Morgan Stanley Forecasts Strong Price Appreciation for Bloom Energy (NYSE:BE) Stock

Bloom Energy (NYSE:BE) had its price target increased by Morgan Stanley from $20.00 to $28.00 in a report issued on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts have also recently issued research reports about the company. BTIG Research increased their price objective on Bloom Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Robert W. Baird lowered their price target on shares of Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Bank of America reduced their price objective on shares of Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a research note on Thursday, November 7th. Susquehanna raised their price target on shares of Bloom Energy from $13.00 to $16.00 and gave the company a “positive” rating in a report on Tuesday, November 12th. Finally, Marathon Capitl upgraded shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Bloom Energy presently has a consensus rating of “Moderate Buy” and an average price target of $17.55.

Bloom Energy Trading Down 3.5 %

Shares of BE stock opened at $23.94 on Monday. Bloom Energy has a 1 year low of $8.41 and a 1 year high of $25.12. The company’s fifty day simple moving average is $11.64 and its two-hundred day simple moving average is $12.53. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of -44.27 and a beta of 2.71.

Insiders Place Their Bets

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $24.56, for a total value of $31,657.84. Following the transaction, the insider now directly owns 168,561 shares of the company’s stock, valued at $4,139,858.16. The trade was a 0.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BE. Millburn Ridgefield Corp raised its holdings in shares of Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after acquiring an additional 528 shares in the last quarter. ORG Partners LLC bought a new stake in shares of Bloom Energy during the 2nd quarter valued at $40,000. Quest Partners LLC grew its position in shares of 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 during the period. Gilliland Jeter Wealth Management LLC bought a new position in shares of Bloom Energy in the 2nd quarter worth about $53,000. Finally, Mather Group LLC. purchased a new position in Bloom Energy during the 2nd quarter valued at about $66,000. 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.