Morgan Stanley Forecasts Strong Price Appreciation for Bloom Energy (NYSE:BE) Stock

Bloom Energy (NYSE:BE) had its price target hoisted by equities researchers at Morgan Stanley from $20.00 to $28.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 17.92% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. Robert W. Baird cut their price objective on shares of Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. BMO Capital Markets upped their price objective on shares of Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a report on Friday, November 15th. Truist Financial cut their price objective on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, October 16th. Marathon Capitl upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, Bank of America dropped their target price on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $17.17.

Bloom Energy Stock Performance

Shares of Bloom Energy stock opened at $23.75 on Monday. The company has a market capitalization of $5.43 billion, a PE ratio of -42.41 and a beta of 2.71. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The company has a 50-day simple moving average of $11.08 and a two-hundred day simple moving average of $12.36. Bloom Energy has a one year low of $8.41 and a one year high of $24.92.

Insiders Place Their Bets

In other news, insider Shawn Marie Soderberg sold 1,289 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $24.56, for a total transaction of $31,657.84. Following the transaction, the insider now owns 168,561 shares in the company, valued at $4,139,858.16. This trade represents a 0.76 % decrease in their position. 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.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BE. Millburn Ridgefield Corp raised its stake in Bloom Energy by 29.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after purchasing an additional 528 shares during the last quarter. Xponance Inc. raised its stake in Bloom Energy by 7.8% in the 2nd quarter. Xponance Inc. now owns 12,542 shares of the company’s stock valued at $154,000 after purchasing an additional 903 shares during the last quarter. Kovitz Investment Group Partners LLC raised its stake in Bloom Energy by 3.9% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company’s stock valued at $374,000 after purchasing an additional 1,349 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Bloom Energy by 2.7% in the 2nd quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock worth $696,000 after acquiring an additional 1,470 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of Bloom Energy by 6.2% in the 1st quarter. ProShare Advisors LLC now owns 46,518 shares of the company’s stock worth $523,000 after acquiring an additional 2,719 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.