Brokerages Set Bloom Energy Co. (NYSE:BE) PT at $22.45

Bloom Energy Co. (NYSE:BE) has been assigned an average recommendation of “Hold” from the twenty-three research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $22.45.

Several analysts recently weighed in on BE shares. HSBC lowered Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price objective on the stock. in a research note on Wednesday, November 20th. Truist Financial decreased their price target on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, October 16th. Bank of America increased their price objective on shares of Bloom Energy from $7.00 to $20.00 and gave the company an “underperform” rating in a research note on Monday, December 9th. Robert W. Baird boosted their target price on shares of Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Finally, BMO Capital Markets increased their price target on Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a research note on Friday, November 15th.

Bloom Energy Stock Up 4.5 %

NYSE BE opened at $25.41 on Tuesday. Bloom Energy has a fifty-two week low of $8.41 and a fifty-two week high of $28.70. The business has a fifty day moving average price of $21.30 and a two-hundred day moving average price of $14.99. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The stock has a market capitalization of $5.81 billion, a PE ratio of -45.37 and a beta of 3.06.

Insider Activity

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction that occurred on Monday, November 18th. The stock was 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 in the company, valued at approximately $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kr Sridhar sold 72,903 shares of the stock in a transaction that occurred 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 owns 1,869,593 shares in the company, 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. In the last three months, insiders have sold 122,975 shares of company stock valued at $3,045,019. 8.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BE. GAMMA Investing LLC increased its stake in Bloom Energy by 26.8% in the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock valued at $60,000 after purchasing an additional 569 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its position in Bloom Energy by 21.8% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 21,404 shares of the company’s stock valued at $226,000 after buying an additional 3,824 shares in the last quarter. Franklin Resources Inc. increased its position in Bloom Energy by 62.4% in the 3rd quarter. Franklin Resources Inc. now owns 125,598 shares of the company’s stock valued at $1,314,000 after buying an additional 48,258 shares in the last quarter. Peapack Gladstone Financial Corp raised its stake in Bloom Energy by 4.4% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 271,924 shares of the company’s stock worth $2,871,000 after buying an additional 11,525 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Bloom Energy in the third quarter valued at approximately $34,000. 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.