Corient Private Wealth LLC Sells 1,672 Shares of Bloom Energy Co. (NYSE:BE)

Corient Private Wealth LLC lowered its stake in shares of Bloom Energy Co. (NYSE:BE) by 14.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,835 shares of the company’s stock after selling 1,672 shares during the quarter. Corient Private Wealth LLC’s holdings in Bloom Energy were worth $218,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BE. Millburn Ridgefield Corp lifted its stake in shares of Bloom Energy by 29.2% in 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 period. GAMMA Investing LLC grew its stake in Bloom Energy by 26.8% during the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after buying an additional 569 shares during the last quarter. Arizona State Retirement System boosted its stake in Bloom Energy by 1.3% in the fourth quarter. Arizona State Retirement System now owns 59,592 shares of the company’s stock worth $1,324,000 after purchasing an additional 759 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Bloom Energy by 120.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after acquiring an additional 812 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in Bloom Energy by 291.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after purchasing an additional 934 shares during the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Satish Chitoori sold 1,020 shares of the company’s 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 directly owns 178,656 shares in the company, valued at $4,482,479.04. This represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $23.42, for a total value of $38,385.38. Following the transaction, the insider now directly owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. The trade was a 0.95 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is currently owned by corporate insiders.

Bloom Energy Trading Up 8.2 %

BE stock opened at $21.27 on Wednesday. Bloom Energy Co. has a 52 week low of $9.02 and a 52 week high of $29.83. The company’s 50-day simple moving average is $23.83 and its 200 day simple moving average is $19.98. The company has a market capitalization of $4.90 billion, a PE ratio of -37.98 and a beta of 3.30. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BE shares. Bank of America cut 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 report on Tuesday, January 28th. JPMorgan Chase & Co. lifted their price target on shares of Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Roth Mkm initiated coverage on Bloom Energy in a report on Wednesday, December 11th. They set a “neutral” rating and a $25.00 price objective for the company. Mizuho started coverage on shares of Bloom Energy in a research report on Tuesday, March 18th. They set a “neutral” rating and a $28.00 price target on the stock. Finally, Truist Financial increased their price objective on Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company 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.