Mirae Asset Global Investments Co. Ltd. Raises Stock Holdings in Bloom Energy Co. (NYSE:BE)

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Bloom Energy Co. (NYSE:BE - Free Report) by 184.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 404,204 shares of the company's stock after buying an additional 262,247 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.18% of Bloom Energy worth $9,209,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in BE. Avior Wealth Management LLC purchased a new position in Bloom Energy during the 4th quarter valued at about $40,000. Millburn Ridgefield Corp boosted its stake in shares of Bloom Energy by 29.2% in the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company's stock valued at $25,000 after purchasing an additional 528 shares during the period. GAMMA Investing LLC grew its holdings in shares of 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 purchasing an additional 569 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Bloom Energy during the 3rd quarter worth approximately $34,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in Bloom Energy during the 3rd quarter worth approximately $74,000. Institutional investors and hedge funds own 77.04% of the company's stock.

Insider Activity at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction 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 transaction, the insider now directly owns 168,561 shares in the company, valued at $4,139,858.16. This trade represents a 0.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kr Sridhar sold 46,697 shares of the firm's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the completion of the sale, the chief executive officer now owns 1,822,496 shares of the company's stock, valued at $45,562,400. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 122,528 shares of company stock worth $3,061,501 in the last 90 days. 8.81% of the stock is owned by insiders.

Bloom Energy Stock Performance

Shares of BE stock traded up $0.59 during trading hours on Monday, hitting $25.37. The stock had a trading volume of 1,824,769 shares, compared to its average volume of 6,848,907. 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 firm has a market capitalization of $5.80 billion, a PE ratio of -45.30 and a beta of 3.06. The stock's 50 day moving average is $24.33 and its 200 day moving average is $16.83. Bloom Energy Co. has a twelve month low of $8.41 and a twelve month high of $29.83.

Wall Street Analysts Forecast Growth

Several research firms have commented on BE. Bank of America dropped their price target on shares of Bloom Energy from $20.00 to $18.00 and set an "underperform" rating for the company in a research note on Tuesday, January 28th. Roth Capital upgraded Bloom Energy to a "hold" rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. lifted their price objective on Bloom Energy from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Roth Mkm began coverage on shares of Bloom Energy in a research note on Wednesday, December 11th. They set a "neutral" rating and a $25.00 target price on the stock. Finally, Morgan Stanley lifted their price target on shares of Bloom Energy from $20.00 to $28.00 and gave the stock an "overweight" rating in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Bloom Energy has an average rating of "Hold" and an average target price of $23.72.

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.