Main Management ETF Advisors LLC Takes $615,000 Position in Bloom Energy Co. (NYSE:BE)

Main Management ETF Advisors LLC bought a new stake in shares of Bloom Energy Co. (NYSE:BE - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 58,200 shares of the company's stock, valued at approximately $615,000.

A number of other institutional investors and hedge funds have also modified their holdings of BE. Price T Rowe Associates Inc. MD increased its position in Bloom Energy by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 116,882 shares of the company's stock valued at $1,314,000 after purchasing an additional 6,902 shares during the period. Tidal Investments LLC purchased a new position in Bloom Energy during the 1st quarter valued at approximately $370,000. Comerica Bank increased its holdings in shares of Bloom Energy by 222.8% in the 1st quarter. Comerica Bank now owns 23,884 shares of the company's stock valued at $268,000 after acquiring an additional 16,484 shares during the period. Cetera Advisors LLC raised its holdings in Bloom Energy by 201.2% in the 1st quarter. Cetera Advisors LLC now owns 37,019 shares of the company's stock worth $416,000 after purchasing an additional 24,730 shares during the period. Finally, Artemis Investment Management LLP purchased a new position in shares of Bloom Energy during the second quarter worth $7,502,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Stock Performance

Shares of NYSE BE traded up $1.12 during midday trading on Friday, hitting $27.08. The company's stock had a trading volume of 6,876,995 shares, compared to its average volume of 13,492,131. Bloom Energy Co. has a 1-year low of $8.41 and a 1-year high of $28.70. The firm has a market cap of $6.19 billion, a P/E ratio of -48.36 and a beta of 3.04. The firm's fifty day moving average price is $15.47 and its 200-day moving average price is $13.68. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

Analyst Ratings Changes

BE has been the topic of several recent analyst reports. Robert W. Baird dropped their target price on shares of Bloom Energy from $18.00 to $15.00 and set an "outperform" rating on the stock in a report on Friday, November 8th. Truist Financial dropped their price objective on shares of Bloom Energy from $13.00 to $12.00 and set a "hold" rating on the stock in a report on Wednesday, October 16th. Marathon Capitl raised shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, November 11th. HSBC downgraded Bloom Energy from a "buy" rating to a "hold" rating and set a $24.50 price objective for the company. in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada boosted their price target on Bloom Energy from $15.00 to $28.00 and gave the stock an "outperform" rating in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Bloom Energy currently has a consensus rating of "Hold" and an average price target of $20.08.

Insiders Place Their Bets

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $24.56, for a total transaction of $31,657.84. Following the completion of the transaction, the insider now owns 168,561 shares of the company's stock, valued at $4,139,858.16. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kr Sridhar sold 72,903 shares of the company's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total value of $1,824,033.06. Following the transaction, the chief executive officer now directly owns 1,869,593 shares in the company, valued at approximately $46,777,216.86. The trade was 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 90 days. 8.81% of the stock is currently owned by insiders.

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.