Florida Financial Advisors LLC purchased a new stake in Bloom Energy Corporation (NYSE:BE – Free Report) during the 4th quarter, Holdings Channel reports. The firm purchased 13,136 shares of the company’s stock, valued at approximately $1,140,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. acquired a new stake in Bloom Energy in the 4th quarter valued at $6,596,000. Gulf International Bank UK Ltd acquired a new position in shares of Bloom Energy during the 4th quarter worth about $976,000. AdvisorShares Investments LLC acquired a new position in shares of Bloom Energy during the 4th quarter worth about $103,000. Forsta AP Fonden acquired a new position in shares of Bloom Energy during the 4th quarter worth about $4,136,000. Finally, Norges Bank acquired a new position in shares of Bloom Energy during the 4th quarter worth about $239,683,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.
Bloom Energy Stock Performance
Shares of BE stock opened at $284.48 on Monday. The company has a market capitalization of $80.92 billion, a price-to-earnings ratio of -5,688.50 and a beta of 3.74. The company has a debt-to-equity ratio of 2.90, a quick ratio of 4.10 and a current ratio of 5.03. The company has a 50-day simple moving average of $220.81 and a 200 day simple moving average of $160.38. Bloom Energy Corporation has a 52 week low of $18.12 and a 52 week high of $322.83.
Analysts Set New Price Targets
Several research firms have recently weighed in on BE. TD Cowen boosted their price objective on shares of Bloom Energy to $235.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. BTIG Research boosted their price objective on shares of Bloom Energy to $295.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Barclays boosted their price objective on shares of Bloom Energy to $254.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Wells Fargo & Company boosted their price objective on shares of Bloom Energy to $217.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. Finally, Jefferies Financial Group upgraded shares of Bloom Energy from an “underperform” rating to a “hold” rating and set a $187.00 price objective on the stock in a research note on Tuesday, April 14th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Bloom Energy presently has an average rating of “Moderate Buy” and an average target price of $217.48.
Read Our Latest Research Report on BE
Insider Buying and Selling at Bloom Energy
In related news, insider Satish Chitoori sold 2,111 shares of Bloom Energy stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $288.24, for a total transaction of $608,474.64. Following the completion of the sale, the insider owned 210,254 shares of the company’s stock, valued at approximately $60,603,612.96. The trade was a 0.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Maciej Kurzymski sold 6,229 shares of Bloom Energy stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $293.36, for a total transaction of $1,827,339.44. Following the sale, the chief accounting officer directly owned 81,945 shares of the company’s stock, valued at $24,039,385.20. The trade was a 7.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 268,777 shares of company stock worth $55,112,564 in the last ninety days. Insiders own 3.00% of the company’s stock.
Bloom Energy News Roundup
Here are the key news stories impacting Bloom Energy this week:
- Positive Sentiment: Bloom Energy continues to get bullish attention from analysts and media, including a recent Daiwa upgrade to Outperform with a $324 price target, citing an inflection in orders, capacity, and margins. Here’s Why Bloom Energy (BE) Is Among the Best Future Stocks to Buy Right Now
- Positive Sentiment: Recent commentary also highlights Bloom Energy’s strong growth outlook, with articles pointing to rising interest in its fuel-cell technology and improving earnings potential. Bloom Energy: Spare Capacity May Lead To Surging EPS Growth
- Neutral Sentiment: Several comparison pieces versus FuelCell Energy kept Bloom in the spotlight, with analysts favoring BE’s estimate upgrades and return on invested capital over FCEL’s lower leverage. Bloom Energy vs. FuelCell Energy: Which Clean Energy Stock Leads?
- Negative Sentiment: The main driver of weakness appears to be profit-taking after a steep recent move, as traders unwind positions tied to the AI data-center power-demand theme. Bloom Energy Stock Is Sliding: What’s Driving The Move?
- Negative Sentiment: Another note from Thursday said BE was already slipping as investors reassessed how much upside was left after the recent surge. What’s Going On With Bloom Energy Stock Today?
About Bloom Energy
Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.
Founded in 2001 by Dr.
Further Reading
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