Bloom Energy (NYSE:BE) Price Target Raised to $19.50 at BMO Capital Markets

Bloom Energy (NYSE:BE) had its price objective raised by BMO Capital Markets from $12.00 to $19.50 in a research note published on Friday,Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

A number of other analysts have also recently commented on the company. Marathon Capitl raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Jefferies Financial Group lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $15.00 to $11.00 in a report on Friday, September 6th. UBS Group decreased 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. Truist Financial decreased their price objective on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a report on Wednesday, October 16th. Finally, Piper Sandler upgraded shares of Bloom Energy from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $10.00 to $20.00 in a report on Friday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.05.

Bloom Energy Stock Up 59.2 %

Shares of BE traded up $7.86 during mid-day trading on Friday, reaching $21.14. The company had a trading volume of 63,748,498 shares, compared to its average volume of 6,255,194. The company has a debt-to-equity ratio of 3.09, a quick ratio of 3.33 and a current ratio of 3.36. The firm has a 50-day moving average price of $10.82 and a 200 day moving average price of $12.27. Bloom Energy has a 52 week low of $8.41 and a 52 week high of $22.50. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of -37.76 and a beta of 2.71.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Bloom Energy by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock valued at $221,262,000 after buying an additional 156,434 shares in the last quarter. 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 in the last quarter. JAT Capital Mgmt LP raised its position in shares of Bloom Energy by 50.0% during the 3rd quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock valued at $23,221,000 after buying an additional 733,363 shares in the last quarter. DigitalBridge Group Inc. raised its position in shares of Bloom Energy by 66.3% during the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after buying an additional 462,581 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its position in Bloom Energy by 48.6% in the 2nd quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company’s stock worth $10,644,000 after purchasing an additional 284,298 shares during the period. Institutional investors 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.