Bloom Energy (NYSE:BE) Stock Price Expected to Rise, UBS Group Analyst Says

Bloom Energy (NYSE:BE) had its price target hoisted by UBS Group from $21.00 to $33.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Robert W. Baird decreased their price objective on shares of Bloom Energy from $18.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Truist Financial decreased their price target on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research note on Wednesday, October 16th. Hsbc Global Res raised Bloom Energy to a “hold” rating in a research note on Wednesday, November 20th. Jefferies Financial Group lifted their target price on Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. Finally, Marathon Capitl raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $19.14.

Bloom Energy Stock Performance

BE stock opened at $27.21 on Tuesday. The firm has a market cap of $6.22 billion, a price-to-earnings ratio of -48.59 and a beta of 2.71. Bloom Energy has a twelve month low of $8.41 and a twelve month high of $28.70. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The business’s fifty day simple moving average is $13.21 and its two-hundred day simple moving average is $13.02.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 46,697 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the transaction, the chief executive officer now owns 1,822,496 shares in the company, valued at approximately $45,562,400. This represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction of $31,657.84. Following the completion of the transaction, the insider now directly owns 168,561 shares of the company’s stock, valued at approximately $4,139,858.16. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 122,975 shares of company stock worth $3,045,019 over the last three months. Corporate insiders own 8.81% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

Several hedge funds have recently made changes to their positions in BE. Millburn Ridgefield Corp grew its stake in Bloom Energy by 29.2% during the 3rd 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. Wilmington Savings Fund Society FSB purchased a new stake in Bloom Energy in the third quarter valued at approximately $34,000. ORG Partners LLC acquired a new position in Bloom Energy in the 2nd quarter worth approximately $40,000. Quest Partners LLC raised its position in Bloom Energy by 2,780.0% during the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after buying an additional 3,475 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC acquired a new stake in Bloom Energy during the 2nd quarter valued at approximately $53,000. 77.04% of the stock is owned by institutional investors and hedge funds.

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.