Bloom Energy (NYSE:BE) Sets New 1-Year High After Analyst Upgrade

Shares of Bloom Energy Co. (NYSE:BE) reached a new 52-week high on Friday after BMO Capital Markets raised their price target on the stock from $12.00 to $19.50. BMO Capital Markets currently has a market perform rating on the stock. Bloom Energy traded as high as $22.50 and last traded at $18.71, with a volume of 11573566 shares traded. The stock had previously closed at $13.28.

A number of other research firms also recently commented on BE. Piper Sandler upgraded Bloom Energy from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $10.00 to $20.00 in a research note on Friday. Bank of America reduced their target price on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a report on Thursday, November 7th. Robert W. Baird lowered their price target on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Marathon Capitl upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, Jefferies Financial Group lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and lowered their target price for the company from $15.00 to $11.00 in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $16.11.

Hedge Funds Weigh In On Bloom Energy

Several large investors have recently bought and sold shares of BE. Vanguard Group Inc. raised its holdings in shares of Bloom Energy by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock worth $221,262,000 after purchasing an additional 156,434 shares in the last quarter. Electron Capital Partners LLC grew its holdings in shares of Bloom Energy by 131.5% in the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after acquiring an additional 1,790,733 shares during the last quarter. JAT Capital Mgmt LP lifted its holdings in shares of Bloom Energy by 50.0% during the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock valued at $23,221,000 after purchasing an additional 733,363 shares during the last quarter. DigitalBridge Group Inc. increased its stake in Bloom Energy by 66.3% in the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock worth $14,203,000 after purchasing an additional 462,581 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its holdings in Bloom Energy by 48.6% during the 2nd quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company’s stock worth $10,644,000 after buying an additional 284,298 shares during the period. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Stock Performance

The firm’s fifty day simple moving average is $10.55 and its 200 day simple moving average is $12.19. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 3.33. The company has a market capitalization of $4.25 billion, a price-to-earnings ratio of -32.20 and a beta of 2.71.

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.