Connor Clark & Lunn Investment Management Ltd. bought a new stake in Bloom Energy Co. (NYSE:BE - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 81,494 shares of the company's stock, valued at approximately $1,810,000.
Several other institutional investors also recently bought and sold shares of BE. Millburn Ridgefield Corp grew its position in shares of Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company's stock worth $25,000 after buying an additional 528 shares in the last quarter. Mainstream Capital Management LLC acquired a new position in shares of Bloom Energy during the fourth quarter worth about $28,000. Smartleaf Asset Management LLC grew its position in shares of Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock worth $28,000 after buying an additional 934 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock worth $33,000 after buying an additional 812 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Bloom Energy during the third quarter worth about $34,000. 77.04% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Bloom Energy
In related news, insider Satish Chitoori sold 1,020 shares of the company's stock in a transaction 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 transaction, the insider now owns 178,656 shares of the company's stock, valued at $4,482,479.04. This represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shawn Marie Soderberg sold 1,639 shares of the company's stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total value of $38,385.38. Following the transaction, the insider now directly owns 171,040 shares in the company, valued at $4,005,756.80. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.81% of the company's stock.
Analysts Set New Price Targets
BE has been the subject of a number of analyst reports. Roth Mkm initiated coverage on Bloom Energy in a research report on Wednesday, December 11th. They set a "neutral" rating and a $25.00 price objective for the company. Susquehanna boosted their price objective on Bloom Energy from $20.00 to $33.00 and gave the stock a "positive" rating in a research report on Friday, December 6th. Mizuho assumed coverage on Bloom Energy in a research report on Tuesday. They set a "neutral" rating and a $28.00 price objective for the company. Robert W. Baird boosted their target price on Bloom Energy from $15.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday, December 12th. Finally, Truist Financial boosted their target price on Bloom Energy from $11.00 to $22.00 and gave the stock a "hold" rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $25.06.
View Our Latest Analysis on BE
Bloom Energy Stock Performance
Shares of Bloom Energy stock traded down $1.51 during trading hours on Friday, hitting $23.90. 7,838,588 shares of the company were exchanged, compared to its average volume of 6,718,207. Bloom Energy Co. has a 1 year low of $9.02 and a 1 year high of $29.83. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The business has a 50-day moving average of $24.10 and a 200-day moving average of $19.30. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of -42.68 and a beta of 3.30.
Bloom Energy Profile
(
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.
Further Reading
Before you consider Bloom Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bloom Energy wasn't on the list.
While Bloom Energy currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
