35,447 Shares in Bloom Energy Co. (NYSE:BE) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new position in Bloom Energy Co. (NYSE:BE) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 35,447 shares of the company’s stock, valued at approximately $787,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BE. M&T Bank Corp grew its position in Bloom Energy by 14.7% during the 4th quarter. M&T Bank Corp now owns 47,899 shares of the company’s stock worth $1,064,000 after purchasing an additional 6,122 shares during the period. Mainstream Capital Management LLC acquired a new stake in Bloom Energy during the 4th quarter worth about $28,000. Charles Schwab Investment Management Inc. grew its position in Bloom Energy by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company’s stock worth $36,737,000 after purchasing an additional 10,265 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Bloom Energy during the 4th quarter worth about $310,000. Finally, Jones Financial Companies Lllp grew its position in Bloom Energy by 120.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after purchasing an additional 812 shares during the period. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Bloom Energy Trading Down 5.9 %

BE stock opened at $23.90 on Friday. 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 12-month low of $9.02 and a 12-month high of $29.83. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of -42.68 and a beta of 3.30. The business’s 50-day moving average is $24.10 and its 200 day moving average is $19.36.

Insider Buying and Selling

In other Bloom Energy news, insider Satish Chitoori sold 1,020 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the transaction, the insider now directly owns 178,656 shares of the company’s stock, valued at $4,482,479.04. This trade represents a 0.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,639 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the transaction, the insider now directly 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.

Wall Street Analysts Forecast Growth

BE has been the topic of several analyst reports. TD Cowen increased their price target on Bloom Energy from $13.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, February 28th. Roth Capital raised Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. Piper Sandler dropped their target price on Bloom Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Roth Mkm started coverage on Bloom Energy in a research report on Wednesday, December 11th. They set a “neutral” rating and a $25.00 target price on the stock. Finally, Truist Financial raised their target price on Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Bloom Energy has a consensus rating of “Hold” and a consensus price target of $25.06.

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.