18,810 Shares in Bloom Energy Co. (NYSE:BE) Purchased by Cibc World Markets Corp

Cibc World Markets Corp acquired a new stake in shares of Bloom Energy Co. (NYSE:BE) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 18,810 shares of the company’s stock, valued at approximately $418,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JAT Capital Mgmt LP raised its position in Bloom Energy by 50.0% during the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock valued at $23,221,000 after buying an additional 733,363 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Bloom Energy by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company’s stock valued at $36,737,000 after acquiring an additional 10,265 shares in the last quarter. Elemental Capital Partners LLC acquired a new position in shares of Bloom Energy in the 4th quarter valued at about $33,612,000. Bank of New York Mellon Corp lifted its position in shares of 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 worth $22,798,000 after purchasing an additional 417,120 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Bloom Energy during the fourth quarter worth approximately $19,629,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other 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 value of $38,385.38. Following the completion of the sale, the insider now directly owns 171,040 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Satish Chitoori sold 1,020 shares of the business’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 $4,482,479.04. This trade represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is currently owned by company insiders.

Bloom Energy Stock Performance

Shares of BE opened at $23.90 on Monday. The company has a market capitalization of $5.51 billion, a PE ratio of -42.68 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 Co. has a one year low of $9.02 and a one year high of $29.83. The company’s fifty day moving average price is $24.10 and its 200 day moving average price is $19.42.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BE. Morgan Stanley increased their target price on shares of Bloom Energy from $28.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday. Bank of America cut their price objective on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a report on Tuesday, January 28th. TD Cowen lifted their price objective on Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, February 28th. Piper Sandler dropped their target price on Bloom Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Finally, Truist Financial lifted their price target on Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company 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.