Pictet Asset Management Holding SA Purchases 18,603 Shares of Bloom Energy Co. (NYSE:BE)

Pictet Asset Management Holding SA grew its holdings in Bloom Energy Co. (NYSE:BE) by 21.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 106,019 shares of the company’s stock after purchasing an additional 18,603 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Bloom Energy were worth $2,355,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of BE. Mainstream Capital Management LLC acquired a new position in Bloom Energy in the fourth quarter valued at about $28,000. Smartleaf Asset Management LLC increased its stake in shares of Bloom Energy by 291.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after acquiring an additional 934 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Bloom Energy by 120.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after acquiring an additional 812 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Bloom Energy during the 3rd quarter worth approximately $34,000. Finally, Avior Wealth Management LLC acquired a new position in Bloom Energy during the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BE. Robert W. Baird lifted their price target on shares of Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. TD Cowen raised their price objective on Bloom Energy from $13.00 to $20.00 and gave the stock a “hold” rating in a research note on Friday, February 28th. Susquehanna boosted their target price on Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a research note on Friday, December 6th. Morgan Stanley raised their price target on Bloom Energy from $28.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Finally, JPMorgan Chase & Co. boosted their price objective on Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bloom Energy currently has an average rating of “Hold” and a consensus target price of $25.06.

Bloom Energy Price Performance

NYSE:BE opened at $16.65 on Friday. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The firm has a fifty day simple moving average of $23.31 and a 200 day simple moving average of $20.03. Bloom Energy Co. has a 1-year low of $9.02 and a 1-year high of $29.83. The stock has a market capitalization of $3.84 billion, a PE ratio of -29.73 and a beta of 3.27.

Insider Activity

In other news, insider Satish Chitoori sold 1,020 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the sale, the insider now directly owns 178,656 shares of the company’s stock, valued at $4,482,479.04. This trade represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Shawn Marie Soderberg sold 1,639 shares of the business’s 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 transaction, the insider now directly owns 171,040 shares in the company, valued at $4,005,756.80. The trade was a 0.95 % 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.

About Bloom Energy

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.