Trivest Advisors Ltd bought a new position in Bloom Energy Co. (NYSE:BE - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,375,000 shares of the company's stock, valued at approximately $30,539,000. Bloom Energy comprises about 1.4% of Trivest Advisors Ltd's portfolio, making the stock its 26th largest position. Trivest Advisors Ltd owned approximately 0.60% of Bloom Energy as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its holdings in shares of Bloom Energy by 291.0% during 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. Mainstream Capital Management LLC bought a new position in Bloom Energy in the fourth quarter valued at about $28,000. Jones Financial Companies Lllp lifted its holdings in Bloom Energy by 120.5% in the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock valued at $33,000 after acquiring an additional 812 shares during the period. Avior Wealth Management LLC bought a new position in Bloom Energy in the fourth quarter valued at about $40,000. Finally, Millburn Ridgefield Corp lifted its holdings in Bloom Energy by 29.2% in the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company's stock valued at $25,000 after acquiring an additional 528 shares during the period. 77.04% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on BE shares. UBS Group increased their target price on Bloom Energy from $21.00 to $33.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. TD Cowen increased their target price on Bloom Energy from $13.00 to $20.00 and gave the company a "hold" rating in a report on Friday, February 28th. Piper Sandler decreased their price objective on Bloom Energy from $33.00 to $31.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Bloom Energy in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. raised their price objective on Bloom Energy from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $25.06.
View Our Latest Stock Report on BE
Insider Buying and Selling at Bloom Energy
In related news, insider Shawn Marie Soderberg sold 1,639 shares of the business's stock in a transaction on 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 directly 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 filing with the Securities & Exchange Commission, which is available through this link. Also, insider Satish Chitoori sold 1,020 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the sale, the insider now owns 178,656 shares in the company, valued at approximately $4,482,479.04. The trade was a 0.57 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is currently owned by corporate insiders.
Bloom Energy Trading Down 5.9 %
Shares of NYSE:BE traded down $1.51 during trading on Friday, hitting $23.90. The company had a trading volume of 7,838,588 shares, compared to its average volume of 6,718,207. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of -42.68 and a beta of 3.30. Bloom Energy Co. has a one year low of $9.02 and a one year high of $29.83. The company has a fifty day simple moving average of $24.10 and a two-hundred day simple moving average of $19.42. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.
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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