Napean Trading & Investment Co Singapore PTE Ltd Acquires 41,631 Shares of Bloom Energy Co. (NYSE:BE)

Napean Trading & Investment Co Singapore PTE Ltd lifted its holdings in shares of Bloom Energy Co. (NYSE:BE) by 11.5% in the 4th quarter, HoldingsChannel reports. The fund owned 402,688 shares of the company’s stock after purchasing an additional 41,631 shares during the period. Bloom Energy makes up approximately 2.2% of Napean Trading & Investment Co Singapore PTE Ltd’s investment portfolio, making the stock its 18th biggest holding. Napean Trading & Investment Co Singapore PTE Ltd’s holdings in Bloom Energy were worth $8,944,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings 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 purchasing an additional 356,317 shares in the last quarter. JAT Capital Mgmt LP boosted 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 last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 buying an additional 10,265 shares in the last quarter. Elemental Capital Partners LLC purchased a new stake in Bloom Energy in the 4th quarter valued at $33,612,000. Finally, Trivest Advisors Ltd bought a new position in Bloom Energy during the 4th quarter valued at $30,539,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Stock Down 5.9 %

Shares of NYSE BE opened at $23.90 on Monday. The business has a 50-day simple moving average of $24.10 and a two-hundred day simple moving average of $19.42. Bloom Energy Co. has a 52 week low of $9.02 and a 52 week high of $29.83. The company has a market cap of $5.51 billion, a P/E 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.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BE shares. Robert W. Baird increased their target price on shares of Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. BMO Capital Markets reiterated a “market perform” rating on shares of Bloom Energy in a research note on Friday, February 28th. TD Cowen boosted their target price on Bloom Energy from $13.00 to $20.00 and gave the stock a “hold” rating in a research note on Friday, February 28th. Truist Financial increased their price target on Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Finally, UBS Group boosted their price objective on Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $25.06.

Insider Activity at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. The trade was a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Satish Chitoori sold 1,020 shares of the company’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 transaction of $25,591.80. Following the completion of the transaction, the insider now owns 178,656 shares in the company, valued at approximately $4,482,479.04. This trade 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 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.