State of New Jersey Common Pension Fund D Buys 47,272 Shares of Bloom Energy Co. (NYSE:BE)

State of New Jersey Common Pension Fund D increased its position in Bloom Energy Co. (NYSE:BE - Free Report) by 39.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 167,108 shares of the company's stock after purchasing an additional 47,272 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.07% of Bloom Energy worth $1,765,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC bought a new stake in Bloom Energy in the second quarter valued at $40,000. Quest Partners LLC lifted its position in Bloom Energy by 2,780.0% in the 2nd 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 last quarter. Gilliland Jeter Wealth Management LLC acquired a new position in Bloom Energy during the 2nd quarter valued at about $53,000. Mather Group LLC. bought a new position in Bloom Energy in the 2nd quarter worth about $66,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Bloom Energy in the third quarter valued at approximately $74,000. Hedge funds and other institutional investors own 77.04% of the company's stock.

Wall Street Analyst Weigh In

BE has been the subject of several analyst reports. Truist Financial reduced their price objective on Bloom Energy from $13.00 to $12.00 and set a "hold" rating for the company in a research report on Wednesday, October 16th. Marathon Capitl raised Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, November 11th. Jefferies Financial Group downgraded shares of Bloom Energy from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $15.00 to $11.00 in a report on Friday, September 6th. BMO Capital Markets increased their target price on shares of Bloom Energy from $12.00 to $19.50 and gave the company a "market perform" rating in a research report on Friday. Finally, Royal Bank of Canada boosted their price target on shares of Bloom Energy from $15.00 to $28.00 and gave the stock an "outperform" rating in a research report on Monday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $17.17.

Bloom Energy Trading Up 4.7 %

Shares of BE stock traded up $1.07 during trading hours on Tuesday, reaching $23.88. 8,134,142 shares of the company's stock were exchanged, compared to its average volume of 6,407,838. Bloom Energy Co. has a fifty-two week low of $8.41 and a fifty-two week high of $24.92. The business has a fifty day moving average price of $10.82 and a 200-day moving average price of $12.28. 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 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.