Bloom Energy (NYSE:BE) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Bloom Energy (NYSE:BE) had its price objective lifted by JPMorgan Chase & Co. from $14.00 to $16.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Jefferies Financial Group upped their price target on shares of Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, November 22nd. Hsbc Global Res raised Bloom Energy to a “hold” rating in a research report on Wednesday, November 20th. Susquehanna boosted their price target on Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a research report on Friday, December 6th. Bank of America raised their price objective on Bloom Energy from $7.00 to $20.00 and gave the company an “underperform” rating in a research report on Monday, December 9th. Finally, BMO Capital Markets increased their price target on shares of Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $23.08.

Bloom Energy Stock Performance

Shares of Bloom Energy stock opened at $29.65 on Thursday. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The stock’s fifty day moving average price is $24.77 and its 200-day moving average price is $16.19. The firm has a market cap of $6.78 billion, a P/E ratio of -52.95 and a beta of 3.06. Bloom Energy has a 12 month low of $8.41 and a 12 month high of $29.83.

Insider Buying and Selling

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 completion of the sale, the insider now owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. This represents a 0.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kr Sridhar sold 72,903 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total value of $1,824,033.06. Following the transaction, the chief executive officer now owns 1,869,593 shares in the company, valued at approximately $46,777,216.86. This represents a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 122,528 shares of company stock valued at $3,061,501. 8.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bloom Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Electron Capital Partners LLC raised 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 valued at $38,592,000 after buying an additional 1,790,733 shares during the period. JAT Capital Mgmt LP increased its stake in Bloom Energy by 50.0% during 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 during the last quarter. DigitalBridge Group Inc. lifted its stake in shares of Bloom Energy by 66.3% in the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after purchasing an additional 462,581 shares during the last quarter. Artemis Investment Management LLP lifted its stake in shares of Bloom Energy by 20.5% in the 3rd quarter. Artemis Investment Management LLP now owns 738,673 shares of the company’s stock valued at $7,800,000 after purchasing an additional 125,757 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Bloom Energy by 13.1% during the 3rd quarter. Van ECK Associates Corp now owns 661,932 shares of the company’s stock worth $6,990,000 after purchasing an additional 76,536 shares during the period. Institutional investors and hedge funds 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.