Bloom Energy (NYSE:BE) Price Target Raised to $28.00

Bloom Energy (NYSE:BE) had its price target upped by Morgan Stanley from $20.00 to $28.00 in a research note released on Monday,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other brokerages have also recently issued reports on BE. BMO Capital Markets boosted their target price on Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a report on Friday. Piper Sandler raised shares of Bloom Energy from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $10.00 to $20.00 in a research report on Friday. Jefferies Financial Group lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and reduced their target price for the company from $15.00 to $11.00 in a report on Friday, September 6th. Marathon Capitl raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, Bank of America lowered their price objective on shares of Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.17.

Bloom Energy Price Performance

Shares of Bloom Energy stock opened at $22.81 on Monday. The business’s fifty day moving average price is $10.82 and its 200 day moving average price is $12.28. Bloom Energy has a twelve month low of $8.41 and a twelve month high of $24.92. The company has a current ratio of 3.36, a quick ratio of 3.33 and a debt-to-equity ratio of 3.09. The stock has a market capitalization of $5.21 billion, a P/E ratio of -40.73 and a beta of 2.71.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Millburn Ridgefield Corp raised its position in shares of Bloom Energy by 29.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after acquiring an additional 528 shares in the last quarter. ORG Partners LLC acquired a new stake in shares of Bloom Energy during the second quarter worth $40,000. Quest Partners LLC raised its holdings in shares of Bloom Energy by 2,780.0% during the second quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after purchasing an additional 3,475 shares during the period. Gilliland Jeter Wealth Management LLC bought a new position in shares of Bloom Energy in the 2nd quarter worth about $53,000. Finally, Mather Group LLC. acquired a new position in shares of Bloom Energy in the 2nd quarter valued at about $66,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

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.