Bloom Energy (NYSE:BE) Price Target Raised to $20.00

Bloom Energy (NYSE:BE) had its target price upped by BTIG Research from $16.00 to $20.00 in a research note released on Friday morning,Benzinga reports. BTIG Research currently has a buy rating on the stock.

Other research analysts have also issued research reports about the stock. Marathon Capitl raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Susquehanna increased their price target on Bloom Energy from $13.00 to $16.00 and gave the company a “positive” rating in a research report on Tuesday, November 12th. Truist Financial lowered their target price on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research note on Wednesday, October 16th. Piper Sandler raised Bloom Energy from a “neutral” rating to an “overweight” rating and upped their price target for the company from $10.00 to $20.00 in a report on Friday. Finally, Robert W. Baird dropped their price objective on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Bloom Energy presently has a consensus rating of “Moderate Buy” and an average target price of $16.11.

Bloom Energy Trading Up 59.2 %

Shares of Bloom Energy stock opened at $21.14 on Friday. Bloom Energy has a 1-year low of $8.41 and a 1-year high of $22.50. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 3.33. The stock has a market cap of $4.83 billion, a P/E ratio of -37.75 and a beta of 2.71. The stock’s 50 day simple moving average is $10.82 and its 200-day simple moving average is $12.28.

Institutional Investors Weigh In On Bloom Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Electron Capital Partners LLC raised its stake in shares of Bloom Energy by 131.5% in the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock valued at $38,592,000 after purchasing an additional 1,790,733 shares in the last quarter. JAT Capital Mgmt LP increased its position in Bloom Energy by 50.0% in the 3rd 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. Artemis Investment Management LLP bought a new position in Bloom Energy in the 2nd quarter worth approximately $7,502,000. DigitalBridge Group Inc. lifted its stake in shares of Bloom Energy by 66.3% during the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after acquiring an additional 462,581 shares during the period. Finally, Pier Capital LLC acquired a new position in Bloom Energy during the 2nd quarter valued at about $5,602,000. 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.