Bloom Energy (NYSE:BE) Price Target Raised to $20.00 at BTIG Research

Bloom Energy (NYSE:BE) had its target price raised by BTIG Research from $16.00 to $20.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts have also issued reports about the stock. Truist Financial decreased their price objective 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. Piper Sandler upgraded shares of Bloom Energy from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $10.00 to $20.00 in a report on Friday. 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 note on Tuesday, November 12th. Bank of America cut their target price on shares of Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a research note on Thursday, November 7th. Finally, 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.17.

Bloom Energy Stock Performance

Shares of BE stock opened at $22.81 on Friday. The firm’s 50 day moving average price is $10.82 and its 200-day moving average price is $12.28. The company has a debt-to-equity ratio of 3.09, a quick ratio of 3.33 and a current ratio of 3.36. Bloom Energy has a one year low of $8.41 and a one year high of $24.92. The firm has a market cap of $5.21 billion, a P/E ratio of -42.09 and a beta of 2.71.

Institutional Investors Weigh In On Bloom Energy

A number of large investors have recently modified their holdings of the company. Millburn Ridgefield Corp grew its position in shares of Bloom Energy by 29.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after buying an additional 528 shares during the last quarter. ORG Partners LLC purchased a new position in shares of Bloom Energy in the 2nd quarter valued at $40,000. Quest Partners LLC grew its position 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 buying an additional 3,475 shares during the last quarter. Gilliland Jeter Wealth Management LLC purchased a new position in shares of Bloom Energy in the 2nd quarter valued at $53,000. Finally, Mather Group LLC. purchased a new position in shares of Bloom Energy in the 2nd quarter valued at $66,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

About Bloom Energy

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.