Wellington Management Group LLP Acquires 1,043,326 Shares of Bloom Energy Co. (NYSE:BE)

Wellington Management Group LLP increased its position in shares of Bloom Energy Co. (NYSE:BE - Free Report) by 306.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,383,897 shares of the company's stock after acquiring an additional 1,043,326 shares during the quarter. Wellington Management Group LLP owned about 0.61% of Bloom Energy worth $30,736,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Mainstream Capital Management LLC bought a new stake in Bloom Energy during the fourth quarter worth about $28,000. Smartleaf Asset Management LLC lifted its holdings in shares of 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. Jones Financial Companies Lllp lifted its holdings in shares of 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. Wilmington Savings Fund Society FSB bought a new position in Bloom Energy during the 3rd quarter valued at $34,000. Finally, Avior Wealth Management LLC purchased a new stake in shares of Bloom Energy during the 4th quarter valued at $40,000. Institutional investors own 77.04% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BE. Redburn Atlantic lowered Bloom Energy from a "neutral" rating to a "sell" rating and decreased their price objective for the stock from $14.50 to $10.00 in a report on Wednesday. JPMorgan Chase & Co. lifted their target price on Bloom Energy from $14.00 to $16.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. BTIG Research lifted their target price on Bloom Energy from $20.00 to $30.00 and gave the company a "buy" rating in a report on Monday, December 16th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Bloom Energy in a report on Friday, February 28th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating on shares of Bloom Energy in a report on Tuesday, April 1st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $24.29.

Remove Ads

Insider Activity

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the sale, the insider now directly owns 171,040 shares of the company's stock, valued at $4,005,756.80. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Satish Chitoori sold 1,020 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the sale, the insider now directly owns 178,656 shares in the company, valued at $4,482,479.04. This trade represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.50% of the company's stock.

Bloom Energy Stock Down 2.1 %

Shares of NYSE:BE traded down $0.37 on Thursday, hitting $17.50. 1,644,577 shares of the company traded hands, compared to its average volume of 6,787,728. Bloom Energy Co. has a 52 week low of $9.02 and a 52 week high of $29.83. 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 stock has a 50 day simple moving average of $22.80 and a 200-day simple moving average of $20.27. The company has a market cap of $4.03 billion, a PE ratio of -31.25 and a beta of 3.27.

Bloom Energy 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.