State of New Jersey Common Pension Fund D Has $1.77 Million Holdings in Bloom Energy Co. (NYSE:BE)

State of New Jersey Common Pension Fund D grew its position in Bloom Energy Co. (NYSE:BE) by 39.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 167,108 shares of the company’s stock after acquiring an additional 47,272 shares during the period. State of New Jersey Common Pension Fund D owned 0.07% of Bloom Energy worth $1,765,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of BE. Vanguard Group Inc. increased its position in Bloom Energy by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock valued at $221,262,000 after acquiring an additional 156,434 shares in the last quarter. Electron Capital Partners LLC raised its position in Bloom Energy by 131.5% in the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after purchasing an additional 1,790,733 shares during the last quarter. DigitalBridge Group Inc. raised its position in Bloom Energy by 66.3% in the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock worth $14,203,000 after purchasing an additional 462,581 shares during the last quarter. Pinnacle Associates Ltd. lifted its holdings in Bloom Energy by 48.6% during the 2nd quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company’s stock worth $10,644,000 after buying an additional 284,298 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in Bloom Energy by 64.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 830,405 shares of the company’s stock valued at $11,017,000 after buying an additional 325,814 shares during the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BE has been the topic of several research reports. Marathon Capitl raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Bank of America reduced their target price on shares of Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a research note on Thursday, November 7th. Morgan Stanley boosted their price target on shares of Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday. UBS Group reduced their price objective on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, Royal Bank of Canada increased their price target on Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Bloom Energy has a consensus rating of “Moderate Buy” and an average target price of $17.17.

Bloom Energy Trading Up 7.9 %

Shares of NYSE:BE opened at $22.81 on Tuesday. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of -42.09 and a beta of 2.71. Bloom Energy Co. has a 12 month low of $8.41 and a 12 month high of $24.92. The company’s fifty day simple moving average is $10.82 and its 200 day simple moving average is $12.28. The company has a quick ratio of 3.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09.

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.