Joule Financial LLC Invests $348,000 in Bloom Energy Co. (NYSE:BE)

Joule Financial LLC bought a new stake in Bloom Energy Co. (NYSE:BE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,651 shares of the company's stock, valued at approximately $348,000.

Other hedge funds also recently modified their holdings of the company. Millburn Ridgefield Corp boosted its position in Bloom Energy by 29.2% in the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company's stock worth $25,000 after purchasing an additional 528 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Bloom Energy during the third quarter worth about $34,000. GAMMA Investing LLC boosted its stake in Bloom Energy by 26.8% in the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company's stock valued at $60,000 after acquiring an additional 569 shares during the last quarter. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Bloom Energy during the 3rd quarter worth approximately $74,000. Finally, Gilliland Jeter Wealth Management LLC lifted its stake in Bloom Energy by 97.7% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 8,500 shares of the company's stock valued at $90,000 after purchasing an additional 4,200 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company's stock.

Insider Buying and Selling

In other news, CEO Kr Sridhar sold 72,903 shares of the firm's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total value of $1,824,033.06. Following the transaction, the chief executive officer now owns 1,869,593 shares of the company's stock, valued at approximately $46,777,216.86. This trade represents a 3.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shawn Marie Soderberg sold 1,639 shares of the company's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the transaction, the insider now directly owns 171,040 shares of the company's stock, valued at approximately $4,005,756.80. The trade was a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 122,528 shares of company stock worth $3,061,501. Company insiders own 3.50% of the company's stock.

Bloom Energy Stock Performance

BE stock traded up $0.42 during midday trading on Friday, hitting $23.98. 5,489,392 shares of the stock traded hands, compared to its average volume of 4,411,413. 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's fifty day simple moving average is $23.62 and its 200-day simple moving average is $15.71. The firm has a market cap of $5.48 billion, a P/E ratio of -42.82 and a beta of 3.06. Bloom Energy Co. has a 1-year low of $8.41 and a 1-year high of $28.70.

Wall Street Analyst Weigh In

BE has been the subject of a number of analyst reports. Roth Mkm began coverage on Bloom Energy in a report on Wednesday, December 11th. They issued a "neutral" rating and a $25.00 price target for the company. UBS Group lifted their target price on Bloom Energy from $21.00 to $33.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Jefferies Financial Group increased their price target on shares of Bloom Energy from $12.00 to $22.00 and gave the stock a "hold" rating in a report on Friday, November 22nd. BTIG Research boosted their price objective on shares of Bloom Energy from $20.00 to $30.00 and gave the company a "buy" rating in a research note on Monday, December 16th. Finally, Bank of America upped their target price on shares of Bloom Energy from $7.00 to $20.00 and gave the stock an "underperform" rating in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $22.97.

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.