Bloom Energy (NYSE:BE – Free Report) had its price objective cut by Bank of America from $20.00 to $18.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an underperform rating on the stock.
BE has been the subject of several other reports. Royal Bank of Canada lifted their price target on shares of Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a report on Monday, November 18th. HSBC lowered Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 target price for the company. in a report on Wednesday, November 20th. Jefferies Financial Group boosted their price objective on Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. Truist Financial increased their target price on Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Finally, Robert W. Baird boosted their price target on shares of Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.13.
Read Our Latest Research Report on BE
Bloom Energy Stock Performance
Insider Activity at Bloom Energy
In related news, CEO Kr Sridhar sold 46,697 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the completion of the sale, the chief executive officer now directly owns 1,822,496 shares in the company, valued at approximately $45,562,400. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the completion of the transaction, the insider now owns 171,040 shares in the company, 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. Insiders sold 122,528 shares of company stock valued at $3,061,501 over the last 90 days. 8.81% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Bloom Energy
Several institutional investors have recently made changes to their positions in the company. JAT Capital Mgmt LP raised its position in Bloom Energy by 50.0% during the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock valued at $23,221,000 after acquiring an additional 733,363 shares in the last quarter. Elemental Capital Partners LLC bought a new position in shares of Bloom Energy during the 4th quarter valued at $33,612,000. Artemis Investment Management LLP lifted its stake in shares of Bloom Energy by 20.5% in the 3rd quarter. Artemis Investment Management LLP now owns 738,673 shares of the company’s stock valued at $7,800,000 after purchasing an additional 125,757 shares during the last quarter. Van ECK Associates Corp increased its position in Bloom Energy by 13.1% during the third quarter. Van ECK Associates Corp now owns 661,932 shares of the company’s stock worth $6,990,000 after buying an additional 76,536 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in Bloom Energy by 30.0% during the second quarter. Marshall Wace LLP now owns 510,315 shares of the company’s stock valued at $6,246,000 after buying an additional 117,648 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.
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.
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