Strategic Financial Concepts LLC Acquires Shares of 22,268 Bloom Energy Co. (NYSE:BE)

Strategic Financial Concepts LLC bought a new stake in shares of Bloom Energy Co. (NYSE:BE) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 22,268 shares of the company’s stock, valued at approximately $495,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Millburn Ridgefield Corp grew its stake in shares of Bloom Energy by 29.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after buying an additional 528 shares in the last quarter. GAMMA Investing LLC grew its position in Bloom Energy by 26.8% in the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after acquiring an additional 569 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Bloom Energy by 2.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 47,400 shares of the company’s stock worth $1,053,000 after purchasing an additional 1,000 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its stake in shares of Bloom Energy by 3.9% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company’s stock valued at $374,000 after purchasing an additional 1,349 shares during the last quarter. Finally, Avior Wealth Management LLC acquired a new stake in shares of Bloom Energy in the 4th quarter valued at $40,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Kr Sridhar sold 46,697 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the completion of the transaction, the chief executive officer now owns 1,822,496 shares in the company, valued at $45,562,400. This trade represents a 2.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shawn Marie Soderberg sold 1,289 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the completion of the sale, the insider now directly owns 168,561 shares in the company, valued at approximately $4,139,858.16. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,528 shares of company stock worth $3,061,501 over the last 90 days. Corporate insiders own 8.81% of the company’s stock.

Bloom Energy Stock Performance

BE opened at $23.47 on Thursday. The stock’s 50 day simple moving average is $24.20 and its 200-day simple moving average is $17.02. 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 market cap of $5.36 billion, a PE ratio of -41.91 and a beta of 3.06. Bloom Energy Co. has a 1 year low of $8.41 and a 1 year high of $29.83.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Roth Capital upgraded Bloom Energy to a “hold” rating in a report on Tuesday, December 10th. Roth Mkm began coverage on Bloom Energy in a research note on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Susquehanna lifted their price target on shares of Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a research report on Friday, December 6th. Finally, UBS Group upped their price objective on shares of Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $23.72.

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.