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Morgan Stanley’s Take on This Canadian Energy Company

Morgan Stanley analyst Stephen Byrd maintained a Hold rating on Bloom Energy (BEResearch Report) today and set a price target of $21.00. The company’s shares closed last Friday at $17.05.

According to TipRanks.com, Byrd is a 5-star analyst with an average return of 10.4% and a 58.2% success rate. Byrd covers the Utilities sector, focusing on stocks such as Constellation Energy Corporation, American Electric Power, and Nextera Energy Partners.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Bloom Energy with a $24.00 average price target, a 37.9% upside from current levels. In a report issued on June 8, Piper Sandler also initiated coverage with a Hold rating on the stock with a $20.00 price target.

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Bloom Energy’s market cap is currently $3.04B and has a P/E ratio of -13.71.

Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BE in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Bloom Energy Corp. engages in the manufacture and installation of on-site distributed power generators. Its product, Bloom Energy Server, converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion. The company was founded by K. R. Sridhar, John Finn, Jim McElroy, Matthias Gottmann, and Dien Nguyen on January 18, 2001 and is headquartered in San Jose, CA.

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