Bloom Energy (NYSE:BE) Price Target Raised to $28.00 at Royal Bank of Canada

Bloom Energy (NYSE:BE) had its price objective upped by Royal Bank of Canada from $15.00 to $28.00 in a research report released on Monday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other research firms also recently commented on BE. Morgan Stanley lifted their target price on shares of Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday. Susquehanna lifted their price objective on Bloom Energy from $13.00 to $16.00 and gave the stock a “positive” rating in a report on Tuesday, November 12th. Robert W. Baird reduced their price objective on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. BMO Capital Markets raised their target price on Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a research report on Friday, November 15th. Finally, Truist Financial reduced 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 report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, nine have assigned 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.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.55.

Bloom Energy Stock Performance

BE stock opened at $24.79 on Monday. The stock’s 50 day simple moving average is $11.36 and its 200 day simple moving average is $12.45. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. Bloom Energy has a 12-month low of $8.41 and a 12-month high of $25.12. The stock has a market capitalization of $5.67 billion, a PE ratio of -43.09 and a beta of 2.71.

Insider Transactions at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the sale, the insider now owns 168,561 shares in the company, valued at $4,139,858.16. This trade represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

Several institutional investors have recently bought and sold shares of BE. Vanguard Group Inc. boosted its stake in shares of Bloom Energy by 0.8% in the first quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock worth $221,262,000 after acquiring an additional 156,434 shares during the last quarter. Electron Capital Partners LLC boosted its stake in Bloom Energy by 131.5% during the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after purchasing an additional 1,790,733 shares during the last quarter. JAT Capital Mgmt LP grew its holdings in shares of Bloom Energy by 50.0% during the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock worth $23,221,000 after buying an additional 733,363 shares in the last quarter. DigitalBridge Group Inc. raised its position in shares of Bloom Energy by 66.3% in the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after buying an additional 462,581 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its stake in shares of Bloom Energy by 48.6% in the second quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company’s stock worth $10,644,000 after buying an additional 284,298 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.