Bloom Energy (NYSE:BE) Sets New 1-Year High Following Analyst Upgrade

Bloom Energy Co. (NYSE:BE) shares reached a new 52-week high during trading on Friday after BTIG Research raised their price target on the stock from $16.00 to $20.00. BTIG Research currently has a buy rating on the stock. Bloom Energy traded as high as $22.50 and last traded at $18.71, with a volume of 11573566 shares changing hands. The stock had previously closed at $13.28.

A number of other brokerages have also issued reports on BE. Jefferies Financial Group lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and decreased their target price for the company from $15.00 to $11.00 in a research report on Friday, September 6th. UBS Group decreased their price target on Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Bank of America cut their price objective on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a report on Thursday, November 7th. Robert W. Baird reduced their price objective on shares of Bloom Energy from $18.00 to $15.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, Piper Sandler upgraded shares of Bloom Energy from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $10.00 to $20.00 in a report on Friday. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Bloom Energy has a consensus rating of “Moderate Buy” and a consensus price target of $16.05.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors have recently bought and sold shares of BE. Millburn Ridgefield Corp boosted its position in Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after purchasing an additional 528 shares during the last quarter. Xponance Inc. grew its stake in shares of Bloom Energy by 7.8% in the 2nd quarter. Xponance Inc. now owns 12,542 shares of the company’s stock valued at $154,000 after buying an additional 903 shares in the last quarter. Kovitz Investment Group Partners LLC grew its stake in shares of Bloom Energy by 3.9% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company’s stock valued at $374,000 after buying an additional 1,349 shares in the last quarter. Arizona State Retirement System increased its holdings in Bloom Energy by 2.7% in the second quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock worth $696,000 after buying an additional 1,470 shares during the last quarter. Finally, Tocqueville Asset Management L.P. raised its holdings in shares of Bloom Energy by 3.1% during the 1st quarter. Tocqueville Asset Management L.P. now owns 59,250 shares of the company’s stock valued at $666,000 after purchasing an additional 1,800 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Trading Up 59.2 %

The company has a fifty day simple moving average of $10.82 and a two-hundred day simple moving average of $12.27. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 3.33. The company has a market capitalization of $4.81 billion, a P/E ratio of -37.76 and a beta of 2.71.

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.