Bloom Energy (NYSE:BE) Given New $20.00 Price Target at Roth Mkm

Bloom Energy (NYSE:BE) had its price objective lowered by investment analysts at Roth Mkm from $26.00 to $20.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Roth Mkm’s price objective suggests a potential upside of 13.25% from the company’s previous close.

Several other research firms have also weighed in on BE. BMO Capital Markets restated a “market perform” rating on shares of Bloom Energy in a report on Friday, February 28th. TD Cowen raised their target price on shares of Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, February 28th. Hsbc Global Res raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Piper Sandler lowered their price target on Bloom Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Finally, Jefferies Financial Group decreased their target price on Bloom Energy from $25.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.24.

Bloom Energy Stock Down 3.5 %

Shares of BE stock traded down $0.65 on Wednesday, hitting $17.66. The company’s stock had a trading volume of 2,078,507 shares, compared to its average volume of 6,775,673. 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 has a market capitalization of $4.07 billion, a price-to-earnings ratio of -31.54 and a beta of 3.27. Bloom Energy has a fifty-two week low of $9.02 and a fifty-two week high of $29.83. The firm’s fifty day moving average price is $22.30 and its 200-day moving average price is $20.47.

Insider Buying and Selling at Bloom Energy

In other news, insider Satish Chitoori sold 1,020 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the transaction, the insider now owns 178,656 shares of the company’s stock, valued at $4,482,479.04. The trade was a 0.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction dated Thursday, January 16th. The stock was 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 approximately $4,005,756.80. This represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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 added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Bloom Energy by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company’s stock valued at $427,194,000 after purchasing an additional 356,317 shares during the last quarter. Norges Bank bought a new position in shares of Bloom Energy in the fourth quarter valued at $93,951,000. Fuller & Thaler Asset Management Inc. bought a new stake in Bloom Energy during the fourth quarter worth $61,968,000. Legal & General Group Plc lifted its stake in Bloom Energy by 7.3% in the fourth quarter. Legal & General Group Plc now owns 2,133,318 shares of the company’s stock valued at $47,381,000 after acquiring an additional 144,616 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Bloom Energy by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company’s stock valued at $36,737,000 after acquiring an additional 10,265 shares during the period. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.