Truist Financial Increases Bloom Energy (NYSE:BE) Price Target to $22.00

Bloom Energy (NYSE:BE) had its price objective upped by investment analysts at Truist Financial from $11.00 to $22.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price target would suggest a potential downside of 8.26% from the company’s previous close.

Other research analysts also recently issued reports about the company. Susquehanna increased their price objective on Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a report on Friday, December 6th. Royal Bank of Canada raised 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. Bank of America lifted their price objective on shares of Bloom Energy from $7.00 to $20.00 and gave the company an “underperform” rating in a report on Monday, December 9th. Hsbc Global Res upgraded shares of Bloom Energy to a “hold” rating in a report on Wednesday, November 20th. Finally, Jefferies Financial Group raised their target price on shares of Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $22.97.

Bloom Energy Trading Up 1.8 %

BE opened at $23.98 on Thursday. The firm’s fifty day simple moving average is $23.62 and its 200 day simple moving average is $15.65. The stock has a market capitalization of $5.48 billion, a P/E ratio of -42.82 and a beta of 3.06. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. Bloom Energy has a 12 month low of $8.41 and a 12 month high of $28.70.

Insider Buying and Selling at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,289 shares of the 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 transaction, the insider now owns 168,561 shares in the company, valued at approximately $4,139,858.16. This trade represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kr Sridhar sold 72,903 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were 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 owns 1,869,593 shares of the company’s stock, 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. Insiders sold 122,528 shares of company stock valued at $3,061,501 in the last quarter. 3.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors have recently modified their holdings of BE. Quest Partners LLC raised its stake in Bloom Energy by 2,780.0% in the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after purchasing an additional 3,475 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new position in shares of Bloom Energy during the second quarter worth approximately $1,467,000. Moors & Cabot Inc. acquired a new stake in shares of Bloom Energy in the second quarter valued at approximately $263,000. Sei Investments Co. boosted its stake in shares of Bloom Energy by 86.2% in the second quarter. Sei Investments Co. now owns 44,436 shares of the company’s stock valued at $544,000 after buying an additional 20,565 shares during the period. Finally, Ensign Peak Advisors Inc grew its position in Bloom Energy by 8.1% during the second quarter. Ensign Peak Advisors Inc now owns 77,417 shares of the company’s stock worth $948,000 after buying an additional 5,800 shares in the last quarter. Institutional investors own 77.04% of the company’s stock.

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.