Strategic Financial Concepts LLC purchased a new stake in 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 22,268 shares of the company's stock, valued at approximately $495,000.
Several other hedge funds also recently made changes to their positions in the stock. JAT Capital Mgmt LP grew 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 valued at $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 in the fourth quarter valued at $33,612,000. Van ECK Associates Corp grew its position in Bloom Energy by 13.1% during the third quarter. Van ECK Associates Corp now owns 661,932 shares of the company's stock worth $6,990,000 after buying an additional 76,536 shares in the last quarter. Pier Capital LLC grew its position in Bloom Energy by 0.9% during the third quarter. Pier Capital LLC now owns 461,744 shares of the company's stock worth $4,876,000 after buying an additional 4,082 shares in the last quarter. Finally, Mizuho Markets Americas LLC grew its position in Bloom Energy by 8.2% during the third quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company's stock worth $4,335,000 after buying an additional 31,189 shares in the last quarter. 77.04% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Bloom Energy
In related news, insider Shawn Marie Soderberg sold 1,639 shares of the business's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the transaction, the insider now owns 171,040 shares in the company, valued at $4,005,756.80. The trade was a 0.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.81% of the stock is owned by company insiders.
Analysts Set New Price Targets
BE has been the subject of several recent analyst reports. Roth Capital upgraded Bloom Energy to a "hold" rating in a research report on Tuesday, December 10th. Morgan Stanley boosted their target price on Bloom Energy from $20.00 to $28.00 and gave the stock an "overweight" rating in a research report on Monday, November 18th. BTIG Research boosted their target price on Bloom Energy from $20.00 to $30.00 and gave the stock a "buy" rating in a research report on Monday, December 16th. Bank of America reduced their target price on Bloom Energy from $20.00 to $18.00 and set an "underperform" rating for the company in a research report on Tuesday, January 28th. Finally, UBS Group lifted their price target on Bloom Energy from $21.00 to $33.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Bloom Energy presently has a consensus rating of "Hold" and an average price target of $24.18.
View Our Latest Research Report on BE
Bloom Energy Trading Down 6.8 %
Shares of NYSE BE traded down $1.76 during midday trading on Friday, reaching $24.23. The company had a trading volume of 2,616,451 shares, compared to its average volume of 6,273,626. Bloom Energy Co. has a one year low of $8.41 and a one year high of $29.83. 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 firm's fifty day moving average price is $24.25 and its 200-day moving average price is $17.52. The stock has a market cap of $5.54 billion, a PE ratio of -43.27 and a beta of 3.06.
About Bloom Energy
(
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.
See Also
Before you consider Bloom Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bloom Energy wasn't on the list.
While Bloom Energy currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
