JPMorgan Chase & Co. Issues Positive Forecast for Bloom Energy (NYSE:BE) Stock Price

Bloom Energy (NYSE:BE) had its price target lifted by JPMorgan Chase & Co. from $14.00 to $16.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts have also issued reports on the stock. Marathon Capitl upgraded shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Morgan Stanley increased their price objective on Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. HSBC lowered Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price target on the stock. in a research report on Wednesday, November 20th. Susquehanna upped their target price on shares of Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a research note on Friday, December 6th. Finally, Roth Mkm assumed coverage on shares of Bloom Energy in a research note on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 price target for the company. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.08.

Bloom Energy Trading Up 8.5 %

Shares of NYSE BE opened at $27.69 on Thursday. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The stock has a market capitalization of $6.33 billion, a PE ratio of -49.45 and a beta of 3.06. Bloom Energy has a twelve month low of $8.41 and a twelve month high of $28.70. The stock has a fifty day simple moving average of $24.31 and a 200-day simple moving average of $15.96.

Insider Transactions at Bloom Energy

In related news, 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 $4,005,756.80. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kr Sridhar sold 46,697 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $25.00, for a total value of $1,167,425.00. Following the completion of the transaction, the chief executive officer now owns 1,822,496 shares in the company, valued at $45,562,400. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 122,528 shares of company stock worth $3,061,501. Insiders own 8.81% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Avior Wealth Management LLC acquired a new position in Bloom Energy during the 4th quarter worth approximately $40,000. Millburn Ridgefield Corp grew its holdings in Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after acquiring an additional 528 shares during the period. GAMMA Investing LLC raised its position in Bloom Energy by 26.8% in the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after acquiring an additional 569 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Bloom Energy in the third quarter valued at $34,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Bloom Energy during the 3rd quarter worth $74,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

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.