Jefferies Financial Group Forecasts Strong Price Appreciation for Bloom Energy (NYSE:BE) Stock

Bloom Energy (NYSE:BE) had its price objective upped by equities research analysts at Jefferies Financial Group from $12.00 to $22.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Jefferies Financial Group’s price objective would suggest a potential downside of 14.60% from the company’s current price.

BE has been the topic of a number of other research reports. BMO Capital Markets boosted their target price on Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a research report on Friday, November 15th. Bank of America cut their price objective on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a report on Thursday, November 7th. Hsbc Global Res raised Bloom Energy to a “hold” rating in a research report on Wednesday. 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. Finally, UBS Group lowered their price objective on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $18.66.

Bloom Energy Price Performance

Shares of BE opened at $25.76 on Friday. The firm has a 50-day simple moving average of $12.22 and a two-hundred day simple moving average of $12.71. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. Bloom Energy has a 1-year low of $8.41 and a 1-year high of $26.26. The stock has a market cap of $5.89 billion, a PE ratio of -46.01 and a beta of 2.71.

Insider Buying and Selling

In other Bloom Energy news, CEO Kr Sridhar sold 46,697 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the sale, the chief executive officer now owns 1,822,496 shares of the company’s stock, valued at approximately $45,562,400. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shawn Marie Soderberg sold 1,289 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 168,561 shares of the company’s stock, valued at $4,139,858.16. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Over 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.

Institutional Investors Weigh In On Bloom Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Duff & Phelps Investment Management Co. acquired a new position in Bloom Energy in the third quarter valued at $517,000. Pier Capital LLC lifted its holdings in shares of Bloom Energy by 0.9% in the 3rd 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 during the last quarter. Main Management ETF Advisors LLC acquired a new stake in shares of Bloom Energy in the 3rd quarter valued at about $615,000. Kovitz Investment Group Partners LLC grew its stake in Bloom Energy by 3.9% during 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 during the last quarter. Finally, Temasek Holdings Private Ltd acquired a new position in Bloom Energy during the third quarter worth approximately $3,249,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.