SCP Investment LP Buys Shares of 38,800 Bloom Energy Co. (NYSE:BE)

SCP Investment LP acquired a new stake in shares of Bloom Energy Co. (NYSE:BE - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 38,800 shares of the company's stock, valued at approximately $410,000.

Several other hedge funds also recently modified their holdings of the company. Xponance Inc. raised its stake in Bloom Energy by 7.8% during the 2nd quarter. Xponance Inc. now owns 12,542 shares of the company's stock worth $154,000 after buying an additional 903 shares during the period. Arizona State Retirement System grew its holdings in Bloom Energy by 2.7% during the second quarter. Arizona State Retirement System now owns 56,886 shares of the company's stock valued at $696,000 after purchasing an additional 1,470 shares during the period. ProShare Advisors LLC grew its holdings in Bloom Energy by 6.2% during the first quarter. ProShare Advisors LLC now owns 46,518 shares of the company's stock valued at $523,000 after purchasing an additional 2,719 shares during the period. Quest Partners LLC grew its holdings in Bloom Energy by 2,780.0% during the second quarter. Quest Partners LLC now owns 3,600 shares of the company's stock valued at $44,000 after purchasing an additional 3,475 shares during the period. Finally, ORG Partners LLC bought a new position in shares of Bloom Energy in the second quarter worth $40,000. Institutional investors and hedge funds own 77.04% of the company's stock.

Bloom Energy Price Performance

Bloom Energy stock traded up $1.04 during mid-day trading on Wednesday, hitting $24.79. The stock had a trading volume of 14,333,099 shares, compared to its average volume of 6,471,246. The firm's 50 day moving average is $11.36 and its 200 day moving average is $12.45. Bloom Energy Co. has a one year low of $8.41 and a one year high of $25.12. The firm has a market capitalization of $5.67 billion, a P/E ratio of -43.09 and a beta of 2.71. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09.

Insider Buying and Selling at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,289 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $24.56, for a total transaction of $31,657.84. Following the transaction, the insider now directly owns 168,561 shares of the company's stock, valued at approximately $4,139,858.16. This trade represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BE. Morgan Stanley raised their price target on Bloom Energy from $20.00 to $28.00 and gave the stock an "overweight" rating in a report on Monday. HSBC downgraded Bloom Energy from a "buy" rating to a "hold" rating and set a $24.50 price objective on the stock. in a research report on Wednesday. UBS Group lowered their price objective on Bloom Energy from $25.00 to $23.00 and set a "buy" rating on the stock in a research report on Thursday, August 15th. Royal Bank of Canada increased their price objective on Bloom Energy from $15.00 to $28.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, BMO Capital Markets increased their price objective on Bloom Energy from $12.00 to $19.50 and gave the stock a "market perform" rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $17.55.

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.