Smartleaf Asset Management LLC Acquires 934 Shares of Bloom Energy Co. (NYSE:BE)

Smartleaf Asset Management LLC lifted its holdings in shares of Bloom Energy Co. (NYSE:BE) by 291.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,255 shares of the company’s stock after acquiring an additional 934 shares during the period. Smartleaf Asset Management LLC’s holdings in Bloom Energy were worth $28,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BE. QRG Capital Management Inc. bought a new stake in Bloom Energy in the 3rd quarter worth about $114,000. State of New Jersey Common Pension Fund D grew its position in Bloom Energy by 39.4% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 167,108 shares of the company’s stock worth $1,765,000 after purchasing an additional 47,272 shares in the last quarter. Versor Investments LP bought a new stake in Bloom Energy in the 3rd quarter worth about $189,000. GSA Capital Partners LLP bought a new stake in Bloom Energy in the 3rd quarter worth about $268,000. Finally, Oppenheimer & Co. Inc. grew its position in Bloom Energy by 148.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 130,418 shares of the company’s stock worth $1,377,000 after purchasing an additional 78,009 shares in the last quarter. 77.04% of the stock is owned by institutional investors.

Bloom Energy Stock Performance

NYSE BE opened at $24.57 on Thursday. Bloom Energy Co. has a 1 year low of $8.82 and a 1 year high of $29.83. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The stock has a market capitalization of $5.66 billion, a PE ratio of -43.87 and a beta of 3.30. The company’s 50 day simple moving average is $24.11 and its two-hundred day simple moving average is $18.74.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BE shares. Truist Financial increased their target price on shares of Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. HSBC downgraded 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 report on Wednesday, November 20th. Piper Sandler reduced their target price on shares of Bloom Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Morgan Stanley increased their target price on shares of Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Finally, Susquehanna increased their target price on shares of Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.47.

Insiders Place Their Bets

In other news, insider Shawn Marie Soderberg sold 1,639 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction of $38,385.38. Following the sale, the insider now owns 171,040 shares in the company, valued at approximately $4,005,756.80. This trade represents a 0.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 8.81% of the company’s stock.

About Bloom Energy

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.