Bloom Energy (NYSE:BE) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Bloom Energy (NYSE:BE) had its price objective increased by investment analysts at Morgan Stanley from $28.00 to $35.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 43.68% from the stock’s current price.

A number of other research analysts also recently commented on BE. Truist Financial boosted their price target on Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. BMO Capital Markets reissued a “market perform” rating on shares of Bloom Energy in a research note on Friday, February 28th. Hsbc Global Res raised Bloom Energy to a “hold” rating in a research note on Wednesday, November 20th. Roth Capital raised Bloom Energy to a “hold” rating in a research note on Tuesday, December 10th. Finally, HSBC downgraded Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 target price for the company. in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $25.06.

Bloom Energy Stock Up 2.3 %

BE stock opened at $24.36 on Thursday. The company has a market cap of $5.61 billion, a PE ratio of -43.50 and a beta of 3.30. The business has a 50-day simple moving average of $24.08 and a 200 day simple moving average of $19.18. Bloom Energy has a 52 week low of $9.02 and a 52 week high of $29.83. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09.

Insider Activity at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total value of $38,385.38. Following the sale, the insider now directly owns 171,040 shares in the company, valued at $4,005,756.80. This represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Satish Chitoori sold 1,020 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the sale, the insider now owns 178,656 shares in the company, valued at $4,482,479.04. The trade was a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.81% of the stock is currently owned by company insiders.

Institutional Trading of Bloom Energy

Institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC grew its position in shares of Bloom Energy by 291.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after buying an additional 934 shares during the period. Mainstream Capital Management LLC acquired a new stake in shares of Bloom Energy during the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp grew its position in shares of Bloom Energy by 120.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after buying an additional 812 shares during the period. Quarry LP acquired a new stake in shares of Bloom Energy during the 4th quarter worth approximately $35,000. Finally, Avior Wealth Management LLC acquired a new stake in shares of Bloom Energy during the 4th quarter worth approximately $40,000. 77.04% of the stock is currently owned by 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.