Brokerages Set Bloom Energy Co. (NYSE:BE) Price Target at $24.47

Shares of Bloom Energy Co. (NYSE:BE) have been given a consensus recommendation of “Hold” by the twenty-one brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $25.06.

A number of research analysts recently issued reports on the stock. BMO Capital Markets reiterated a “market perform” rating on shares of Bloom Energy in a research note on Friday, February 28th. Robert W. Baird lifted their price objective on Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Susquehanna boosted their price objective on Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a research report on Friday, December 6th. Roth Capital raised Bloom Energy to a “hold” rating in a report on Tuesday, December 10th. Finally, Morgan Stanley increased their price objective on Bloom Energy from $28.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday.

Insider Activity

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction of $38,385.38. Following the transaction, the insider now owns 171,040 shares in the company, valued at $4,005,756.80. This represents a 0.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Satish Chitoori sold 1,020 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the transaction, 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. Corporate insiders own 8.81% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

Several hedge funds and other institutional investors have recently made changes to their positions in BE. Norges Bank acquired a new stake in Bloom Energy in the fourth quarter worth about $93,951,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of Bloom Energy in the 4th quarter valued at about $61,968,000. Elemental Capital Partners LLC acquired a new stake in shares of Bloom Energy during the 4th quarter worth approximately $33,612,000. Trivest Advisors Ltd bought a new stake in shares of Bloom Energy during the fourth quarter worth approximately $30,539,000. Finally, Voloridge Investment Management LLC lifted its holdings in Bloom Energy by 323.6% in the fourth quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company’s stock valued at $31,992,000 after buying an additional 1,100,352 shares during the period. 77.04% of the stock is owned by institutional investors and hedge funds.

Bloom Energy Stock Up 4.7 %

Shares of Bloom Energy stock opened at $25.46 on Friday. Bloom Energy has a 12-month low of $9.02 and a 12-month high of $29.83. The stock has a market capitalization of $5.87 billion, a P/E ratio of -45.46 and a beta of 3.30. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The stock has a 50 day moving average price of $24.10 and a two-hundred day moving average price of $19.22.

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.