Piper Sandler Forecasts Strong Price Appreciation for Bloom Energy (NYSE:BE) Stock

Bloom Energy (NYSE:BE) had its target price lifted by research analysts at Piper Sandler from $20.00 to $30.00 in a report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 16.46% from the company’s previous close.

Several other equities research analysts have also recently commented on BE. BTIG Research increased their price objective on Bloom Energy from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Marathon Capitl raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. 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 report on Wednesday. Truist Financial decreased their target price on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research note on Wednesday, October 16th. Finally, Susquehanna increased their target price on Bloom Energy from $13.00 to $16.00 and gave the company a “positive” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $18.66.

Bloom Energy Stock Performance

BE stock opened at $25.76 on Friday. The stock has a market capitalization of $5.89 billion, a PE ratio of -46.01 and a beta of 2.71. The stock’s 50 day simple moving average is $12.22 and its 200 day simple moving average is $12.71. Bloom Energy has a 12-month low of $8.41 and a 12-month high of $26.26. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09.

Insiders Place Their Bets

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the sale, the insider now owns 168,561 shares in the company, valued at $4,139,858.16. The trade was a 0.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kr Sridhar sold 72,903 shares of Bloom Energy stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total value 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 trade represents a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 122,975 shares of company stock worth $3,045,019. Corporate insiders own 8.81% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

Institutional investors have recently added to or reduced their stakes in the company. Duff & Phelps Investment Management Co. bought a new position in shares of Bloom Energy during the 3rd quarter valued at approximately $517,000. Pier Capital LLC raised its stake in Bloom Energy by 0.9% during the third quarter. Pier Capital LLC now owns 461,744 shares of the company’s stock valued at $4,876,000 after purchasing an additional 4,082 shares in the last quarter. Main Management ETF Advisors LLC bought a new position in Bloom Energy during the third quarter valued at $615,000. Kovitz Investment Group Partners LLC grew its stake in shares of Bloom Energy by 3.9% in the 3rd 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 in the last quarter. Finally, Temasek Holdings Private Ltd bought a new stake in shares of Bloom Energy in the 3rd quarter worth about $3,249,000. 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.