Bloom Energy (NYSE:BE) Price Target Raised to $35.00 at Morgan Stanley

Bloom Energy (NYSE:BE) had its target price raised by Morgan Stanley from $28.00 to $35.00 in a report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also recently issued research reports about the stock. TD Cowen boosted their price target on shares of Bloom Energy from $13.00 to $20.00 and gave the stock a “hold” rating in a report on Friday, February 28th. Roth Capital upgraded shares of Bloom Energy to a “hold” rating in a report on Tuesday, December 10th. HSBC cut shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price target for the company. in a report on Wednesday, November 20th. Piper Sandler reduced their price objective on shares of Bloom Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Bloom Energy has an average rating of “Hold” and a consensus target price of $25.06.

Bloom Energy Trading Up 4.7 %

Shares of BE stock opened at $25.46 on Thursday. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. Bloom Energy has a fifty-two week low of $9.02 and a fifty-two week high of $29.83. The stock has a market capitalization of $5.87 billion, a P/E ratio of -45.46 and a beta of 3.30. The company has a 50 day moving average price of $24.10 and a 200 day moving average price of $19.22.

Insider Transactions at Bloom Energy

In other news, insider Satish Chitoori sold 1,020 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the sale, the insider now owns 178,656 shares in the company, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,639 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the sale, the insider now owns 171,040 shares of the company’s stock, valued at $4,005,756.80. This trade represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.81% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Bloom Energy by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company’s stock valued at $427,194,000 after purchasing an additional 356,317 shares in the last quarter. Norges Bank purchased a new position in shares of Bloom Energy in the 4th quarter valued at about $93,951,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Bloom Energy in the 4th quarter valued at about $61,968,000. JAT Capital Mgmt LP increased its holdings in shares of Bloom Energy by 50.0% in the 3rd quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock valued at $23,221,000 after purchasing an additional 733,363 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Bloom Energy by 7.3% in the 4th quarter. Legal & General Group Plc now owns 2,133,318 shares of the company’s stock valued at $47,381,000 after purchasing an additional 144,616 shares in the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

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.