Bloom Energy (NYSE:BE) had its target price hoisted by JPMorgan Chase & Co. from $12.00 to $16.00 in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. The firm currently has an overweight rating on the stock.
Other analysts also recently issued research reports about the company. KeyCorp downgraded Bloom Energy from an overweight rating to a sector weight rating in a research note on Thursday, February 13th. ValuEngine downgraded Bloom Energy from a buy rating to a hold rating in a research note on Thursday. Raymond James downgraded Bloom Energy from an outperform rating to a market perform rating in a research note on Thursday. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Bloom Energy from a buy rating to a hold rating in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Bloom Energy has an average rating of Hold and an average target price of $8.33.
Bloom Energy stock opened at $11.78 on Thursday. The company has a market capitalization of $1.39 billion, a P/E ratio of -4.67 and a beta of 4.10. The stock’s 50 day moving average is $9.46 and its 200 day moving average is $6.12. Bloom Energy has a twelve month low of $2.44 and a twelve month high of $16.63.
In related news, EVP Swaminathan Venkataraman sold 6,156 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $11.46, for a total value of $70,547.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Susan Seilheimer Brennan sold 2,745 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $11.45, for a total value of $31,430.25. The disclosure for this sale can be found here. Insiders have sold a total of 760,297 shares of company stock worth $5,189,218 over the last three months. Insiders own 36.45% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Mine & Arao Wealth Creation & Management LLC. bought a new stake in Bloom Energy during the fourth quarter valued at about $26,000. Great West Life Assurance Co. Can bought a new stake in Bloom Energy during the fourth quarter valued at about $27,000. IFP Advisors Inc raised its holdings in Bloom Energy by 36.6% during the fourth quarter. IFP Advisors Inc now owns 5,600 shares of the company’s stock valued at $36,000 after acquiring an additional 1,500 shares during the period. FLC Capital Advisors bought a new stake in Bloom Energy during the third quarter valued at about $40,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Bloom Energy during the third quarter valued at about $45,000. 38.44% of the stock is currently owned by institutional investors.
About Bloom Energy
Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems for on-site power generation. The company offers Bloom Energy Server, a stationary power generation platform that converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion.
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