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

Bloom Energy (NYSE:BE) had its target price hoisted by Jefferies Financial Group from $12.00 to $22.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Jefferies Financial Group’s price target points to a potential downside of 14.60% from the company’s previous close.

BE has been the subject of several other research reports. Morgan Stanley increased their price target on shares of Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday. Truist Financial lowered their price objective on Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, October 16th. Royal Bank of Canada lifted their target price on Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a research report on Monday. Bank of America lowered their price target on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a report on Thursday, November 7th. Finally, BMO Capital Markets boosted their price objective 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. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Bloom Energy presently has an average rating of “Hold” and an average target price of $18.66.

Bloom Energy Price Performance

BE traded up $1.82 during trading on Friday, reaching $25.76. The company’s stock had a trading volume of 10,521,421 shares, compared to its average volume of 6,503,232. The company has a market cap of $5.89 billion, a price-to-earnings ratio of -46.00 and a beta of 2.71. The firm has a fifty day simple moving average of $11.91 and a two-hundred day simple moving average of $12.61. Bloom Energy has a 1 year low of $8.41 and a 1 year high of $26.26. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09.

Insider Activity at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $24.56, for a total transaction of $31,657.84. Following the sale, the insider now owns 168,561 shares in the company, valued at approximately $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Bloom Energy

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