Proficio Capital Partners LLC Acquires New Stake in Bloom Energy Co. (NYSE:BE)

Proficio Capital Partners LLC acquired a new stake in Bloom Energy Co. (NYSE:BE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 35,447 shares of the company’s stock, valued at approximately $787,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Central Asset Investments & Management Holdings HK Ltd acquired a new position in shares of Bloom Energy during the 4th quarter worth about $1,326,000. Los Angeles Capital Management LLC acquired a new position in shares of Bloom Energy during the 4th quarter worth about $637,000. Bank of New York Mellon Corp boosted its position in shares of Bloom Energy by 68.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,026,488 shares of the company’s stock worth $22,798,000 after acquiring an additional 417,120 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Bloom Energy by 130.2% in the 4th quarter. IFP Advisors Inc now owns 3,914 shares of the company’s stock valued at $87,000 after purchasing an additional 2,214 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Bloom Energy in the 4th quarter valued at about $823,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Marathon Capitl raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. TD Cowen upped their target price on Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, February 28th. Susquehanna upped their target price on Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a research report on Friday, December 6th. Finally, HSBC cut Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 target price for the company. in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Bloom Energy has an average rating of “Hold” and an average target price of $24.47.

Bloom Energy Trading Up 3.3 %

NYSE:BE opened at $23.12 on Friday. The business’s 50-day moving average is $24.01 and its two-hundred day moving average is $18.48. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. Bloom Energy Co. has a 12 month low of $8.82 and a 12 month high of $29.83. The firm has a market capitalization of $5.28 billion, a PE ratio of -41.28 and a beta of 3.30.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total value 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. The trade was a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.50% of the company’s stock.

Bloom Energy Company 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.