Emerald Advisers LLC Acquires 345,308 Shares of Bloom Energy Co. (NYSE:BE)

Emerald Advisers LLC grew its holdings in shares of Bloom Energy Co. (NYSE:BE) by 1,471.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 368,779 shares of the company’s stock after purchasing an additional 345,308 shares during the period. Emerald Advisers LLC’s holdings in Bloom Energy were worth $8,191,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Bloom Energy by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company’s stock worth $427,194,000 after buying an additional 356,317 shares in the last quarter. JAT Capital Mgmt LP lifted its position in Bloom Energy by 50.0% during the 3rd quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock worth $23,221,000 after buying an additional 733,363 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position 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 worth $36,737,000 after buying an additional 10,265 shares in the last quarter. Elemental Capital Partners LLC bought a new stake in Bloom Energy during the 4th quarter worth about $33,612,000. Finally, Trivest Advisors Ltd bought a new stake in Bloom Energy during the 4th quarter worth about $30,539,000. 77.04% of the stock is owned by institutional investors.

Bloom Energy Stock Performance

Shares of NYSE:BE opened at $23.90 on Friday. The company’s 50 day moving average price is $24.10 and its two-hundred day moving average price is $19.36. Bloom Energy Co. has a 12-month low of $9.02 and a 12-month high of $29.83. The firm has a market cap of $5.51 billion, a PE ratio of -42.68 and a beta of 3.30. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09.

Wall Street Analyst Weigh In

BE has been the topic of a number of research analyst reports. Truist Financial upped their target price on shares of Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Roth Capital raised shares of Bloom Energy to a “hold” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. upped their target price on shares of Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Susquehanna upped their target price on shares of Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a report on Friday, December 6th. Finally, TD Cowen upped their target price on shares of Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Bloom Energy currently has a consensus rating of “Hold” and an average target price of $25.06.

Insiders Place Their Bets

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction of $38,385.38. Following the sale, the insider now owns 171,040 shares in the company, valued at approximately $4,005,756.80. This trade represents a 0.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Satish Chitoori sold 1,020 shares of the stock in a transaction that occurred 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 sale, the insider now owns 178,656 shares in the company, valued at $4,482,479.04. This represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.81% of the company’s stock.

Bloom Energy Company 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.