ExodusPoint Capital Management LP Trims Holdings in Bloom Energy Co. (NYSE:BE)

ExodusPoint Capital Management LP cut its position in shares of Bloom Energy Co. (NYSE:BE) by 70.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 142,781 shares of the company’s stock after selling 336,094 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Bloom Energy were worth $3,171,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Bloom Energy during the fourth quarter worth approximately $93,951,000. Elemental Capital Partners LLC purchased a new position in shares of Bloom Energy during the 4th quarter worth $33,612,000. Trivest Advisors Ltd acquired a new stake in shares of Bloom Energy during the fourth quarter worth $30,539,000. Wellington Management Group LLP grew its position in shares of Bloom Energy by 306.3% in the fourth quarter. Wellington Management Group LLP now owns 1,383,897 shares of the company’s stock valued at $30,736,000 after purchasing an additional 1,043,326 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Bloom Energy during the fourth quarter worth about $19,629,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Trading Up 3.7 %

BE opened at $17.22 on Tuesday. The firm has a market capitalization of $3.97 billion, a P/E ratio of -30.75 and a beta of 3.27. The firm’s 50 day moving average is $23.21 and its 200-day moving average is $20.22. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. Bloom Energy Co. has a 52-week low of $9.02 and a 52-week high of $29.83.

Analysts Set New Price Targets

Several analysts have commented on BE shares. BTIG Research lifted their price target on Bloom Energy from $20.00 to $30.00 and gave the company a “buy” rating in a report on Monday, December 16th. Roth Mkm began coverage on shares of Bloom Energy in a report on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 target price for the company. BMO Capital Markets reaffirmed a “market perform” rating on shares of Bloom Energy in a research note on Friday, February 28th. TD Cowen boosted their price objective on shares of Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, February 28th. Finally, Royal Bank of Canada restated an “outperform” rating on shares of Bloom Energy in a report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $25.06.

Insider Buying and Selling

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Satish Chitoori sold 1,020 shares of the company’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 completion of the sale, the insider now directly owns 178,656 shares in the company, valued at $4,482,479.04. This represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.81% of the stock is currently owned by insiders.

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.