Palumbo Wealth Management LLC Purchases Shares of 11,831 Bloom Energy Co. (NYSE:BE)

Palumbo Wealth Management LLC acquired a new stake in Bloom Energy Co. (NYSE:BE - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 11,831 shares of the company's stock, valued at approximately $263,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avior Wealth Management LLC bought a new stake in shares of Bloom Energy in the fourth quarter worth about $40,000. Millburn Ridgefield Corp increased its stake in shares of Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company's stock valued at $25,000 after buying an additional 528 shares during the period. GAMMA Investing LLC increased its stake in shares of Bloom Energy by 26.8% during the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company's stock valued at $60,000 after buying an additional 569 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Bloom Energy in the third quarter worth $34,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in Bloom Energy in the third quarter worth $74,000. Institutional investors own 77.04% of the company's stock.

Bloom Energy Stock Performance

NYSE BE traded up $0.52 during trading hours on Wednesday, hitting $26.54. The company's stock had a trading volume of 3,359,810 shares, compared to its average volume of 6,391,588. 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 cap of $6.07 billion, a P/E ratio of -47.39 and a beta of 3.06. The company's 50 day simple moving average is $24.23 and its two-hundred day simple moving average is $17.46. Bloom Energy Co. has a 12 month low of $8.41 and a 12 month high of $29.83.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of the business's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the sale, the insider now directly owns 171,040 shares in the company, valued at $4,005,756.80. The trade was a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kr Sridhar sold 46,697 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the completion of the transaction, the chief executive officer now owns 1,822,496 shares in the company, valued at $45,562,400. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BE. Roth Capital raised shares of Bloom Energy to a "hold" rating in a research report on Tuesday, December 10th. Hsbc Global Res raised Bloom Energy to a "hold" rating in a research report on Wednesday, November 20th. Jefferies Financial Group raised their target price on Bloom Energy from $12.00 to $22.00 and gave the company a "hold" rating in a research note on Friday, November 22nd. Morgan Stanley upped their price target on Bloom Energy from $20.00 to $28.00 and gave the stock an "overweight" rating in a research note on Monday, November 18th. Finally, Susquehanna raised their price objective on Bloom Energy from $20.00 to $33.00 and gave the company a "positive" rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $24.18.

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.