Piper Sandler Issues Positive Forecast for Bloom Energy (NYSE:BE) Stock Price

Bloom Energy (NYSE:BE) had its price objective upped by equities researchers at Piper Sandler from $20.00 to $30.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 19.57% from the stock’s previous close.

Several other analysts have also weighed in on the stock. BTIG Research boosted their target price on shares of Bloom Energy from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Robert W. Baird lowered their price target on shares of Bloom Energy from $18.00 to $15.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Royal Bank of Canada upped their price target on shares of Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday. Bank of America lowered their price target on shares of Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a research report on Thursday, November 7th. Finally, Truist Financial lowered their price target on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $18.08.

Bloom Energy Stock Performance

BE stock traded up $1.15 during trading on Friday, hitting $25.09. 2,715,607 shares of the company’s stock traded hands, compared to its average volume of 6,465,428. 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 52 week low of $8.41 and a 52 week high of $25.24. The stock has a fifty day moving average price of $11.91 and a two-hundred day moving average price of $12.61. The stock has a market capitalization of $5.74 billion, a price-to-earnings ratio of -44.80 and a beta of 2.71.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of the company’s stock in a transaction dated 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.81% of the stock is owned by corporate insiders.

Institutional Trading of Bloom Energy

Hedge funds have recently bought and sold shares of the company. Millburn Ridgefield Corp lifted its stake in 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 buying an additional 528 shares in the last quarter. ORG Partners LLC acquired a new position in shares of Bloom Energy in the 2nd quarter valued at about $40,000. Quest Partners LLC increased its holdings in shares of Bloom Energy by 2,780.0% in the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after purchasing an additional 3,475 shares during the period. Gilliland Jeter Wealth Management LLC acquired a new position in shares of Bloom Energy in the 2nd quarter valued at about $53,000. Finally, Mather Group LLC. acquired a new position in shares of Bloom Energy in the 2nd quarter valued at about $66,000. 77.04% of the stock is owned by hedge funds and other 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.