Edgestream Partners L.P. acquired a new stake in Bloom Energy Co. (NYSE:BE - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 310,047 shares of the company's stock, valued at approximately $3,274,000. Edgestream Partners L.P. owned about 0.14% of Bloom Energy at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of BE. Electron Capital Partners LLC boosted its stake in Bloom Energy by 131.5% in the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company's stock valued at $38,592,000 after purchasing an additional 1,790,733 shares during the period. JAT Capital Mgmt LP lifted its holdings in shares of Bloom Energy by 50.0% during the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company's stock worth $23,221,000 after buying an additional 733,363 shares in the last quarter. DigitalBridge Group Inc. boosted its position in shares of Bloom Energy by 66.3% in the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company's stock valued at $14,203,000 after acquiring an additional 462,581 shares during the period. Pinnacle Associates Ltd. grew its stake in shares of Bloom Energy by 48.6% in the second quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company's stock valued at $10,644,000 after acquiring an additional 284,298 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in Bloom Energy by 64.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 830,405 shares of the company's stock worth $11,017,000 after acquiring an additional 325,814 shares during the period. 77.04% of the stock is owned by institutional investors.
Bloom Energy Price Performance
BE traded down $0.53 on Monday, reaching $26.92. The stock had a trading volume of 6,809,108 shares, compared to its average volume of 6,546,508. The firm has a 50-day moving average of $14.20 and a 200-day moving average of $13.35. Bloom Energy Co. has a fifty-two week low of $8.41 and a fifty-two week high of $28.70. The company has a market capitalization of $6.15 billion, a price-to-earnings ratio of -48.07 and a beta of 2.71. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09.
Insider Activity
In related news, CEO Kr Sridhar sold 46,697 shares of Bloom Energy stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $25.00, for a total value of $1,167,425.00. Following the transaction, the chief executive officer now directly owns 1,822,496 shares of the company's stock, valued at $45,562,400. The trade was a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shawn Marie Soderberg sold 1,289 shares of the company's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the completion of the sale, the insider now owns 168,561 shares in the company, valued at $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 122,975 shares of company stock valued at $3,045,019 over the last quarter. 8.81% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of research analysts have issued reports on the stock. Susquehanna increased their target price on shares of Bloom Energy from $13.00 to $16.00 and gave the stock a "positive" rating in a research report on Tuesday, November 12th. Piper Sandler raised their price objective on Bloom Energy from $20.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, November 22nd. BTIG Research upped their target price on Bloom Energy from $16.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Morgan Stanley increased their target price on Bloom Energy from $20.00 to $28.00 and gave the stock an "overweight" rating in a report on Monday, November 18th. Finally, Hsbc Global Res raised shares of Bloom Energy to a "hold" rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $19.14.
Check Out Our Latest Report on Bloom Energy
About Bloom Energy
(
Free Report)
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.
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