Morgan Stanley Boosts Bloom Energy (NYSE:BE) Price Target to $28.00

Bloom Energy (NYSE:BE) had its price target upped by Morgan Stanley from $20.00 to $28.00 in a research note published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also issued reports on the stock. Susquehanna upped their target price on shares of Bloom Energy from $13.00 to $16.00 and gave the stock a “positive” rating in a research report on Tuesday, November 12th. UBS Group decreased their price objective 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. Piper Sandler upgraded Bloom Energy from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $10.00 to $20.00 in a research report on Friday, November 15th. Jefferies Financial Group cut Bloom Energy from a “buy” rating to a “hold” rating and decreased their price target for the company from $15.00 to $11.00 in a report on Friday, September 6th. Finally, Bank of America dropped their price objective on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $17.55.

Bloom Energy Stock Performance

Bloom Energy stock opened at $24.79 on Monday. The stock has a 50-day simple moving average of $11.36 and a 200 day simple moving average of $12.45. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of -43.09 and a beta of 2.71. The company has a quick ratio of 2.33, a current ratio of 3.36 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 $25.12.

Insiders Place Their Bets

In related news, insider Shawn Marie Soderberg sold 1,289 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $24.56, for a total transaction of $31,657.84. Following the sale, the insider now directly owns 168,561 shares in the company, valued at $4,139,858.16. This trade represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

A number of large investors have recently added to or reduced their stakes in the company. Duff & Phelps Investment Management Co. bought a new stake in Bloom Energy in the 3rd quarter valued at approximately $517,000. Pier Capital LLC lifted its position in shares of Bloom Energy by 0.9% in the third quarter. Pier Capital LLC now owns 461,744 shares of the company’s stock worth $4,876,000 after purchasing an additional 4,082 shares in the last quarter. Main Management ETF Advisors LLC bought a new stake in shares of Bloom Energy in the third quarter worth $615,000. Kovitz Investment Group Partners LLC grew its position in Bloom Energy by 3.9% in the third quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company’s stock valued at $374,000 after purchasing an additional 1,349 shares in the last quarter. Finally, Temasek Holdings Private Ltd acquired a new stake in Bloom Energy in the 3rd quarter valued at $3,249,000. Institutional investors 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.