Bloom Energy (NYSE:BE) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Bloom Energy (NYSE:BE) had its price objective hoisted by Royal Bank of Canada from $15.00 to $28.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 17.92% from the stock’s previous close.

Several other research analysts have also commented on the company. Robert W. Baird dropped their price target on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Jefferies Financial Group lowered Bloom Energy from a “buy” rating to a “hold” rating and dropped their price target for the stock from $15.00 to $11.00 in a research report on Friday, September 6th. Truist Financial dropped their target price on Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, October 16th. Bank of America dropped their target price on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a research report on Thursday, November 7th. Finally, Marathon Capitl upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.17.

Bloom Energy Trading Up 4.1 %

BE opened at $23.75 on Monday. The firm has a market cap of $5.43 billion, a P/E ratio of -42.41 and a beta of 2.71. Bloom Energy has a 12 month low of $8.41 and a 12 month high of $24.92. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The stock has a 50-day moving average of $11.08 and a 200 day moving average of $12.36.

Insider Activity

In related news, insider Shawn Marie Soderberg sold 1,289 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the completion of the transaction, the insider now owns 168,561 shares of the company’s stock, valued at $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

Large investors have recently bought and sold shares of the business. Millburn Ridgefield Corp grew its holdings in Bloom Energy by 29.2% in the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after purchasing an additional 528 shares during the last quarter. ORG Partners LLC purchased a new position in Bloom Energy in the second quarter worth $40,000. Quest Partners LLC grew its holdings in Bloom Energy by 2,780.0% in 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 last quarter. Gilliland Jeter Wealth Management LLC purchased a new position in Bloom Energy in the second quarter worth $53,000. Finally, Mather Group LLC. purchased a new position in Bloom Energy in the second quarter worth $66,000. Institutional investors 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.