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

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

BE has been the subject of a number of other reports. Jefferies Financial Group increased their price objective on Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, November 22nd. Robert W. Baird increased their price objective on Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Susquehanna increased their price objective on Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a research report on Friday, December 6th. Piper Sandler increased their price objective on Bloom Energy from $20.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Finally, Roth Mkm began coverage on Bloom Energy in a research report on Wednesday, December 11th. They set a “neutral” rating and a $25.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $22.97.

Bloom Energy Stock Up 1.7 %

Bloom Energy stock opened at $22.69 on Thursday. Bloom Energy has a twelve month low of $8.41 and a twelve month high of $28.70. The stock has a 50 day moving average of $23.15 and a two-hundred day moving average of $15.50. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of -40.52 and a beta of 3.06.

Insider Activity at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 46,697 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the completion of the transaction, the chief executive officer now owns 1,822,496 shares of the company’s stock, valued at approximately $45,562,400. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Shawn Marie Soderberg sold 1,289 shares of the firm’s stock in a transaction 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 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 disclosure for this sale can be found here. Insiders sold 120,889 shares of company stock valued at $3,023,116 in the last ninety days. Corporate insiders own 8.81% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

Hedge funds have recently bought and sold shares of the stock. Joule Financial LLC purchased a new stake in shares of Bloom Energy in the fourth quarter valued at $348,000. Cypress Wealth Services LLC bought a new stake in Bloom Energy in the fourth quarter valued at about $275,000. Tsfg LLC increased its holdings in Bloom Energy by 20.2% in the fourth quarter. Tsfg LLC now owns 12,032 shares of the company’s stock valued at $267,000 after buying an additional 2,026 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Bloom Energy by 2.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 47,400 shares of the company’s stock valued at $1,053,000 after buying an additional 1,000 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings 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 buying an additional 569 shares during the last quarter. Hedge funds and other institutional investors 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.