Piper Sandler Issues Positive Forecast for Bloom Energy (NYSE:BE) Stock Price

Bloom Energy (NYSE:BE) had its price target lifted by analysts at Piper Sandler from $30.00 to $33.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price suggests a potential upside of 40.66% from the stock’s previous close.

BE has been the topic of several other research reports. Susquehanna upped their price target on Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a report on Friday, December 6th. HSBC lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 target price on the stock. in a research note on Wednesday, November 20th. Roth Mkm started coverage on shares of Bloom Energy in a report on Wednesday, December 11th. They set a “neutral” rating and a $25.00 price target for the company. Truist Financial raised their price objective on shares of Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Finally, UBS Group boosted their target price on shares of Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Bloom Energy currently has a consensus rating of “Hold” and a consensus price target of $23.24.

Bloom Energy Stock Down 21.3 %

Bloom Energy stock opened at $23.46 on Monday. The firm has a market capitalization of $5.36 billion, a P/E ratio of -41.89 and a beta of 3.06. 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 twelve month low of $8.41 and a twelve month high of $29.83. The stock’s fifty day simple moving average is $24.77 and its 200-day simple moving average is $16.21.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 72,903 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the completion of the transaction, the chief executive officer now owns 1,869,593 shares in the company, valued at approximately $46,777,216.86. This represents a 3.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $31,657.84. Following the completion of the sale, the insider now directly owns 168,561 shares in the company, valued at approximately $4,139,858.16. The trade was a 0.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 122,528 shares of company stock worth $3,061,501. 8.81% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors have recently added to or reduced their stakes in BE. SeaBridge Investment Advisors LLC purchased a new stake in shares of Bloom Energy during the 4th quarter worth $251,000. Avior Wealth Management LLC acquired a new stake in shares of Bloom Energy in the fourth quarter valued at about $40,000. Wesbanco Bank Inc. boosted its holdings in Bloom Energy by 3.9% during the fourth quarter. Wesbanco Bank Inc. now owns 107,000 shares of the company’s stock worth $2,376,000 after buying an additional 4,000 shares in the last quarter. Chesley Taft & Associates LLC acquired a new position in Bloom Energy during the fourth quarter worth about $225,000. Finally, M.E. Allison & CO. Inc. purchased a new position in Bloom Energy in the fourth quarter valued at about $711,000. Hedge funds and other institutional investors 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.