Proficio Capital Partners LLC Buys New Shares in Bloom Energy Co. (NYSE:BE)

Proficio Capital Partners LLC purchased a new stake in Bloom Energy Co. (NYSE:BE - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 35,447 shares of the company's stock, valued at approximately $787,000.

A number of other institutional investors have also modified their holdings of BE. Elemental Capital Partners LLC bought a new position in shares of Bloom Energy in the fourth quarter worth $33,612,000. JAT Capital Mgmt LP lifted its position in shares of Bloom Energy by 50.0% in the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company's stock worth $23,221,000 after purchasing an additional 733,363 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Bloom Energy by 68.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,026,488 shares of the company's stock valued at $22,798,000 after acquiring an additional 417,120 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Bloom Energy during the 3rd quarter valued at about $3,762,000. Finally, Edgestream Partners L.P. acquired a new stake in Bloom Energy in the 3rd quarter worth approximately $3,274,000. Institutional investors own 77.04% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on BE. Truist Financial increased their price objective on Bloom Energy from $11.00 to $22.00 and gave the company a "hold" rating in a research report on Thursday, January 16th. Roth Capital upgraded Bloom Energy to a "hold" rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. boosted their price target on shares of Bloom Energy from $14.00 to $16.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. Robert W. Baird lifted their target price on shares of Bloom Energy from $15.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday, December 12th. Finally, BTIG Research increased their price target on shares of Bloom Energy from $20.00 to $30.00 and gave the stock a "buy" rating in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Bloom Energy has a consensus rating of "Hold" and an average target price of $25.06.

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Insider Activity

In related news, insider Satish Chitoori sold 1,020 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the sale, the insider now owns 178,656 shares in the company, valued at approximately $4,482,479.04. This represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Shawn Marie Soderberg sold 1,639 shares of the company'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 completion of the sale, the insider now directly 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 disclosure for this sale can be found here. 8.81% of the stock is owned by insiders.

Bloom Energy Price Performance

NYSE:BE traded down $0.91 during mid-day trading on Wednesday, reaching $22.20. 4,796,994 shares of the company were exchanged, compared to its average volume of 6,596,520. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The stock has a market cap of $5.11 billion, a PE ratio of -39.64 and a beta of 3.30. Bloom Energy Co. has a 12 month low of $9.02 and a 12 month high of $29.83. The company has a fifty day moving average of $24.12 and a 200 day moving average of $19.60.

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.