Massachusetts Financial Services Co. MA Invests $15.62 Million in Bloom Energy Co. (NYSE:BE)

Massachusetts Financial Services Co. MA purchased a new position in shares of Bloom Energy Co. (NYSE:BE - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 703,386 shares of the company's stock, valued at approximately $15,622,000. Massachusetts Financial Services Co. MA owned 0.31% of Bloom Energy at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Bloom Energy during the 4th quarter worth 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 bought a new stake in shares of Bloom Energy in the fourth quarter valued at about $30,539,000. Wellington Management Group LLP grew its holdings in shares of Bloom Energy by 306.3% during the fourth quarter. Wellington Management Group LLP now owns 1,383,897 shares of the company's stock worth $30,736,000 after buying an additional 1,043,326 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Bloom Energy in the 4th quarter valued at approximately $19,629,000. Institutional investors own 77.04% of the company's stock.

Bloom Energy Stock Down 8.0 %

Shares of NYSE BE traded down $1.43 during trading on Thursday, hitting $16.44. The stock had a trading volume of 3,085,966 shares, compared to its average volume of 6,810,585. Bloom Energy Co. has a 12 month low of $9.02 and a 12 month high of $29.83. The firm has a fifty day moving average of $22.80 and a two-hundred day moving average of $20.27. 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 company has a market capitalization of $3.79 billion, a PE ratio of -29.36 and a beta of 3.27.

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Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BE. HSBC upgraded shares of Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 price objective on the stock in a report on Tuesday. BMO Capital Markets reaffirmed a "market perform" rating on shares of Bloom Energy in a research report on Friday, February 28th. Piper Sandler cut their price objective on Bloom Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Robert W. Baird boosted their price objective on shares of Bloom Energy from $15.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday, December 12th. Finally, Royal Bank of Canada reiterated an "outperform" rating on shares of Bloom Energy in a report on Tuesday, April 1st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $24.29.

Insider Buying and Selling

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of the firm's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the completion of the transaction, the insider now directly owns 171,040 shares of the company's stock, valued at $4,005,756.80. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Satish Chitoori sold 1,020 shares of the company's stock in a transaction on Monday, March 17th. The stock was 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 directly owns 178,656 shares in the company, valued at approximately $4,482,479.04. The trade was a 0.57 % decrease in their position. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by corporate insiders.

About Bloom Energy

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.