Wealth Enhancement Advisory Services LLC Buys 1,000 Shares of Bloom Energy Co. (NYSE:BE)

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Bloom Energy Co. (NYSE:BE) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,400 shares of the company’s stock after buying an additional 1,000 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Bloom Energy were worth $1,053,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Quest Partners LLC grew its stake in shares of Bloom Energy by 2,780.0% in the second quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after acquiring an additional 3,475 shares during the period. State of New Jersey Common Pension Fund D purchased a new stake in Bloom Energy in the second quarter worth approximately $1,467,000. Moors & Cabot Inc. bought a new stake in Bloom Energy in the 2nd quarter worth approximately $263,000. Lumbard & Kellner LLC purchased a new stake in Bloom Energy during the 2nd quarter valued at $3,019,000. Finally, Central Asset Investments & Management Holdings HK Ltd bought a new position in shares of Bloom Energy during the 2nd quarter valued at $261,000. 77.04% of the stock is owned by institutional investors.

Bloom Energy Trading Up 1.7 %

Bloom Energy stock opened at $22.69 on Thursday. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The stock has a market cap of $5.19 billion, a PE ratio of -40.52 and a beta of 3.06. The stock has a 50-day moving average of $23.15 and a two-hundred day moving average of $15.50. Bloom Energy Co. has a one year low of $8.41 and a one year high of $28.70.

Insider Activity

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $24.56, for a total transaction of $31,657.84. Following the completion of the sale, the insider now owns 168,561 shares of the company’s stock, valued at approximately $4,139,858.16. The trade was a 0.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kr Sridhar sold 46,697 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $25.00, for a total value of $1,167,425.00. Following the completion of the transaction, the chief executive officer now directly owns 1,822,496 shares in the company, valued at $45,562,400. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 120,889 shares of company stock worth $3,023,116 over the last 90 days. 8.81% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BE. Royal Bank of Canada raised their price objective on shares of Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. BMO Capital Markets lifted their price target on shares of Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a research note on Friday, November 15th. Bank of America upped their price objective on Bloom Energy from $7.00 to $20.00 and gave the stock an “underperform” rating in a research note on Monday, December 9th. Piper Sandler lifted their target price on Bloom Energy from $20.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, UBS Group raised their price objective on Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.45.

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.