Strategic Financial Concepts LLC acquired a new position in shares of Bloom Energy Co. (NYSE:BE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 22,268 shares of the company's stock, valued at approximately $495,000.
A number of other hedge funds have also modified their holdings of the business. JAT Capital Mgmt LP increased its stake in shares of Bloom Energy by 50.0% during the 3rd 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. Elemental Capital Partners LLC purchased a new position in shares of Bloom Energy during the 4th quarter worth approximately $33,612,000. Van ECK Associates Corp increased its stake in shares of Bloom Energy by 13.1% during the 3rd quarter. Van ECK Associates Corp now owns 661,932 shares of the company's stock worth $6,990,000 after purchasing an additional 76,536 shares in the last quarter. Pier Capital LLC increased its stake in shares of Bloom Energy by 0.9% during the 3rd quarter. Pier Capital LLC now owns 461,744 shares of the company's stock worth $4,876,000 after purchasing an additional 4,082 shares in the last quarter. Finally, Mizuho Markets Americas LLC increased its stake in shares of Bloom Energy by 8.2% during the 3rd quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company's stock worth $4,335,000 after purchasing an additional 31,189 shares in the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
BE has been the subject of several recent analyst reports. Hsbc Global Res raised shares of Bloom Energy to a "hold" rating in a research note on Wednesday, November 20th. HSBC cut shares of Bloom Energy from a "buy" rating to a "hold" rating and set a $24.50 target price for the company. in a research note on Wednesday, November 20th. UBS Group lifted their price target on shares of Bloom Energy from $21.00 to $33.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Marathon Capitl upgraded shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, November 11th. Finally, BMO Capital Markets lifted their price target on shares of Bloom Energy from $12.00 to $19.50 and gave the company a "market perform" rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Bloom Energy has an average rating of "Hold" and a consensus target price of $23.72.
Check Out Our Latest Stock Report on Bloom Energy
Insiders Place Their Bets
In other news, insider Shawn Marie Soderberg sold 1,289 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the completion of the sale, the insider now owns 168,561 shares of the company's stock, valued at approximately $4,139,858.16. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kr Sridhar sold 72,903 shares of the business's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the completion of the sale, the chief executive officer now directly owns 1,869,593 shares of the company's stock, valued at $46,777,216.86. The trade was a 3.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,528 shares of company stock worth $3,061,501 in the last quarter. 8.81% of the stock is owned by corporate insiders.
Bloom Energy Stock Up 3.1 %
BE stock traded up $0.76 during trading on Friday, reaching $25.47. The stock had a trading volume of 4,474,430 shares, compared to its average volume of 7,184,791. Bloom Energy Co. has a 1-year low of $8.41 and a 1-year high of $29.83. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The company has a market capitalization of $5.82 billion, a P/E ratio of -45.48 and a beta of 3.06. The firm has a fifty day moving average price of $24.14 and a 200 day moving average price of $17.21.
Bloom Energy Company Profile
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Free Report)
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.
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