New York State Common Retirement Fund decreased its position in Bloom Energy Co. (NYSE:BE - Free Report) by 97.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 63,825 shares of the company's stock after selling 2,381,600 shares during the quarter. New York State Common Retirement Fund's holdings in Bloom Energy were worth $1,418,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BE. Millburn Ridgefield Corp increased its stake in Bloom Energy by 29.2% in the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company's stock valued at $25,000 after purchasing an additional 528 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Bloom Energy during the 3rd quarter worth about $34,000. Avior Wealth Management LLC purchased a new position in shares of Bloom Energy during the 4th quarter worth about $40,000. GAMMA Investing LLC grew its holdings in Bloom Energy by 26.8% in the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company's stock valued at $60,000 after purchasing an additional 569 shares during the period. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in Bloom Energy during the third quarter worth approximately $74,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of Bloom Energy from $12.00 to $22.00 and gave the company a "hold" rating in a research note on Friday, November 22nd. TD Cowen raised 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. Roth Mkm assumed coverage on shares of Bloom Energy in a research report on Wednesday, December 11th. They set a "neutral" rating and a $25.00 price target on the stock. BTIG Research raised their target price on shares of Bloom Energy from $20.00 to $30.00 and gave the company a "buy" rating in a research note on Monday, December 16th. Finally, Marathon Capitl upgraded Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Bloom Energy presently has an average rating of "Hold" and a consensus target price of $24.47.
Check Out Our Latest Analysis on BE
Insiders Place Their Bets
In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of the firm's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the transaction, the insider now owns 171,040 shares of the company's stock, valued at $4,005,756.80. This trade represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.50% of the stock is currently owned by company insiders.
Bloom Energy Stock Down 6.3 %
Shares of BE stock traded down $1.51 during trading hours on Thursday, hitting $22.61. 2,730,269 shares of the company were exchanged, compared to its average volume of 6,748,415. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of -40.37 and a beta of 3.30. Bloom Energy Co. has a one year low of $8.82 and a one year high of $29.83. The business's 50-day simple moving average is $24.04 and its two-hundred day simple moving average is $18.33.
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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