UBS Group Issues Positive Forecast for Bloom Energy (NYSE:BE) Stock Price

Bloom Energy (NYSE:BE) had its target price boosted by UBS Group from $21.00 to $33.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

BE has been the subject of several other reports. 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 report on Friday, November 15th. Hsbc Global Res upgraded Bloom Energy to a “hold” rating in a research report on Wednesday, November 20th. BTIG Research boosted their target price on Bloom Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Morgan Stanley raised their price target on Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Finally, HSBC lowered Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price objective for the company. in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $19.14.

Bloom Energy Stock Performance

Shares of BE opened at $27.49 on Tuesday. Bloom Energy has a 52-week low of $8.41 and a 52-week high of $28.70. The stock’s 50-day simple moving average is $13.88 and its 200 day simple moving average is $13.23. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of -49.09 and a beta of 2.71.

Insider Activity

In related news, CEO Kr Sridhar sold 72,903 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the completion of the sale, the chief executive officer now directly owns 1,869,593 shares in the company, valued at $46,777,216.86. This represents a 3.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Shawn Marie Soderberg sold 1,289 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $24.56, for a total transaction of $31,657.84. Following the completion of the sale, the insider now directly owns 168,561 shares in the company, valued at approximately $4,139,858.16. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 122,975 shares of company stock valued at $3,045,019. 8.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. raised its holdings in shares of Bloom Energy by 62.4% during the third quarter. Franklin Resources Inc. now owns 125,598 shares of the company’s stock valued at $1,314,000 after acquiring an additional 48,258 shares in the last quarter. Peapack Gladstone Financial Corp increased its position in Bloom Energy by 4.4% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 271,924 shares of the company’s stock valued at $2,871,000 after purchasing an additional 11,525 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Bloom Energy in the 3rd quarter worth $34,000. Duff & Phelps Investment Management Co. purchased a new stake in shares of Bloom Energy in the 3rd quarter worth about $517,000. Finally, Pier Capital LLC boosted its stake in shares of Bloom Energy by 0.9% during the 3rd quarter. Pier Capital LLC now owns 461,744 shares of the company’s stock valued at $4,876,000 after purchasing an additional 4,082 shares in the last quarter. Institutional investors own 77.04% of the company’s stock.

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.