Commonwealth Equity Services LLC Decreases Stock Position in Bloom Energy Co. (NYSE:BE)

Commonwealth Equity Services LLC trimmed its stake in shares of Bloom Energy Co. (NYSE:BE) by 7.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,883 shares of the company’s stock after selling 3,200 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Bloom Energy were worth $841,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Millburn Ridgefield Corp grew its position in shares of Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after buying an additional 528 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Bloom Energy by 26.8% in 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 in the last quarter. Arizona State Retirement System lifted its position in shares of Bloom Energy by 1.3% during the 4th 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 during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after purchasing an additional 812 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Bloom Energy by 291.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after buying an additional 934 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Insider Activity

In other Bloom Energy news, 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 value of $38,385.38. Following the completion of the transaction, the insider now 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction, the insider now directly owns 178,656 shares in the company, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.81% of the company’s stock.

Bloom Energy Price Performance

Shares of NYSE BE opened at $21.16 on Thursday. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The company has a market cap of $4.88 billion, a PE ratio of -37.79 and a beta of 3.30. The stock has a fifty day moving average price of $23.74 and a 200 day moving average price of $19.99. Bloom Energy Co. has a 1-year low of $9.02 and a 1-year high of $29.83.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BE. TD Cowen upped their price objective on Bloom Energy from $13.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, February 28th. Piper Sandler lowered their price target on Bloom Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a report on Friday, February 28th. BTIG Research boosted their price objective on shares of Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Robert W. Baird upped their target price on shares of Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Finally, Susquehanna boosted their price target on shares of Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $25.06.

Bloom Energy 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.