target price on the stock. JPMorgan Chase & Co. raised their price objective on Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Piper Sandler cut their target price on Bloom Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Hsbc Global Res upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Finally, Bank of America cut their price objective on shares of Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a research report on Tuesday, January 28th.

Bloom Energy Stock Up 4.6 %

BE opened at $17.63 on Thursday. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The stock has a fifty day moving average of $22.56 and a 200-day moving average of $20.37. Bloom Energy has a fifty-two week low of $9.02 and a fifty-two week high of $29.83. The company has a market capitalization of $4.06 billion, a P/E ratio of -31.48 and a beta of 3.27.

Insider Buying and Selling

In other news, insider Satish Chitoori sold 1,020 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the completion of the transaction, the insider now owns 178,656 shares of the company’s stock, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the sale, the insider now directly owns 171,040 shares in the company, valued at approximately $4,005,756.80. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bloom Energy

A number of hedge funds have recently made changes to their positions in BE. Norges Bank bought a new position in Bloom Energy during the fourth quarter worth $93,951,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of Bloom Energy in the 4th quarter worth about $61,968,000. Elemental Capital Partners LLC acquired a new position in shares of Bloom Energy in the 4th quarter valued at about $33,612,000. Trivest Advisors Ltd bought a new stake in shares of Bloom Energy during the 4th quarter valued at about $30,539,000. Finally, Voloridge Investment Management LLC grew its stake in Bloom Energy by 323.6% during the fourth quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company’s stock worth $31,992,000 after purchasing an additional 1,100,352 shares during the period. 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.