Bloom Energy Co. (NYSE:BE) Shares Sold by AlphaQuest LLC

AlphaQuest LLC cut its stake in Bloom Energy Co. (NYSE:BE) by 89.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,355 shares of the company’s stock after selling 19,001 shares during the period. AlphaQuest LLC’s holdings in Bloom Energy were worth $52,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of Bloom Energy in the fourth quarter worth $19,629,000. Arizona State Retirement System increased its stake in shares of Bloom Energy by 1.3% in the fourth quarter. Arizona State Retirement System now owns 59,592 shares of the company’s stock worth $1,324,000 after buying an additional 759 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Bloom Energy in the fourth quarter worth $787,000. M&T Bank Corp increased its stake in shares of Bloom Energy by 14.7% in the fourth quarter. M&T Bank Corp now owns 47,899 shares of the company’s stock worth $1,064,000 after buying an additional 6,122 shares during the last quarter. Finally, Mainstream Capital Management LLC acquired a new position in Bloom Energy in the fourth quarter worth $28,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BE shares. Susquehanna boosted their price target on shares of Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a report on Friday, December 6th. Roth Mkm started coverage on shares of Bloom Energy in a report on Wednesday, December 11th. They set a “neutral” rating and a $25.00 price target for the company. BTIG Research boosted their price target on shares of Bloom Energy from $20.00 to $30.00 and gave the company a “buy” rating in a report on Monday, December 16th. JPMorgan Chase & Co. boosted their price target on shares of Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Bloom Energy in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $25.06.

Insider Buying and Selling

In other news, insider Satish Chitoori sold 1,020 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $25.09, for a total value of $25,591.80. Following the transaction, the insider now owns 178,656 shares in the company, valued at $4,482,479.04. This trade represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total value of $38,385.38. Following the sale, the insider now owns 171,040 shares in the company, valued at $4,005,756.80. This trade represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.81% of the stock is currently owned by insiders.

Bloom Energy Trading Up 4.7 %

Shares of BE stock opened at $25.46 on Friday. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of -45.46 and a beta of 3.30. The stock has a 50-day moving average of $24.10 and a 200-day moving average of $19.22. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. Bloom Energy Co. has a 1-year low of $9.02 and a 1-year high of $29.83.

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.