Capital World Investors lifted its position in Bloom Energy Corporation (NYSE:BE – Free Report) by 2.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,752,338 shares of the company’s stock after buying an additional 44,155 shares during the quarter. Capital World Investors’ holdings in Bloom Energy were worth $152,261,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Creekmur Asset Management LLC purchased a new position in shares of Bloom Energy in the 3rd quarter worth approximately $1,825,000. Strs Ohio grew its position in shares of Bloom Energy by 24.8% in the 4th quarter. Strs Ohio now owns 41,200 shares of the company’s stock worth $3,580,000 after buying an additional 8,200 shares during the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Bloom Energy in the 3rd quarter worth approximately $1,985,000. Fortem Financial Group LLC purchased a new position in shares of Bloom Energy in the 4th quarter worth approximately $369,000. Finally, SPX Gestao de Recursos Ltda purchased a new stake in Bloom Energy during the 3rd quarter worth approximately $1,691,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.
Bloom Energy Stock Performance
Shares of NYSE BE opened at $253.74 on Tuesday. The company has a current ratio of 5.03, a quick ratio of 4.10 and a debt-to-equity ratio of 2.90. Bloom Energy Corporation has a 12 month low of $20.93 and a 12 month high of $322.83. The company has a 50 day simple moving average of $236.53 and a two-hundred day simple moving average of $167.38. The stock has a market cap of $72.17 billion, a price-to-earnings ratio of -5,073.79 and a beta of 3.74.
Insider Buying and Selling at Bloom Energy
In other Bloom Energy news, Director John T. Chambers sold 55,000 shares of Bloom Energy stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $297.69, for a total transaction of $16,372,950.00. Following the completion of the sale, the director directly owned 238,333 shares in the company, valued at approximately $70,949,350.77. The trade was a 18.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Shawn Marie Soderberg sold 2,746 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $259.42, for a total transaction of $712,367.32. Following the completion of the transaction, the insider owned 135,107 shares of the company’s stock, valued at approximately $35,049,457.94. This represents a 1.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 323,777 shares of company stock worth $71,485,514. Corporate insiders own 3.00% of the company’s stock.
Analyst Ratings Changes
BE has been the topic of several research analyst reports. BTIG Research boosted their target price on shares of Bloom Energy to $295.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Robert W. Baird boosted their target price on shares of Bloom Energy to $242.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Morgan Stanley reissued an “overweight” rating and set a $310.00 target price on shares of Bloom Energy in a research report on Wednesday, April 29th. Citigroup reissued a “neutral” rating on shares of Bloom Energy in a research report on Thursday, May 28th. Finally, Susquehanna boosted their target price on shares of Bloom Energy to $293.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Bloom Energy presently has an average rating of “Moderate Buy” and a consensus target price of $217.48.
Read Our Latest Report on Bloom Energy
Bloom Energy Company Profile
Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.
Founded in 2001 by Dr.
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