Bloom Energy (NYSE:BE) Price Target Raised to $28.00

Bloom Energy (NYSE:BE) had its target price lifted by Royal Bank of Canada from $15.00 to $28.00 in a report released on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts have also issued reports on the company. Susquehanna upped their target price on Bloom Energy from $13.00 to $16.00 and gave the company a “positive” rating in a research report on Tuesday, November 12th. Piper Sandler raised shares of Bloom Energy from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $10.00 to $20.00 in a research report on Friday. Bank of America dropped their target price on shares of Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a research report on Thursday, November 7th. Morgan Stanley lifted their price objective on shares of Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, UBS Group cut their target price 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Bloom Energy currently has a consensus rating of “Moderate Buy” and an average price target of $17.17.

Bloom Energy Price Performance

NYSE BE opened at $22.81 on Monday. The firm’s fifty day simple moving average is $10.82 and its two-hundred day simple moving average is $12.28. The firm has a market capitalization of $5.21 billion, a P/E ratio of -40.73 and a beta of 2.71. The company has a current ratio of 3.36, a quick ratio of 3.33 and a debt-to-equity ratio of 3.09. Bloom Energy has a 12-month low of $8.41 and a 12-month high of $24.92.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BE. Millburn Ridgefield Corp increased 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 worth $25,000 after purchasing an additional 528 shares in the last quarter. ORG Partners LLC acquired a new stake in Bloom Energy during the 2nd quarter worth $40,000. Quest Partners LLC grew its holdings in shares of Bloom Energy by 2,780.0% during the second quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after buying an additional 3,475 shares in the last quarter. Gilliland Jeter Wealth Management LLC acquired a new stake in shares of Bloom Energy in the second quarter valued at about $53,000. Finally, Mather Group LLC. acquired a new position in Bloom Energy during the second quarter worth about $66,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

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.