Bloom Energy (NYSE:BE) Price Target Cut to $19.00 by Analysts at Jefferies Financial Group

Bloom Energy (NYSE:BE) had its price target reduced by analysts at Jefferies Financial Group from $25.00 to $19.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Jefferies Financial Group’s price objective suggests a potential upside of 11.57% from the company’s current price.

BE has been the subject of several other research reports. Truist Financial raised their price objective on shares of Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Bloom Energy in a research report on Friday, February 28th. Redburn Atlantic lowered shares of Bloom Energy from a “neutral” rating to a “sell” rating and lowered their target price for the company from $14.50 to $10.00 in a research note on Wednesday, April 9th. TD Cowen lifted their price objective on shares of Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a report on Friday, February 28th. Finally, Susquehanna reduced their target price on shares of Bloom Energy from $33.00 to $26.00 and set a “positive” rating on the stock in a research report on Monday. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.13.

Bloom Energy Stock Down 4.5 %

NYSE BE opened at $17.03 on Wednesday. Bloom Energy has a 52 week low of $9.02 and a 52 week high of $29.83. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of -30.41 and a beta of 3.27. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The company has a fifty day moving average of $22.00 and a two-hundred day moving average of $20.50.

Insiders Place Their Bets

In other news, insider Satish Chitoori sold 1,020 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the completion of the sale, the insider now owns 178,656 shares in the company, valued at approximately $4,482,479.04. This represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BE. GAMMA Investing LLC boosted its holdings in Bloom Energy by 26.8% in the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after acquiring an additional 569 shares in the last quarter. Arizona State Retirement System raised its position in shares of Bloom Energy by 1.3% in the 4th quarter. Arizona State Retirement System now owns 59,592 shares of the company’s stock valued at $1,324,000 after purchasing an additional 759 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Bloom Energy by 120.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after purchasing an additional 812 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Bloom Energy by 291.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after purchasing an additional 934 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Bloom Energy by 2.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 47,400 shares of the company’s stock worth $1,053,000 after purchasing an additional 1,000 shares during the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

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.