Intech Investment Management LLC grew its holdings in Bloom Energy Co. (NYSE:BE - Free Report) by 25.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 71,125 shares of the company's stock after acquiring an additional 14,291 shares during the quarter. Intech Investment Management LLC's holdings in Bloom Energy were worth $1,580,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the business. Smartleaf Asset Management LLC raised its position in shares of Bloom Energy by 291.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock valued at $28,000 after purchasing an additional 934 shares during the last quarter. Mainstream Capital Management LLC purchased a new position in shares of Bloom Energy in the fourth quarter worth $28,000. Jones Financial Companies Lllp lifted its stake 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 during the period. Avior Wealth Management LLC purchased a new stake in shares of Bloom Energy during the fourth quarter valued at $40,000. Finally, Millburn Ridgefield Corp increased its position in shares of Bloom Energy by 29.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company's stock valued at $25,000 after acquiring an additional 528 shares during the period. Institutional investors and hedge funds own 77.04% of the company's stock.
Insider Buying and Selling at Bloom Energy
In related news, insider Satish Chitoori sold 1,020 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the completion of the transaction, the insider now owns 178,656 shares in the company, valued at $4,482,479.04. This represents a 0.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $23.42, for a total value of $38,385.38. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders own 8.81% of the company's stock.
Bloom Energy Price Performance
Shares of NYSE:BE traded down $0.91 during midday trading on Wednesday, reaching $22.20. 4,815,098 shares of the company's stock traded hands, compared to its average volume of 6,614,320. The company has a fifty day simple moving average of $24.12 and a two-hundred day simple moving average of $19.60. Bloom Energy Co. has a 1 year low of $9.02 and a 1 year high of $29.83. The company has a market cap of $5.11 billion, a P/E ratio of -39.64 and a beta of 3.30. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on BE shares. Roth Capital upgraded Bloom Energy to a "hold" rating in a research note on Tuesday, December 10th. BMO Capital Markets reiterated a "market perform" rating on shares of Bloom Energy in a research report on Friday, February 28th. TD Cowen raised their price target on shares of Bloom Energy from $13.00 to $20.00 and gave the stock a "hold" rating in a research report on Friday, February 28th. Morgan Stanley upped their price objective on shares of Bloom Energy from $28.00 to $35.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Finally, BTIG Research raised their target price on shares of Bloom Energy from $20.00 to $30.00 and gave the stock a "buy" rating in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $25.06.
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Bloom Energy Company 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.
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