Bloom Energy (NYSE:BE) Price Target Raised to $22.00 at Truist Financial

Bloom Energy (NYSE:BE) had its target price upped by analysts at Truist Financial from $11.00 to $22.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective indicates a potential downside of 3.04% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. Susquehanna raised their target price on Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a research report on Friday, December 6th. BTIG Research lifted their price objective on Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. UBS Group lifted their price objective on Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Roth Capital upgraded Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. Finally, Bank of America lifted their price objective on Bloom Energy from $7.00 to $20.00 and gave the stock an “underperform” rating in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $22.97.

Bloom Energy Stock Performance

NYSE BE opened at $22.69 on Thursday. The company has a market cap of $5.19 billion, a PE ratio of -40.52 and a beta of 3.06. The stock’s 50 day simple moving average is $23.15 and its 200-day simple moving average is $15.50. Bloom Energy has a 1-year low of $8.41 and a 1-year high of $28.70. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.

Insider Activity

In related news, insider Shawn Marie Soderberg sold 1,289 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $24.56, for a total transaction of $31,657.84. Following the completion of the transaction, the insider now directly owns 168,561 shares of the company’s stock, valued at $4,139,858.16. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kr Sridhar sold 72,903 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total value of $1,824,033.06. Following the transaction, the chief executive officer now directly owns 1,869,593 shares of the company’s stock, valued at $46,777,216.86. The trade was a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 120,889 shares of company stock valued at $3,023,116. 8.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BE. Millburn Ridgefield Corp boosted its position in shares of Bloom Energy by 29.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after acquiring an additional 528 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Bloom Energy during the 3rd quarter worth about $34,000. Quest Partners LLC boosted its position in shares of Bloom Energy by 2,780.0% during the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after acquiring an additional 3,475 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Bloom Energy by 26.8% during the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after acquiring an additional 569 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in shares of Bloom Energy during the 3rd quarter worth about $74,000. 77.04% of the stock is owned by institutional investors and hedge funds.

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.