Chesapeake Capital Corp IL Purchases New Position in Bloom Energy Co. (NYSE:BE)

Chesapeake Capital Corp IL purchased a new stake in shares of Bloom Energy Co. (NYSE:BE) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 9,907 shares of the company’s stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. JAT Capital Mgmt LP increased its position in shares of 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. boosted its stake in Bloom Energy by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company’s stock worth $36,737,000 after acquiring an additional 10,265 shares in the last quarter. Elemental Capital Partners LLC bought a new stake in Bloom Energy during the fourth quarter worth about $33,612,000. Bank of New York Mellon Corp boosted its stake in Bloom Energy by 68.5% during 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 acquiring an additional 417,120 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Bloom Energy during the fourth quarter worth about $19,629,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Bloom Energy Stock Down 1.3 %

Shares of BE stock opened at $23.88 on Wednesday. Bloom Energy Co. has a 12 month low of $9.02 and a 12 month high of $29.83. The stock has a market cap of $5.50 billion, a P/E ratio of -42.64 and a beta of 3.30. 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 company has a 50 day simple moving average of $24.08 and a two-hundred day simple moving average of $19.14.

Analyst Ratings Changes

Several research firms recently commented on BE. Bank of America dropped their price objective on shares of Bloom Energy from $20.00 to $18.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. Robert W. Baird boosted their price objective on shares of Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Truist Financial boosted their price objective on shares of Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Roth Mkm began coverage on shares of Bloom Energy in a research note on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 target price on the stock. Finally, UBS Group upped their target price on shares of Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, eleven have assigned 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, the company has an average rating of “Hold” and a consensus price target of $24.67.

Insider Buying and Selling at Bloom Energy

In other news, insider Satish Chitoori sold 1,020 shares of the stock in a transaction on Monday, March 17th. The shares were 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 represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 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 trade 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 corporate 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.