UBS Group Raises Bloom Energy (NYSE:BE) Price Target to $33.00

Bloom Energy (NYSE:BE) had its price target upped by equities research analysts at UBS Group from $21.00 to $33.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s target price would suggest a potential upside of 27.56% from the company’s previous close.

Several other brokerages have also recently commented on BE. Morgan Stanley lifted their price target on shares of Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Susquehanna upped their target price on shares of Bloom Energy from $13.00 to $16.00 and gave the company a “positive” rating in a research report on Tuesday, November 12th. BMO Capital Markets increased their price target on Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a research note on Friday, November 15th. Truist Financial decreased 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. Finally, Bank of America cut their target price on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Bloom Energy currently has a consensus rating of “Hold” and a consensus price target of $19.18.

Bloom Energy Price Performance

Shares of BE stock traded down $0.08 during trading hours on Tuesday, reaching $25.87. 1,395,684 shares of the company were exchanged, compared to its average volume of 6,499,742. Bloom Energy has a fifty-two week low of $8.41 and a fifty-two week high of $26.92. 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 stock’s fifty day moving average is $12.54 and its two-hundred day moving average is $12.82. The company has a market cap of $5.91 billion, a price-to-earnings ratio of -46.20 and a beta of 2.71.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of the business’s 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 owns 168,561 shares in the company, valued at approximately $4,139,858.16. The trade was a 0.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Kr Sridhar sold 72,903 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the completion of the transaction, the chief executive officer now directly owns 1,869,593 shares in the company, 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 have sold 122,975 shares of company stock valued at $3,045,019 over the last ninety days. 3.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bloom Energy

Several institutional investors have recently bought and sold shares of BE. Electron Capital Partners LLC lifted its position in shares of Bloom Energy by 131.5% during the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after buying an additional 1,790,733 shares in the last quarter. JAT Capital Mgmt LP grew its stake in Bloom Energy by 50.0% in the 3rd quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock valued at $23,221,000 after purchasing an additional 733,363 shares during the period. Artemis Investment Management LLP purchased a new stake in shares of Bloom Energy during the 2nd quarter valued at $7,502,000. DigitalBridge Group Inc. raised its stake in shares of Bloom Energy by 66.3% during the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock worth $14,203,000 after purchasing an additional 462,581 shares during the period. Finally, Pier Capital LLC purchased a new position in shares of Bloom Energy in the 2nd quarter worth about $5,602,000. 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.