Geode Capital Management LLC Has $48.61 Million Position in Bloom Energy Co. (NYSE:BE)

Geode Capital Management LLC lowered its position in Bloom Energy Co. (NYSE:BE - Free Report) by 2.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,602,434 shares of the company's stock after selling 103,905 shares during the quarter. Geode Capital Management LLC owned 2.02% of Bloom Energy worth $48,611,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Electron Capital Partners LLC boosted its stake in Bloom Energy by 131.5% during the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company's stock valued at $38,592,000 after acquiring an additional 1,790,733 shares during the last quarter. JAT Capital Mgmt LP lifted its position in shares of Bloom Energy by 50.0% during the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company's stock worth $23,221,000 after purchasing an additional 733,363 shares during the last quarter. DigitalBridge Group Inc. grew its stake in Bloom Energy by 66.3% in the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company's stock worth $14,203,000 after purchasing an additional 462,581 shares in the last quarter. Pinnacle Associates Ltd. increased its holdings in Bloom Energy by 48.6% in the second quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company's stock valued at $10,644,000 after buying an additional 284,298 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in Bloom Energy by 64.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 830,405 shares of the company's stock valued at $11,017,000 after buying an additional 325,814 shares in the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BE has been the subject of several research reports. Bank of America lifted their target price on Bloom Energy from $7.00 to $20.00 and gave the stock an "underperform" rating in a research report on Monday, December 9th. Royal Bank of Canada boosted their price objective on shares of Bloom Energy from $15.00 to $28.00 and gave the company an "outperform" rating in a research report on Monday, November 18th. Jefferies Financial Group increased their target price on Bloom Energy from $12.00 to $22.00 and gave the stock a "hold" rating in a research report on Friday, November 22nd. Morgan Stanley increased their price objective on shares of Bloom Energy from $20.00 to $28.00 and gave the stock an "overweight" rating in a report on Monday, November 18th. Finally, Roth Capital raised shares of Bloom Energy to a "hold" rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $22.45.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 168,561 shares in the company, valued at $4,139,858.16. This represents a 0.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kr Sridhar sold 72,903 shares of the business's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the transaction, the chief executive officer now owns 1,869,593 shares in the company, valued at approximately $46,777,216.86. This represents a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 122,975 shares of company stock valued at $3,045,019 in the last three months. 3.50% of the stock is currently owned by company insiders.

Bloom Energy Trading Up 0.5 %

Shares of BE traded up $0.13 during midday trading on Tuesday, hitting $24.33. The stock had a trading volume of 1,697,156 shares, compared to its average volume of 6,558,603. 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 firm has a market cap of $5.56 billion, a P/E ratio of -43.45 and a beta of 3.02. Bloom Energy Co. has a fifty-two week low of $8.41 and a fifty-two week high of $28.70. The business has a 50-day simple moving average of $18.55 and a two-hundred day simple moving average of $14.35.

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.