Piper Sandler Upgrades Bloom Energy (NYSE:BE) to “Overweight”

Bloom Energy (NYSE:BE) was upgraded by investment analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report issued on Friday, MarketBeat.com reports. The brokerage currently has a $20.00 price objective on the stock, up from their previous price objective of $10.00. Piper Sandler’s target price would suggest a potential downside of 5.39% from the company’s current price.

A number of other equities research analysts also recently issued reports on the stock. Jefferies Financial Group downgraded shares of Bloom Energy from a “buy” rating to a “hold” rating and decreased their price target for the company from $15.00 to $11.00 in a research note on Friday, September 6th. Marathon Capitl upgraded shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. UBS Group dropped their price target on Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Truist Financial decreased their price objective on Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday, October 16th. Finally, Robert W. Baird cut their target price on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Bloom Energy has an average rating of “Moderate Buy” and a consensus price target of $16.05.

Bloom Energy Stock Performance

NYSE BE opened at $21.14 on Friday. The stock has a market capitalization of $4.81 billion, a PE ratio of -37.75 and a beta of 2.71. Bloom Energy has a 1-year low of $8.41 and a 1-year high of $22.50. The business has a 50 day simple moving average of $10.82 and a two-hundred day simple moving average of $12.28. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 3.33.

Institutional Trading of Bloom Energy

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Bloom Energy by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock valued at $221,262,000 after purchasing an additional 156,434 shares during the last quarter. Electron Capital Partners LLC raised its stake in Bloom Energy by 131.5% in the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock valued at $38,592,000 after buying an additional 1,790,733 shares during the last quarter. JAT Capital Mgmt LP boosted its holdings in Bloom Energy by 50.0% in the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock worth $23,221,000 after acquiring an additional 733,363 shares in the last quarter. DigitalBridge Group Inc. grew its stake in shares of Bloom Energy by 66.3% during the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock worth $14,203,000 after acquiring an additional 462,581 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its holdings in shares of Bloom Energy by 48.6% during the second quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company’s stock valued at $10,644,000 after acquiring an additional 284,298 shares in the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

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.