Bloom Energy Co. (NYSE:BE) Position Reduced by L & S Advisors Inc

L & S Advisors Inc lessened its stake in Bloom Energy Co. (NYSE:BE - Free Report) by 33.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 111,085 shares of the company's stock after selling 55,150 shares during the period. L & S Advisors Inc's holdings in Bloom Energy were worth $2,467,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. DnB Asset Management AS bought a new stake in Bloom Energy in the fourth quarter valued at about $3,779,000. Pictet Asset Management Holding SA increased its holdings in shares of Bloom Energy by 21.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 106,019 shares of the company's stock valued at $2,355,000 after acquiring an additional 18,603 shares during the last quarter. Norges Bank acquired a new stake in shares of Bloom Energy during the 4th quarter valued at approximately $93,951,000. Blair William & Co. IL bought a new position in Bloom Energy during the fourth quarter worth $291,000. Finally, Napean Trading & Investment Co Singapore PTE Ltd boosted its holdings in Bloom Energy by 11.5% in the fourth quarter. Napean Trading & Investment Co Singapore PTE Ltd now owns 402,688 shares of the company's stock worth $8,944,000 after purchasing an additional 41,631 shares during the period. 77.04% of the stock is owned by institutional investors and hedge funds.

Bloom Energy Price Performance

Shares of Bloom Energy stock traded up $1.61 on Tuesday, hitting $21.27. The company had a trading volume of 6,291,382 shares, compared to its average volume of 6,596,294. Bloom Energy Co. has a 52 week low of $9.02 and a 52 week high of $29.83. The company has a market cap of $4.90 billion, a PE ratio of -37.98 and a beta of 3.30. The business has a 50-day simple moving average of $23.92 and a 200-day simple moving average of $19.90. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.

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Wall Street Analyst Weigh In

A number of analysts have weighed in on BE shares. Morgan Stanley increased their target price on shares of Bloom Energy from $28.00 to $35.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Roth Capital upgraded shares of Bloom Energy to a "hold" rating in a research note on Tuesday, December 10th. Susquehanna lifted their target price on Bloom Energy from $20.00 to $33.00 and gave the company a "positive" rating in a research note on Friday, December 6th. BMO Capital Markets reiterated a "market perform" rating on shares of Bloom Energy in a research report on Friday, February 28th. Finally, BTIG Research boosted their price objective on Bloom Energy from $20.00 to $30.00 and gave the company a "buy" rating in a research report on Monday, December 16th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $25.06.

Insider Transactions at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the transaction, the insider now owns 171,040 shares of the company's stock, valued at $4,005,756.80. The trade was a 0.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Satish Chitoori sold 1,020 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the sale, the insider now directly owns 178,656 shares of the company's stock, valued at approximately $4,482,479.04. This represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.81% of the company's stock.

About Bloom Energy

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.