Legal & General Group Plc boosted its position in shares of Bloom Energy Co. (NYSE:BE - Free Report) by 7.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,133,318 shares of the company's stock after buying an additional 144,616 shares during the period. Legal & General Group Plc owned 0.93% of Bloom Energy worth $47,381,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BE. Norges Bank purchased a new stake in Bloom Energy during the 4th quarter valued at approximately $93,951,000. Elemental Capital Partners LLC acquired a new stake in shares of Bloom Energy during the fourth quarter worth $33,612,000. Trivest Advisors Ltd purchased a new position in Bloom Energy in the 4th quarter valued at $30,539,000. Wellington Management Group LLP increased its stake in Bloom Energy by 306.3% in the 4th quarter. Wellington Management Group LLP now owns 1,383,897 shares of the company's stock valued at $30,736,000 after buying an additional 1,043,326 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Bloom Energy in the 4th quarter worth $19,629,000. Hedge funds and other institutional investors own 77.04% of the company's stock.
Bloom Energy Trading Up 1.6 %
BE stock traded up $0.29 during midday trading on Tuesday, hitting $18.19. The stock had a trading volume of 3,183,672 shares, compared to its average volume of 6,824,670. The company's 50-day moving average price is $22.43 and its 200 day moving average price is $20.49. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The firm has a market cap of $4.19 billion, a PE ratio of -32.48 and a beta of 3.27. Bloom Energy Co. has a 12-month low of $9.02 and a 12-month high of $29.83.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. Royal Bank of Canada reissued an "outperform" rating on shares of Bloom Energy in a report on Tuesday, April 1st. Bank of America dropped their target price on shares of Bloom Energy from $20.00 to $18.00 and set an "underperform" rating for the company in a report on Tuesday, January 28th. Mizuho started coverage on shares of Bloom Energy in a research report on Tuesday, March 18th. They set a "neutral" rating and a $28.00 price target for the company. Piper Sandler dropped their price objective on Bloom Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Finally, TD Cowen lifted their price objective on Bloom Energy from $13.00 to $20.00 and gave the stock a "hold" rating in a report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Bloom Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.66.
Read Our Latest Research Report on Bloom Energy
Insider Activity
In other Bloom Energy news, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction dated 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 sale, the insider now owns 178,656 shares in the company, valued at $4,482,479.04. The trade was a 0.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Shawn Marie Soderberg sold 1,639 shares of the company's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction of $38,385.38. Following the transaction, the insider now directly owns 171,040 shares of the company's stock, valued at approximately $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.
About Bloom Energy
(
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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