Susquehanna Lowers Bloom Energy (NYSE:BE) Price Target to $26.00

Bloom Energy (NYSE:BE) had its price objective reduced by research analysts at Susquehanna from $33.00 to $26.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s price objective indicates a potential upside of 41.84% from the company’s previous close.

Several other equities research analysts have also commented on the company. BTIG Research boosted their price objective on Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. BMO Capital Markets reiterated a “market perform” rating on shares of Bloom Energy in a research report on Friday, February 28th. TD Cowen raised their price objective on Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a report on Friday, February 28th. HSBC raised shares of Bloom Energy from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Tuesday, April 8th. Finally, Mizuho began coverage on shares of Bloom Energy in a research note on Tuesday, March 18th. They issued a “neutral” rating and a $28.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Bloom Energy has a consensus rating of “Moderate Buy” and an average price target of $23.66.

Bloom Energy Stock Up 2.4 %

Shares of NYSE BE opened at $18.33 on Monday. The firm has a market cap of $4.22 billion, a price-to-earnings ratio of -32.73 and a beta of 3.27. The company’s 50-day simple moving average is $22.30 and its 200-day simple moving average is $20.47. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. Bloom Energy has a 52-week low of $9.02 and a 52-week high of $29.83.

Insider Buying and Selling at Bloom Energy

In other news, insider Satish Chitoori sold 1,020 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the completion of the transaction, the insider now directly owns 178,656 shares in the company, valued at $4,482,479.04. This trade represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the completion of the sale, the insider now owns 171,040 shares in the company, valued at $4,005,756.80. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Bloom Energy during the 3rd quarter worth approximately $34,000. Peapack Gladstone Financial Corp lifted its position in Bloom Energy by 4.4% in the third quarter. Peapack Gladstone Financial Corp now owns 271,924 shares of the company’s stock valued at $2,871,000 after acquiring an additional 11,525 shares during the last quarter. Franklin Resources Inc. lifted its position in Bloom Energy by 62.4% in the third quarter. Franklin Resources Inc. now owns 125,598 shares of the company’s stock valued at $1,314,000 after acquiring an additional 48,258 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in Bloom Energy by 21.8% in the third quarter. B. Riley Wealth Advisors Inc. now owns 21,404 shares of the company’s stock valued at $226,000 after acquiring an additional 3,824 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Bloom Energy by 26.8% during the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after purchasing an additional 569 shares during the last quarter. Hedge funds and other 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.