BTIG Research Raises Bloom Energy (NYSE:BE) Price Target to $20.00

Bloom Energy (NYSE:BE) had its target price raised by equities research analysts at BTIG Research from $16.00 to $20.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target points to a potential downside of 5.39% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. UBS Group reduced their price objective on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Jefferies Financial Group lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and reduced their price target for the stock from $15.00 to $11.00 in a research note on Friday, September 6th. Robert W. Baird lowered their price objective on shares of Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Marathon Capitl upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, Piper Sandler raised Bloom Energy from a “neutral” rating to an “overweight” rating and increased their price target for the company from $10.00 to $20.00 in a research note on Friday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.05.

Bloom Energy Stock Up 59.2 %

Shares of Bloom Energy stock opened at $21.14 on Friday. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 3.33. Bloom Energy has a 1-year low of $8.41 and a 1-year high of $22.50. The business’s fifty day moving average price is $10.82 and its two-hundred day moving average price is $12.28. The company has a market capitalization of $4.81 billion, a P/E ratio of -37.75 and a beta of 2.71.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors have recently bought and sold shares of the business. Millburn Ridgefield Corp increased its holdings in shares of Bloom Energy by 29.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after purchasing an additional 528 shares during the period. ORG Partners LLC acquired a new position in Bloom Energy in the 2nd quarter valued at approximately $40,000. Quest Partners LLC lifted its position in Bloom Energy by 2,780.0% in the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after buying an additional 3,475 shares in the last quarter. Gilliland Jeter Wealth Management LLC purchased a new position in shares of Bloom Energy during the 2nd quarter valued at $53,000. Finally, Mather Group LLC. acquired a new position in shares of Bloom Energy in the second quarter worth $66,000. 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.