JPMorgan Chase & Co. Boosts Bloom Energy (NYSE:BE) Price Target to $16.00

Bloom Energy (NYSE:BE) had its target price hoisted by equities researchers at JPMorgan Chase & Co. from $14.00 to $16.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 46.04% from the company’s previous close.

BE has been the subject of several other research reports. Bank of America boosted their price objective on shares of Bloom Energy from $7.00 to $20.00 and gave the company an “underperform” rating in a research note on Monday, December 9th. HSBC cut shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price objective for the company. in a research note on Wednesday, November 20th. Royal Bank of Canada boosted their price target on shares of Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Jefferies Financial Group boosted their price target on shares of Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, November 22nd. Finally, Hsbc Global Res raised shares of Bloom Energy to a “hold” rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $23.08.

Bloom Energy Price Performance

Shares of NYSE:BE opened at $29.65 on Thursday. The company has a 50 day moving average of $24.77 and a 200 day moving average of $16.16. The stock has a market cap of $6.78 billion, a P/E ratio of -52.95 and a beta of 3.06. Bloom Energy has a 12 month low of $8.41 and a 12 month high of $29.83. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09.

Insider Activity at Bloom Energy

In related news, CEO Kr Sridhar sold 72,903 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the completion of the sale, the chief executive officer now directly owns 1,869,593 shares in the company, valued at $46,777,216.86. This represents a 3.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Shawn Marie Soderberg sold 1,289 shares of the company’s 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 owns 168,561 shares of the company’s stock, valued at $4,139,858.16. This trade represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 122,528 shares of company stock worth $3,061,501 in the last three months. 8.81% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BE. Electron Capital Partners LLC raised its holdings in Bloom Energy by 131.5% in the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after purchasing an additional 1,790,733 shares in the last quarter. JAT Capital Mgmt LP raised its holdings in Bloom Energy by 50.0% in the 3rd quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock worth $23,221,000 after purchasing an additional 733,363 shares in the last quarter. DigitalBridge Group Inc. raised its holdings in Bloom Energy by 66.3% in the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock worth $14,203,000 after purchasing an additional 462,581 shares in the last quarter. Erste Asset Management GmbH bought a new position in Bloom Energy in the 3rd quarter worth $3,762,000. Finally, Edgestream Partners L.P. bought a new position in Bloom Energy in the 3rd quarter worth $3,274,000. 77.04% of the stock is currently owned by institutional investors.

Bloom Energy Company Profile

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.