Bloom Energy (NYSE:BE) Upgraded at Piper Sandler

Bloom Energy (NYSE:BE) was upgraded by stock analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The firm presently has a $20.00 price objective on the stock, up from their prior price objective of $10.00. Piper Sandler’s price target indicates a potential downside of 5.39% from the company’s previous close.

Other analysts also recently issued reports about the stock. Marathon Capitl raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Jefferies Financial Group lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and lowered their price target for the company from $15.00 to $11.00 in a report on Friday, September 6th. Bank of America reduced their price objective on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a research note on Thursday, November 7th. Truist Financial lowered their target price on Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday, October 16th. Finally, Robert W. Baird decreased their price target on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bloom Energy currently has an average rating of “Moderate Buy” and an average target price of $16.05.

Bloom Energy Trading Up 59.2 %

Shares of NYSE:BE opened at $21.14 on Friday. The business has a 50-day moving average price of $10.82 and a 200-day moving average price of $12.28. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of -37.75 and a beta of 2.71. Bloom Energy has a 52-week low of $8.41 and a 52-week high of $22.50. The company has a quick ratio of 3.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09.

Institutional Investors Weigh In On Bloom Energy

Several large investors have recently bought and sold shares of BE. Parametrica Management Ltd purchased a new stake in shares of Bloom Energy during the third quarter worth $785,000. International Assets Investment Management LLC boosted its position in Bloom Energy by 1,490.8% during the third quarter. International Assets Investment Management LLC now owns 185,328 shares of the company’s stock worth $19,570,000 after acquiring an additional 173,678 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Bloom Energy by 762.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 504,591 shares of the company’s stock valued at $5,712,000 after acquiring an additional 446,074 shares during the last quarter. Van ECK Associates Corp lifted its stake in Bloom Energy by 13.1% in the 3rd quarter. Van ECK Associates Corp now owns 661,932 shares of the company’s stock worth $6,990,000 after purchasing an additional 76,536 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Bloom Energy by 99,266.7% during the 1st quarter. Russell Investments Group Ltd. now owns 146,069 shares of the company’s stock worth $1,642,000 after purchasing an additional 145,922 shares during the last quarter. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

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.