Bloom Energy (NYSE:BE) PT Lowered to $23.00

Bloom Energy (NYSE:BE) had its target price decreased by stock analysts at Susquehanna from $28.00 to $23.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s price objective points to a potential upside of 118.22% from the company’s previous close.

BE has been the topic of several other reports. Morgan Stanley cut their target price on shares of Bloom Energy from $29.00 to $23.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 17th. BMO Capital Markets dropped their price target on shares of Bloom Energy from $14.00 to $13.00 and set a “market perform” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. dropped their price target on shares of Bloom Energy from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, October 19th. Truist Financial dropped their price target on shares of Bloom Energy from $18.00 to $12.00 and set a “hold” rating on the stock in a research report on Monday, November 6th. Finally, Raymond James dropped their price target on shares of Bloom Energy from $25.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 3rd. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.87.

Bloom Energy Trading Down 3.0 %

BE opened at $10.54 on Friday. The company’s 50 day moving average is $12.43 and its 200-day moving average is $14.62. Bloom Energy has a 1-year low of $9.51 and a 1-year high of $26.55. The company has a current ratio of 3.64, a quick ratio of 1.58 and a debt-to-equity ratio of 2.48. The company has a market cap of $2.21 billion, a P/E ratio of -6.20 and a beta of 2.83.

Insider Activity at Bloom Energy

In related news, EVP Guillermo Brooks sold 3,792 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $12.47, for a total transaction of $47,286.24. Following the completion of the transaction, the executive vice president now owns 143,401 shares in the company, valued at $1,788,210.47. The transaction was disclosed in a document filed with the SEC, which is available through this link. 8.81% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bloom Energy

A number of large investors have recently modified their holdings of BE. Norges Bank bought a new position in shares of Bloom Energy in the fourth quarter valued at approximately $102,826,000. Vanguard Group Inc. raised its stake in Bloom Energy by 12.8% in the third quarter. Vanguard Group Inc. now owns 16,259,631 shares of the company’s stock valued at $325,030,000 after purchasing an additional 1,842,320 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in Bloom Energy by 391.5% in the second quarter. Frontier Capital Management Co. LLC now owns 2,252,606 shares of the company’s stock valued at $36,830,000 after purchasing an additional 1,794,303 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in Bloom Energy in the first quarter valued at approximately $15,759,000. Finally, Millennium Management LLC raised its stake in Bloom Energy by 885.1% in the fourth quarter. Millennium Management LLC now owns 860,687 shares of the company’s stock valued at $16,456,000 after purchasing an additional 773,317 shares in the last quarter. 82.95% of the stock is currently owned by 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.