Teacher Retirement System of Texas Invests $214,000 in Bloom Energy Co. (NYSE:BE)

Teacher Retirement System of Texas purchased a new stake in Bloom Energy Co. (NYSE:BE) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 9,643 shares of the company’s stock, valued at approximately $214,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Elemental Capital Partners LLC acquired a new stake in shares of Bloom Energy in the 4th quarter valued at $33,612,000. Trivest Advisors Ltd acquired a new stake in Bloom Energy in the fourth quarter valued at about $30,539,000. Raymond James Financial Inc. bought a new position in Bloom Energy in the fourth quarter valued at about $19,629,000. Bank of New York Mellon Corp grew its position in Bloom Energy by 68.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,026,488 shares of the company’s stock valued at $22,798,000 after acquiring an additional 417,120 shares during the last quarter. Finally, Temasek Holdings Private Ltd acquired a new position in Bloom Energy during the third quarter worth about $3,249,000. Institutional investors own 77.04% of the company’s stock.

Insider Buying and Selling

In related news, insider Satish Chitoori sold 1,020 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the transaction, the insider now owns 178,656 shares in the company, valued at $4,482,479.04. The trade was a 0.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shawn Marie Soderberg sold 1,639 shares of the stock in a transaction 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 transaction, the insider now directly owns 171,040 shares in the company, valued at approximately $4,005,756.80. This represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.81% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on BE. Mizuho began coverage on shares of Bloom Energy in a report on Tuesday, March 18th. They set a “neutral” rating and a $28.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on shares of Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. BMO Capital Markets reiterated a “market perform” rating on shares of Bloom Energy in a research note on Friday, February 28th. Roth Capital upgraded Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. Finally, Roth Mkm initiated coverage on Bloom Energy in a research report on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 target price for the company. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Bloom Energy has an average rating of “Hold” and a consensus price target of $25.06.

Bloom Energy Stock Down 0.4 %

Bloom Energy stock opened at $21.16 on Thursday. The firm has a 50 day moving average price of $23.74 and a two-hundred day moving average price of $19.99. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. Bloom Energy Co. has a 52-week low of $9.02 and a 52-week high of $29.83. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of -37.79 and a beta of 3.30.

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.