Bloom Energy Co. (NYSE:BE) Stock Position Raised by Quest Partners LLC

Quest Partners LLC lifted its stake in shares of Bloom Energy Co. (NYSE:BE) by 493.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,356 shares of the company’s stock after purchasing an additional 17,756 shares during the period. Quest Partners LLC’s holdings in Bloom Energy were worth $226,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. ORG Partners LLC acquired a new stake in Bloom Energy during the 2nd quarter valued at $40,000. Gilliland Jeter Wealth Management LLC purchased a new stake in Bloom Energy in the 2nd quarter worth about $53,000. Mather Group LLC. acquired a new stake in Bloom Energy during the 2nd quarter worth about $66,000. Emerald Mutual Fund Advisers Trust purchased a new position in Bloom Energy during the 3rd quarter valued at about $74,000. Finally, Itau Unibanco Holding S.A. purchased a new position in Bloom Energy during the 2nd quarter valued at about $103,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Bloom Energy Stock Up 0.9 %

BE stock opened at $26.18 on Wednesday. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of -46.20 and a beta of 2.71. The company has a 50-day moving average of $12.54 and a two-hundred day moving average of $12.82. Bloom Energy Co. has a 52-week low of $8.41 and a 52-week high of $26.92. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.

Analyst Upgrades and Downgrades

BE has been the subject of several research reports. Piper Sandler raised their price target on shares of Bloom Energy from $20.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Royal Bank of Canada lifted their target price on shares of Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Robert W. Baird dropped their price target on shares of Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Morgan Stanley lifted their price objective on Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Finally, Bank of America dropped their target price on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Bloom Energy presently has an average rating of “Hold” and a consensus target price of $19.18.

Insider Buying and Selling

In related news, CEO Kr Sridhar sold 46,697 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the transaction, the chief executive officer now directly owns 1,822,496 shares in the company, valued at $45,562,400. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shawn Marie Soderberg sold 1,289 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $24.56, for a total value of $31,657.84. Following the completion of the sale, the insider now owns 168,561 shares of the company’s stock, valued at $4,139,858.16. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 122,975 shares of company stock valued at $3,045,019. Insiders own 3.50% of the company’s stock.

Bloom Energy Company 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.