Bloom Energy (NYSE:BE) Upgraded at Piper Sandler

Piper Sandler upgraded shares of Bloom Energy (NYSE:BE) from a neutral rating to an overweight rating in a research report released on Friday, Marketbeat Ratings reports. They currently have $20.00 target price on the stock, up from their prior target price of $10.00.

A number of other equities analysts also recently issued reports on BE. Bank of America dropped their price objective on shares of Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a research note on Thursday, November 7th. Truist Financial dropped their target price on Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday, October 16th. UBS Group reduced their price target on Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Jefferies Financial Group downgraded Bloom Energy from a “buy” rating to a “hold” rating and dropped their price objective for the company from $15.00 to $11.00 in a research report on Friday, September 6th. Finally, Robert W. Baird reduced their target price on shares of Bloom Energy from $18.00 to $15.00 and set an “outperform” rating for the company 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.11.

Bloom Energy Stock 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 price-to-earnings ratio of -37.75 and a beta of 2.71. The firm’s 50-day moving average is $10.82 and its two-hundred day moving average is $12.28.

Hedge Funds Weigh In On Bloom Energy

Hedge funds have recently made changes to their positions in the company. Millburn Ridgefield Corp boosted its position in Bloom Energy by 29.2% in the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after buying an additional 528 shares during the last quarter. ORG Partners LLC acquired a new stake in shares of Bloom Energy in the second quarter worth $40,000. Quest Partners LLC raised its holdings in shares of Bloom Energy by 2,780.0% during 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 acquired a new position in Bloom Energy during the second quarter valued at $53,000. Finally, Mather Group LLC. purchased a new stake in Bloom Energy in the second quarter valued at $66,000. 77.04% of the stock is 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.