Bloom Energy (NYSE:BE) Price Target Raised to $33.00

Bloom Energy (NYSE:BE) had its price objective boosted by Susquehanna from $20.00 to $33.00 in a research note released on Friday morning,Benzinga reports. Susquehanna currently has a positive rating on the stock.

Several other research analysts also recently weighed in on the stock. HSBC downgraded shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price target on the stock. in a research report on Wednesday, November 20th. Truist Financial decreased their price objective on shares of 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 raised their price objective on shares of Bloom Energy from $21.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Royal Bank of Canada raised their price objective on shares of Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Finally, Robert W. Baird decreased their price objective on shares of Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. One investment 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $20.08.

Bloom Energy Stock Up 4.3 %

BE opened at $27.08 on Friday. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. Bloom Energy has a 1-year low of $8.41 and a 1-year high of $28.70. The company has a market capitalization of $6.19 billion, a PE ratio of -48.36 and a beta of 3.04. The firm’s 50 day simple moving average is $15.47 and its two-hundred day simple moving average is $13.68.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 72,903 shares of Bloom Energy stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total value of $1,824,033.06. Following the completion of the transaction, the chief executive officer now directly owns 1,869,593 shares of the company’s stock, valued at $46,777,216.86. This trade represents a 3.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction 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 transaction, the insider now directly owns 168,561 shares of the company’s stock, valued at $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 122,975 shares of company stock worth $3,045,019. Insiders own 8.81% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

A number of large investors have recently made changes to their positions in BE. Mizuho Markets Americas LLC boosted its position in Bloom Energy by 8.2% in the 3rd quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company’s stock valued at $4,335,000 after buying an additional 31,189 shares during the period. Parametrica Management Ltd purchased a new stake in Bloom Energy in the 3rd quarter valued at about $785,000. Edgestream Partners L.P. purchased a new stake in Bloom Energy in the 3rd quarter valued at about $3,274,000. Penserra Capital Management LLC boosted its position in Bloom Energy by 20.7% in the 3rd quarter. Penserra Capital Management LLC now owns 165,660 shares of the company’s stock valued at $1,749,000 after buying an additional 28,416 shares during the period. Finally, International Assets Investment Management LLC boosted its position in Bloom Energy by 1,490.8% in the 3rd quarter. International Assets Investment Management LLC now owns 185,328 shares of the company’s stock valued at $19,570,000 after buying an additional 173,678 shares during the period. 77.04% of the stock is owned by hedge funds and other 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.