Bloom Energy (NYSE:BE) Reaches New 12-Month High After Analyst Upgrade

Bloom Energy Co. (NYSE:BE) hit a new 52-week high during trading on Friday after BTIG Research raised their price target on the stock from $16.00 to $20.00. BTIG Research currently has a buy rating on the stock. Bloom Energy traded as high as $22.50 and last traded at $18.71, with a volume of 11573566 shares changing hands. The stock had previously closed at $13.28.

A number of other equities research analysts have also recently weighed in on the stock. Marathon Capitl upgraded shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Susquehanna lifted their target price on shares of Bloom Energy from $13.00 to $16.00 and gave the company a “positive” rating in a report on Tuesday. Truist Financial decreased their price target on Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday, October 16th. Jefferies Financial Group cut Bloom Energy from a “buy” rating to a “hold” rating and dropped their price objective for the company from $15.00 to $11.00 in a research note on Friday, September 6th. Finally, Bank of America dropped their target price on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $16.05.

Institutional Investors Weigh In On Bloom Energy

Several large investors have recently made changes to their positions in BE. Duff & Phelps Investment Management Co. purchased a new position in Bloom Energy in the third quarter valued at about $517,000. Pier Capital LLC boosted its stake in shares of Bloom Energy by 0.9% during the 3rd quarter. Pier Capital LLC now owns 461,744 shares of the company’s stock valued at $4,876,000 after buying an additional 4,082 shares during the last quarter. Main Management ETF Advisors LLC purchased a new position in shares of Bloom Energy during the 3rd quarter valued at approximately $615,000. Kovitz Investment Group Partners LLC increased its stake in shares of Bloom Energy by 3.9% in the third quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company’s stock worth $374,000 after buying an additional 1,349 shares during the last quarter. Finally, Temasek Holdings Private Ltd acquired a new stake in shares of Bloom Energy in the 3rd quarter valued at about $3,249,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Price Performance

The company has a quick ratio of 3.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of -37.76 and a beta of 2.71. The company has a 50 day simple moving average of $10.82 and a 200-day simple moving average of $12.27.

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.