Raymond James Financial Inc. Buys Shares of 883,792 Bloom Energy Co. (NYSE:BE)

Raymond James Financial Inc. purchased a new position in shares of Bloom Energy Co. (NYSE:BE - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 883,792 shares of the company's stock, valued at approximately $19,629,000. Raymond James Financial Inc. owned approximately 0.39% of Bloom Energy as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in BE. Mainstream Capital Management LLC purchased a new position in shares of Bloom Energy in the fourth quarter worth about $28,000. Smartleaf Asset Management LLC grew its position in shares of Bloom Energy by 291.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock valued at $28,000 after purchasing an additional 934 shares in the last quarter. Jones Financial Companies Lllp lifted its position in 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 buying an additional 812 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Bloom Energy during the third quarter worth $34,000. Finally, Avior Wealth Management LLC acquired a new stake in shares of Bloom Energy in the 4th quarter worth $40,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Bloom Energy Stock Performance

Shares of Bloom Energy stock opened at $17.03 on Friday. The firm has a market capitalization of $3.92 billion, a P/E ratio of -30.41 and a beta of 3.27. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. Bloom Energy Co. has a 52 week low of $9.02 and a 52 week high of $29.83. The firm's 50 day moving average is $21.85 and its two-hundred day moving average is $20.61.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. HSBC upgraded shares of Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 price objective for the company in a research report on Tuesday, April 8th. Redburn Atlantic cut Bloom Energy from a "neutral" rating to a "sell" rating and decreased their price objective for the company from $14.50 to $10.00 in a report on Wednesday, April 9th. Piper Sandler cut their target price on Bloom Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Hsbc Global Res upgraded Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Finally, Royal Bank of Canada set a $26.00 target price on shares of Bloom Energy in a research report on Monday, April 14th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $23.13.

Insider Buying and Selling

In other Bloom Energy news, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction that occurred 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 transaction, the insider now owns 178,656 shares of the company's stock, valued at $4,482,479.04. The trade was a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 8.81% of the stock is owned by company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.