Bank of New York Mellon Corp Increases Stock Holdings in Bloom Energy Co. (NYSE:BE)

Bank of New York Mellon Corp raised its position in shares of Bloom Energy Co. (NYSE:BE) by 68.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,026,488 shares of the company’s stock after purchasing an additional 417,120 shares during the quarter. Bank of New York Mellon Corp owned 0.45% of Bloom Energy worth $22,798,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Millburn Ridgefield Corp grew its stake in Bloom Energy by 29.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after purchasing an additional 528 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Bloom Energy during the 3rd quarter valued at about $34,000. Avior Wealth Management LLC purchased a new stake in Bloom Energy during the 4th quarter valued at about $40,000. GAMMA Investing LLC grew its stake in Bloom Energy by 26.8% during the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock valued at $60,000 after purchasing an additional 569 shares during the last quarter. Finally, IFP Advisors Inc grew its stake in Bloom Energy by 130.2% during the 4th quarter. IFP Advisors Inc now owns 3,914 shares of the company’s stock valued at $87,000 after purchasing an additional 2,214 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the transaction, the insider now owns 171,040 shares of the company’s stock, valued at $4,005,756.80. This represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BE shares. Piper Sandler decreased their price objective on Bloom Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Hsbc Global Res raised Bloom Energy to a “hold” rating in a report on Wednesday, November 20th. Roth Capital raised Bloom Energy to a “hold” rating in a report on Tuesday, December 10th. BTIG Research boosted their price objective on Bloom Energy from $20.00 to $30.00 and gave the company a “buy” rating in a report on Monday, December 16th. Finally, BMO Capital Markets boosted their price objective on Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $24.47.

Bloom Energy Price Performance

Shares of Bloom Energy stock opened at $23.12 on Monday. The business has a 50 day simple moving average of $24.01 and a two-hundred day simple moving average of $18.53. Bloom Energy Co. has a 12 month low of $8.82 and a 12 month high of $29.83. The stock has a market capitalization of $5.28 billion, a P/E ratio of -41.28 and a beta of 3.30. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.

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.