AlphaQuest LLC Lowers Stock Position in Bloom Energy Co. (NYSE:BE)

AlphaQuest LLC lowered its position in Bloom Energy Co. (NYSE:BE) by 89.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,355 shares of the company’s stock after selling 19,001 shares during the period. AlphaQuest LLC’s holdings in Bloom Energy were worth $52,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Duff & Phelps Investment Management Co. bought a new position in shares of Bloom Energy in the third quarter valued at approximately $517,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Bloom Energy by 184.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 404,204 shares of the company’s stock valued at $9,209,000 after acquiring an additional 262,247 shares during the period. Edgestream Partners L.P. bought a new position in shares of Bloom Energy in the third quarter valued at approximately $3,274,000. Charles Schwab Investment Management Inc. boosted its position in shares of Bloom Energy by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company’s stock valued at $36,737,000 after acquiring an additional 10,265 shares during the period. Finally, Bailard Inc. bought a new position in shares of Bloom Energy in the fourth quarter valued at approximately $1,278,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Bloom Energy Trading Up 4.7 %

Shares of Bloom Energy stock opened at $25.46 on Friday. The company has a fifty day simple moving average of $24.10 and a 200-day simple moving average of $19.22. Bloom Energy Co. has a 12-month low of $9.02 and a 12-month high of $29.83. 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 $5.87 billion, a price-to-earnings ratio of -45.46 and a beta of 3.30.

Insider Activity

In other news, insider Satish Chitoori sold 1,020 shares of the stock in a transaction dated Monday, March 17th. The shares were 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 owns 178,656 shares in the company, valued at $4,482,479.04. This trade represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,639 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction of $38,385.38. Following the transaction, the insider now owns 171,040 shares of the company’s stock, valued at $4,005,756.80. This trade represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BE shares. BTIG Research raised their target price on shares of Bloom Energy from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, December 16th. UBS Group raised their target price on shares of Bloom Energy from $21.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Jefferies Financial Group raised their target price on shares of Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, November 22nd. Piper Sandler lowered their target price on shares of Bloom Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Finally, Bank of America lowered their target price on shares of Bloom Energy from $20.00 to $18.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $25.06.

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.