Bloom Energy Co. (NYSE:BE) Holdings Raised by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its stake in Bloom Energy Co. (NYSE:BE - Free Report) by 21.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 106,019 shares of the company's stock after acquiring an additional 18,603 shares during the quarter. Pictet Asset Management Holding SA's holdings in Bloom Energy were worth $2,355,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mainstream Capital Management LLC acquired a new stake in Bloom Energy during the fourth quarter worth approximately $28,000. Smartleaf Asset Management LLC boosted its holdings in shares of Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock worth $28,000 after purchasing an additional 934 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock worth $33,000 after purchasing an additional 812 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Bloom Energy in the third quarter valued at $34,000. Finally, Avior Wealth Management LLC acquired a new position in Bloom Energy in the fourth quarter valued at $40,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Truist Financial raised their price target on Bloom Energy from $11.00 to $22.00 and gave the stock a "hold" rating in a research note on Thursday, January 16th. Piper Sandler lowered their target price on shares of Bloom Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Roth Mkm assumed coverage on shares of Bloom Energy in a research note on Wednesday, December 11th. They set a "neutral" rating and a $25.00 price target on the stock. Royal Bank of Canada reissued an "outperform" rating on shares of Bloom Energy in a research note on Tuesday, April 1st. Finally, BTIG Research upped their price objective on Bloom Energy from $20.00 to $30.00 and gave the stock a "buy" rating in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $25.08.

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Insider Activity

In other news, insider Shawn Marie Soderberg sold 1,639 shares of the firm's stock in a transaction that occurred on Thursday, January 16th. The shares were 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 owns 171,040 shares of the company's stock, valued at approximately $4,005,756.80. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Satish Chitoori sold 1,020 shares of Bloom Energy 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 sale, the insider now owns 178,656 shares of the company's stock, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.50% of the company's stock.

Bloom Energy Stock Down 1.5 %

Bloom Energy stock traded down $0.26 during midday trading on Tuesday, hitting $16.98. 8,088,846 shares of the stock were exchanged, compared to its average volume of 6,775,683. Bloom Energy Co. has a 1 year low of $9.02 and a 1 year high of $29.83. 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 $3.91 billion, a P/E ratio of -30.32 and a beta of 3.27. The company has a 50 day moving average price of $23.03 and a two-hundred day moving average price of $20.24.

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.