Geode Capital Management LLC Cuts Position in Bloom Energy Co. (NYSE:BE)

Geode Capital Management LLC lowered its stake in shares of Bloom Energy Co. (NYSE:BE - Free Report) by 1.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,540,118 shares of the company's stock after selling 62,316 shares during the period. Geode Capital Management LLC owned about 1.99% of Bloom Energy worth $100,859,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings 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 buying an additional 569 shares in the last quarter. Arizona State Retirement System grew its position in shares of Bloom Energy by 1.3% during the 4th quarter. Arizona State Retirement System now owns 59,592 shares of the company's stock valued at $1,324,000 after acquiring an additional 759 shares during the period. Jones Financial Companies Lllp increased its stake 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 valued at $33,000 after purchasing an additional 812 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in 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 during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Bloom Energy by 2.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 47,400 shares of the company's stock worth $1,053,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 77.04% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BE. Morgan Stanley lifted their price target on shares of Bloom Energy from $28.00 to $35.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Hsbc Global Res raised shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. TD Cowen increased their target price on Bloom Energy from $13.00 to $20.00 and gave the company a "hold" rating in a report on Friday, February 28th. BMO Capital Markets reiterated a "market perform" rating on shares of Bloom Energy in a research report on Friday, February 28th. Finally, Redburn Atlantic lowered Bloom Energy from a "neutral" rating to a "sell" rating and decreased their price objective for the company from $14.50 to $10.00 in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $24.29.

Bloom Energy Trading Up 4.6 %

Shares of BE traded up $0.78 during trading on Friday, reaching $17.63. 6,729,752 shares of the company traded hands, compared to its average volume of 6,891,278. The stock has a 50-day simple moving average of $22.56 and a 200-day simple moving average of $20.44. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. Bloom Energy Co. has a twelve month low of $9.02 and a twelve month high of $29.83. The stock has a market cap of $4.06 billion, a PE ratio of -31.48 and a beta of 3.27.

Insider Activity at Bloom Energy

In related 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 completion of the transaction, the insider now owns 171,040 shares in the company, valued at approximately $4,005,756.80. The trade was a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Satish Chitoori sold 1,020 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the sale, the insider now owns 178,656 shares in the company, valued at approximately $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. 8.81% of the stock is owned by insiders.

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.