Bloom Energy (NYSE:BE) Given New $27.00 Price Target at Robert W. Baird

Bloom Energy (NYSE:BE) had its price objective lowered by Robert W. Baird from $32.00 to $27.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

BE has been the subject of a number of other research reports. Piper Sandler reduced their target price on Bloom Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Redburn Atlantic cut Bloom Energy from a “neutral” rating to a “sell” rating and lowered their price target for the company from $14.50 to $10.00 in a research note on Wednesday, April 9th. Mizuho initiated coverage on shares of Bloom Energy in a research note on Tuesday, March 18th. They issued a “neutral” rating and a $28.00 target price for the company. JPMorgan Chase & Co. raised their price target on shares of Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Finally, TD Cowen upped their price objective 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. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.66.

Bloom Energy Trading Up 2.4 %

Bloom Energy stock opened at $18.33 on Tuesday. Bloom Energy has a 1 year low of $9.02 and a 1 year high of $29.83. The firm’s 50 day moving average price is $22.30 and its two-hundred day moving average price is $20.47. The firm has a market cap of $4.22 billion, a price-to-earnings ratio of -32.73 and a beta of 3.27. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

Insider Activity at Bloom Energy

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

Institutional Investors Weigh In On Bloom Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in Bloom Energy by 26.8% during the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after acquiring an additional 569 shares during the last quarter. Arizona State Retirement System boosted its stake in Bloom Energy by 1.3% in the fourth quarter. Arizona State Retirement System now owns 59,592 shares of the company’s stock worth $1,324,000 after purchasing an additional 759 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after purchasing an additional 812 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Bloom Energy by 291.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after buying an additional 934 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of 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. Institutional investors and hedge funds 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.