Bloom Energy (NYSE:BE) Given New $20.00 Price Target at TD Cowen

Bloom Energy (NYSE:BE) had its price target lifted by TD Cowen from $13.00 to $20.00 in a research report issued on Friday,Briefing.com Automated Import reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price target would suggest a potential downside of 12.97% from the company’s current price.

Several other research analysts also recently commented on BE. Susquehanna raised their price target on shares of Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a report on Friday, December 6th. 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 note on Thursday, December 12th. BTIG Research upped their target price on Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. HSBC cut Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price target on the stock. in a report on Wednesday, November 20th. Finally, Royal Bank of Canada boosted their price objective on Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $24.47.

Bloom Energy Trading Down 1.8 %

Shares of Bloom Energy stock opened at $22.98 on Friday. The company’s 50-day moving average price is $24.10 and its 200-day moving average price is $17.91. The company has a market cap of $5.25 billion, a price-to-earnings ratio of -41.03 and a beta of 3.06. Bloom Energy has a 12-month low of $8.41 and a 12-month high of $29.83. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09.

Insider Activity

In other news, insider Shawn Marie Soderberg sold 1,639 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Mizuho Markets Americas LLC grew its holdings in Bloom Energy by 8.2% in the 3rd quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company’s stock worth $4,335,000 after acquiring an additional 31,189 shares during the last quarter. Duff & Phelps Investment Management Co. bought a new stake in shares of Bloom Energy in the third quarter worth about $517,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Bloom Energy by 184.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 404,204 shares of the company’s stock valued at $9,209,000 after purchasing an additional 262,247 shares during the period. Parametrica Management Ltd bought a new position in Bloom Energy during the 3rd quarter valued at approximately $785,000. Finally, Edgestream Partners L.P. purchased a new stake in Bloom Energy in the 3rd quarter worth approximately $3,274,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

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.