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

Bloom Energy (NYSE:BE) had its price objective boosted by equities researchers at Morgan Stanley from $28.00 to $35.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 46.44% from the company’s previous close.

BE has been the topic of a number of other research reports. Mizuho started coverage on Bloom Energy in a report on Tuesday. They issued a “neutral” rating and a $28.00 price objective on the stock. Susquehanna lifted their price objective on Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a report on Friday, December 6th. Piper Sandler decreased their price target on Bloom Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. UBS Group upped their price target on Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, HSBC cut Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price target on the stock. in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $25.06.

Bloom Energy Price Performance

Shares of BE opened at $23.90 on Thursday. Bloom Energy has a twelve month low of $9.02 and a twelve month high of $29.83. The stock’s 50 day moving average is $24.10 and its two-hundred day moving average is $19.30. The firm has a market capitalization of $5.51 billion, a PE ratio of -42.68 and a beta of 3.30. 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 Buying and Selling at Bloom Energy

In other Bloom Energy news, insider Satish Chitoori sold 1,020 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the transaction, the insider now owns 178,656 shares of the company’s stock, valued at $4,482,479.04. This represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Shawn Marie Soderberg sold 1,639 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total value of $38,385.38. Following the transaction, the insider now directly owns 171,040 shares in the company, valued at approximately $4,005,756.80. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BE. Millburn Ridgefield Corp raised its position in shares of Bloom Energy by 29.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after buying an additional 528 shares during the period. GAMMA Investing LLC raised its position in shares of Bloom Energy by 26.8% in the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after buying an additional 569 shares during the period. Arizona State Retirement System raised its position in shares of Bloom Energy by 1.3% in the 4th quarter. Arizona State Retirement System now owns 59,592 shares of the company’s stock worth $1,324,000 after buying an additional 759 shares during the period. Jones Financial Companies Lllp raised its position in shares of Bloom Energy by 120.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after buying an additional 812 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in Bloom Energy by 291.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after purchasing an additional 934 shares during the period. 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.