Robert W. Baird Cuts Bloom Energy (NYSE:BE) Price Target to $27.00

Bloom Energy (NYSE:BE) had its price objective trimmed by Robert W. Baird from $32.00 to $27.00 in a research note published on Tuesday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other brokerages have also weighed in on BE. Piper Sandler reduced their price objective on Bloom Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Royal Bank of Canada restated an “outperform” rating on shares of Bloom Energy in a report on Tuesday, April 1st. Truist Financial raised their price objective on shares of Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a report on Thursday, January 16th. HSBC upgraded shares of Bloom Energy from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Tuesday, April 8th. Finally, Susquehanna cut their price target on shares of Bloom Energy from $33.00 to $26.00 and set a “positive” rating on the stock in a report on Monday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.13.

Bloom Energy Stock Performance

NYSE BE opened at $17.03 on Tuesday. The firm’s fifty day moving average price is $22.00 and its two-hundred day moving average price is $20.50. The stock has a market cap of $3.92 billion, a PE ratio of -30.41 and a beta of 3.27. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. Bloom Energy has a fifty-two week low of $9.02 and a fifty-two week high of $29.83.

Insider Transactions at Bloom Energy

In related news, insider Satish Chitoori sold 1,020 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the sale, the insider now directly owns 178,656 shares of the company’s stock, valued at $4,482,479.04. The trade was a 0.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 8.81% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

A number of hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Bloom Energy in the 4th quarter worth $93,951,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of Bloom Energy in the fourth quarter valued at $61,968,000. Elemental Capital Partners LLC bought a new position in shares of Bloom Energy in the fourth quarter valued at $33,612,000. Trivest Advisors Ltd acquired a new position in shares of Bloom Energy during the fourth quarter valued at about $30,539,000. Finally, Voloridge Investment Management LLC increased its position in shares of Bloom Energy by 323.6% during the fourth quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company’s stock worth $31,992,000 after acquiring an additional 1,100,352 shares in the last quarter. 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.