Proficio Capital Partners LLC Acquires Shares of 35,447 Bloom Energy Co. (NYSE:BE)

Proficio Capital Partners LLC acquired a new stake in shares of Bloom Energy Co. (NYSE:BE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,447 shares of the company’s stock, valued at approximately $787,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Millburn Ridgefield Corp grew its stake in shares of Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after buying an additional 528 shares during the last quarter. Mainstream Capital Management LLC bought a new position in shares of Bloom Energy during the fourth quarter valued at approximately $28,000. Smartleaf Asset Management LLC grew its stake in shares of Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after buying an additional 934 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after buying an additional 812 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Bloom Energy during the third quarter valued at approximately $34,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bloom Energy

In other news, insider Satish Chitoori sold 1,020 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the completion of the sale, the insider now owns 178,656 shares in the company, valued at approximately $4,482,479.04. This represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,639 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the sale, the insider now owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.81% of the company’s stock.

Bloom Energy Stock Down 5.9 %

Shares of NYSE BE opened at $23.90 on Friday. 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 capitalization of $5.51 billion, a PE ratio of -42.68 and a beta of 3.30. The stock’s fifty day simple moving average is $24.10 and its two-hundred day simple moving average is $19.36. Bloom Energy Co. has a 12-month low of $9.02 and a 12-month high of $29.83.

Analyst Ratings Changes

A number of research analysts have recently commented on BE shares. Truist Financial upped their target price on Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Roth Mkm initiated coverage on Bloom Energy in a research note on Wednesday, December 11th. They set a “neutral” rating and a $25.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Morgan Stanley increased their price objective on Bloom Energy from $28.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Piper Sandler dropped their price objective on Bloom Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.06.

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.