Bloom Energy (NYSE:BE) Price Target Lowered to $31.00 at Piper Sandler

Bloom Energy (NYSE:BE) had its target price reduced by investment analysts at Piper Sandler from $33.00 to $31.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 34.90% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets raised 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. Roth Capital upgraded shares of Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. Robert W. Baird lifted their price objective on Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Bank of America dropped their price objective on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Finally, Truist Financial lifted their price objective on Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Bloom Energy presently has a consensus rating of “Hold” and an average target price of $24.06.

Bloom Energy Price Performance

Shares of Bloom Energy stock opened at $22.98 on Friday. The stock has a market capitalization of $5.25 billion, a P/E ratio of -41.03 and a beta of 3.06. The business’s 50 day simple moving average is $24.10 and its two-hundred day simple moving average is $17.91. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. Bloom Energy has a one year low of $8.41 and a one year high of $29.83.

Insiders Place Their Bets

In related news, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the transaction, the insider now owns 171,040 shares in the company, valued at $4,005,756.80. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Millburn Ridgefield Corp raised its position in shares of Bloom Energy by 29.2% in the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after buying an additional 528 shares in the last quarter. GAMMA Investing LLC grew its stake in Bloom Energy by 26.8% during the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after buying an additional 569 shares in the last quarter. Arizona State Retirement System raised its position in shares of Bloom Energy by 1.3% in the 4th quarter. Arizona State Retirement System now owns 59,592 shares of the company’s stock valued at $1,324,000 after buying an additional 759 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings 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 acquiring an additional 812 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in Bloom Energy by 291.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after acquiring an additional 934 shares during the last quarter. 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.