LPL Financial LLC grew its position in shares of Bloom Energy Co. (NYSE:BE – Free Report) by 9.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 61,589 shares of the company’s stock after acquiring an additional 5,188 shares during the quarter. LPL Financial LLC’s holdings in Bloom Energy were worth $1,007,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of BE. Norges Bank bought a new position in shares of Bloom Energy during the 4th quarter valued at approximately $102,826,000. Vanguard Group Inc. lifted its position in Bloom Energy by 12.8% in the third quarter. Vanguard Group Inc. now owns 16,259,631 shares of the company’s stock worth $325,030,000 after buying an additional 1,842,320 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in Bloom Energy in the first quarter worth $15,759,000. Millennium Management LLC lifted its position in Bloom Energy by 885.1% in the fourth quarter. Millennium Management LLC now owns 860,687 shares of the company’s stock worth $16,456,000 after buying an additional 773,317 shares during the last quarter. Finally, State Street Corp lifted its position in Bloom Energy by 24.2% in the second quarter. State Street Corp now owns 3,770,342 shares of the company’s stock worth $62,211,000 after buying an additional 734,694 shares during the last quarter. 82.95% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages recently issued reports on BE. JPMorgan Chase & Co. lowered their price target on Bloom Energy from $22.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, October 19th. Morgan Stanley reduced their target price on Bloom Energy from $29.00 to $23.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 17th. KeyCorp reduced their target price on Bloom Energy from $32.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, October 5th. CL King initiated coverage on Bloom Energy in a research note on Friday. They issued a “buy” rating and a $15.00 target price on the stock. Finally, Raymond James reduced their target price on Bloom Energy from $25.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 3rd. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.44.
Insider Buying and Selling at Bloom Energy
In other Bloom Energy news, EVP Guillermo Brooks sold 3,792 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $12.47, for a total transaction of $47,286.24. Following the completion of the sale, the executive vice president now directly owns 143,401 shares of the company’s stock, valued at $1,788,210.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.81% of the company’s stock.
Bloom Energy Stock Up 1.1 %
NYSE:BE opened at $12.56 on Friday. Bloom Energy Co. has a 1-year low of $9.51 and a 1-year high of $26.55. The company has a 50-day moving average of $12.18 and a 200 day moving average of $14.50. The firm has a market cap of $2.81 billion, a PE ratio of -7.39 and a beta of 2.83. The company has a debt-to-equity ratio of 2.48, a current ratio of 3.64 and a quick ratio of 2.61.
Bloom Energy 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.
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