UBS Group Forecasts Strong Price Appreciation for Bloom Energy (NYSE:BE) Stock

Bloom Energy (NYSE:BE) had its target price lifted by research analysts at UBS Group from $21.00 to $33.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price target would indicate a potential upside of 21.28% from the company’s previous close.

BE has been the topic of several other reports. Royal Bank of Canada upped their price objective on shares of Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Hsbc Global Res upgraded shares of Bloom Energy to a “hold” rating in a research note on Wednesday, November 20th. Susquehanna lifted their price objective on shares of Bloom Energy from $13.00 to $16.00 and gave the company a “positive” rating in a research note on Tuesday, November 12th. 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. Finally, Piper Sandler lifted their target price on Bloom Energy from $20.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $19.14.

Bloom Energy Stock Performance

NYSE BE opened at $27.21 on Tuesday. The company has a market capitalization of $6.22 billion, a PE ratio of -50.20 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. Bloom Energy has a 52-week low of $8.41 and a 52-week high of $28.70. The company has a 50-day simple moving average of $12.87 and a 200 day simple moving average of $12.93.

Insider Buying and Selling

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 completion of the sale, the insider now owns 168,561 shares of the company’s stock, valued at approximately $4,139,858.16. This represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kr Sridhar sold 72,903 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the completion of the transaction, the chief executive officer now owns 1,869,593 shares in the company, valued at $46,777,216.86. This represents a 3.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 122,975 shares of company stock worth $3,045,019 in the last 90 days. 8.81% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bloom Energy

Several hedge funds and other institutional investors have recently modified their holdings of BE. Vanguard Group Inc. increased its holdings in Bloom Energy by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock valued at $221,262,000 after purchasing an additional 156,434 shares during the period. Electron Capital Partners LLC increased its stake in shares of Bloom Energy by 131.5% during the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock valued at $38,592,000 after buying an additional 1,790,733 shares during the period. JAT Capital Mgmt LP raised its holdings in shares of Bloom Energy by 50.0% during the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock valued at $23,221,000 after acquiring an additional 733,363 shares in the last quarter. DigitalBridge Group Inc. lifted its stake in Bloom Energy by 66.3% in the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock worth $14,203,000 after acquiring an additional 462,581 shares during the period. Finally, Pinnacle Associates Ltd. boosted its holdings in Bloom Energy by 48.6% in the second quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company’s stock valued at $10,644,000 after acquiring an additional 284,298 shares in the last quarter. 77.04% of the stock is owned by institutional investors.

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.