GSA Capital Partners LLP Takes Position in Bloom Energy Co. (NYSE:BE)

GSA Capital Partners LLP bought a new position in shares of Bloom Energy Co. (NYSE:BE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 25,400 shares of the company’s stock, valued at approximately $268,000.

Other large investors have also bought and sold shares of the company. Xponance Inc. increased its position in shares of Bloom Energy by 7.8% during the 2nd quarter. Xponance Inc. now owns 12,542 shares of the company’s stock valued at $154,000 after purchasing an additional 903 shares during the last quarter. Arizona State Retirement System raised its position in Bloom Energy by 2.7% in the second quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock worth $696,000 after acquiring an additional 1,470 shares during the period. Quest Partners LLC raised its position in Bloom Energy by 2,780.0% in the second quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after acquiring an additional 3,475 shares during the period. ORG Partners LLC purchased a new position in Bloom Energy in the second quarter valued at about $40,000. Finally, Gilliland Jeter Wealth Management LLC increased its stake in shares of Bloom Energy by 97.7% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 8,500 shares of the company’s stock worth $90,000 after purchasing an additional 4,200 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Stock Performance

NYSE BE opened at $25.76 on Friday. The stock has a fifty day simple moving average of $12.22 and a 200-day simple moving average of $12.71. The stock has a market cap of $5.89 billion, a PE ratio of -46.01 and a beta of 2.71. Bloom Energy Co. has a twelve month low of $8.41 and a twelve month high of $26.26. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09.

Analyst Ratings Changes

BE has been the subject of several recent research reports. Royal Bank of Canada lifted their price objective on Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. BMO Capital Markets boosted their price target on shares of Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a research report on Friday, November 15th. Susquehanna raised their price objective on shares of Bloom Energy from $13.00 to $16.00 and gave the stock a “positive” rating in a report on Tuesday, November 12th. Robert W. Baird lowered their target price on shares of Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Finally, Piper Sandler raised their price target on Bloom Energy from $20.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $18.66.

Insider Activity at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 72,903 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total value of $1,824,033.06. Following the transaction, the chief executive officer now directly owns 1,869,593 shares in the company, valued at $46,777,216.86. This represents a 3.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shawn Marie Soderberg sold 1,289 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $24.56, for a total value of $31,657.84. Following the transaction, the insider now directly owns 168,561 shares in the company, valued at approximately $4,139,858.16. The trade was a 0.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 122,975 shares of company stock worth $3,045,019. Corporate insiders own 8.81% 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.