Credit Capital Investments LLC Takes $300,000 Position in Bloom Energy Co. (NYSE:BE)

Credit Capital Investments LLC purchased a new stake in shares of Bloom Energy Co. (NYSE:BE - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 13,500 shares of the company's stock, valued at approximately $300,000. Bloom Energy makes up about 0.4% of Credit Capital Investments LLC's investment portfolio, making the stock its 26th biggest position.

A number of other hedge funds have also recently made changes to their positions in the company. Millburn Ridgefield Corp lifted 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 worth $25,000 after acquiring an additional 528 shares during the period. Mainstream Capital Management LLC acquired a new position in shares of Bloom Energy in the fourth quarter worth approximately $28,000. Smartleaf Asset Management LLC lifted its stake in shares of Bloom Energy by 291.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock worth $28,000 after acquiring an additional 934 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Bloom Energy by 120.5% in the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock worth $33,000 after acquiring an additional 812 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Bloom Energy in the third quarter worth approximately $34,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Bloom Energy Stock Down 5.9 %

Bloom Energy stock traded down $1.51 during trading on Friday, hitting $23.90. 7,838,588 shares of the company were exchanged, compared to its average volume of 6,718,207. The business's 50 day moving average is $24.10 and its 200 day moving average is $19.42. Bloom Energy Co. has a 52 week low of $9.02 and a 52 week high of $29.83. The company has a market capitalization of $5.51 billion, a P/E ratio of -42.68 and a beta of 3.30. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09.

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Insider Buying and Selling

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. BMO Capital Markets reaffirmed a "market perform" rating on shares of Bloom Energy in a research note on Friday, February 28th. Mizuho initiated coverage on Bloom Energy in a report on Tuesday, March 18th. They issued a "neutral" rating and a $28.00 target price for the company. Morgan Stanley lifted their target price on Bloom Energy from $28.00 to $35.00 and gave the stock an "overweight" rating in a report on Thursday. Piper Sandler lowered their target price on Bloom Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Finally, Robert W. Baird lifted their target price on Bloom Energy from $15.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Bloom Energy currently has an average rating of "Hold" and an average price target of $25.06.

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.