Piper Sandler Upgrades Bloom Energy (NYSE:BE) to Overweight

Bloom Energy (NYSE:BE) was upgraded by analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report issued on Friday,Benzinga reports. The firm currently has a $20.00 target price on the stock, up from their previous target price of $10.00. Piper Sandler’s price objective indicates a potential upside of 50.60% from the stock’s previous close.

A number of other brokerages have also recently commented on BE. Marathon Capitl upgraded shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday. Bank of America decreased their target price on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a report on Thursday, November 7th. Truist Financial reduced their price objective on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday, October 16th. Robert W. Baird cut their target price on shares of Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Finally, UBS Group decreased their price target on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.61.

Bloom Energy Price Performance

Shares of NYSE BE opened at $13.28 on Friday. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of -23.71 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. The stock has a fifty day simple moving average of $10.55 and a two-hundred day simple moving average of $12.19. Bloom Energy has a 1-year low of $8.41 and a 1-year high of $18.14.

Institutional Investors Weigh In On Bloom Energy

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Bloom Energy by 0.8% in the first quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock valued at $221,262,000 after acquiring an additional 156,434 shares during the period. Electron Capital Partners LLC boosted its stake in shares of Bloom Energy by 131.5% during the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock valued at $38,592,000 after purchasing an additional 1,790,733 shares during the period. JAT Capital Mgmt LP raised its stake in Bloom Energy by 50.0% in the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock worth $23,221,000 after buying an additional 733,363 shares in the last quarter. DigitalBridge Group Inc. grew its position in Bloom Energy by 66.3% during the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after purchasing an additional 462,581 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its holdings in shares of Bloom Energy by 48.6% during the 2nd quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company’s stock valued at $10,644,000 after buying an additional 284,298 shares during the period. 77.04% of the stock is currently 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.