Bloom Energy (NYSE:BE) Price Target Raised to $28.00

Bloom Energy (NYSE:BE) had its price target upped by Royal Bank of Canada from $15.00 to $28.00 in a report issued on Monday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other research analysts have also recently commented on BE. BTIG Research increased their price target on Bloom Energy from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 15th. UBS Group cut their price target on Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Truist Financial lowered their price objective on Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research note on Wednesday, October 16th. Jefferies Financial Group downgraded shares of Bloom Energy from a “buy” rating to a “hold” rating and cut their target price for the stock from $15.00 to $11.00 in a research report on Friday, September 6th. Finally, Morgan Stanley upped their price target on shares of Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.55.

Bloom Energy Price Performance

BE stock opened at $24.79 on Monday. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of -43.09 and a beta of 2.71. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The company has a 50 day simple moving average of $11.36 and a 200 day simple moving average of $12.45. Bloom Energy has a 1 year low of $8.41 and a 1 year high of $25.12.

Insider Transactions at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction on Monday, November 18th. The shares were sold at an average price of $24.56, for a total transaction of $31,657.84. Following the completion of the sale, the insider now directly owns 168,561 shares of the company’s stock, valued at approximately $4,139,858.16. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.50% of the company’s stock.

Institutional Trading of Bloom Energy

Several institutional investors have recently added to or reduced their stakes in BE. Russell Investments Group Ltd. boosted its position in Bloom Energy by 99,266.7% during the 1st quarter. Russell Investments Group Ltd. now owns 146,069 shares of the company’s stock valued at $1,642,000 after buying an additional 145,922 shares during the period. ProShare Advisors LLC boosted its position in Bloom Energy by 6.2% during the 1st quarter. ProShare Advisors LLC now owns 46,518 shares of the company’s stock valued at $523,000 after acquiring an additional 2,719 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Bloom Energy by 3.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 92,675 shares of the company’s stock worth $1,042,000 after purchasing an additional 3,499 shares during the period. Vanguard Group Inc. lifted its position in Bloom Energy by 0.8% during the first quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock valued at $221,262,000 after buying an additional 156,434 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Bloom Energy by 16.3% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 555,256 shares of the company’s stock valued at $6,241,000 after buying an additional 78,008 shares in the last quarter. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

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.