Teacher Retirement System of Texas Makes New $214,000 Investment in Bloom Energy Co. (NYSE:BE)

Teacher Retirement System of Texas acquired a new stake in Bloom Energy Co. (NYSE:BE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 9,643 shares of the company’s stock, valued at approximately $214,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Trivest Advisors Ltd acquired a new position in shares of Bloom Energy during the fourth quarter valued at about $30,539,000. Credit Capital Investments LLC acquired a new position in Bloom Energy during the 4th quarter valued at about $300,000. Chesapeake Capital Corp IL acquired a new position in Bloom Energy during the 4th quarter valued at about $220,000. Xponance Inc. increased its holdings in Bloom Energy by 12.4% during the 4th quarter. Xponance Inc. now owns 14,549 shares of the company’s stock worth $323,000 after purchasing an additional 1,607 shares in the last quarter. Finally, Intech Investment Management LLC raised its stake in shares of Bloom Energy by 25.1% in the fourth quarter. Intech Investment Management LLC now owns 71,125 shares of the company’s stock worth $1,580,000 after purchasing an additional 14,291 shares during the last quarter. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Price Performance

Shares of NYSE BE opened at $21.16 on Thursday. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The stock has a fifty day simple moving average of $23.74 and a two-hundred day simple moving average of $19.99. Bloom Energy Co. has a 1-year low of $9.02 and a 1-year high of $29.83. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of -37.79 and a beta of 3.30.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. BMO Capital Markets reaffirmed a “market perform” rating on shares of Bloom Energy in a research report on Friday, February 28th. Susquehanna lifted their price objective on shares of Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a report on Friday, December 6th. Truist Financial upped their target price on shares of Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. TD Cowen raised their price target on shares of Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $25.06.

Insider Activity

In other news, insider Satish Chitoori sold 1,020 shares of the firm’s stock in a transaction 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were 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 approximately $4,005,756.80. The trade was a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.81% of the company’s stock.

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.