Edgestream Partners L.P. Takes Position in Bloom Energy Co. (NYSE:BE)

Edgestream Partners L.P. purchased a new stake in Bloom Energy Co. (NYSE:BE) in the third quarter, Holdings Channel reports. The firm purchased 310,047 shares of the company’s stock, valued at approximately $3,274,000.

A number of other large investors have also made changes to their positions in the stock. Xponance Inc. grew its position in Bloom Energy by 7.8% in the second quarter. Xponance Inc. now owns 12,542 shares of the company’s stock worth $154,000 after acquiring an additional 903 shares during the period. Arizona State Retirement System grew its position in Bloom Energy by 2.7% in the second quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock worth $696,000 after acquiring an additional 1,470 shares during the period. Quest Partners LLC grew its position in Bloom Energy by 2,780.0% in the second quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after acquiring an additional 3,475 shares during the period. ORG Partners LLC purchased a new position in Bloom Energy in the second quarter worth approximately $40,000. Finally, Gilliland Jeter Wealth Management LLC grew its position in Bloom Energy by 97.7% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 8,500 shares of the company’s stock worth $90,000 after acquiring an additional 4,200 shares during the period. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BE. Robert W. Baird lowered their price target on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Susquehanna raised their price target on Bloom Energy from $13.00 to $16.00 and gave the stock a “positive” rating in a research report on Tuesday, November 12th. Truist Financial lowered their price target on Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, October 16th. Morgan Stanley raised their price target on Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Finally, Hsbc Global Res upgraded Bloom Energy to a “hold” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Bloom Energy has an average rating of “Hold” and a consensus target price of $19.14.

Bloom Energy Stock Up 0.9 %

Bloom Energy stock opened at $27.45 on Monday. The company has a market capitalization of $6.27 billion, a P/E ratio of -49.02 and a beta of 2.71. Bloom Energy Co. has a fifty-two week low of $8.41 and a fifty-two week high of $28.70. The stock has a 50-day simple moving average of $13.88 and a 200-day simple moving average of $13.24. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

Insider Activity at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 72,903 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the transaction, the chief executive officer now owns 1,869,593 shares in the company, valued at approximately $46,777,216.86. The trade was a 3.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Shawn Marie Soderberg sold 1,289 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $24.56, for a total value of $31,657.84. Following the transaction, the insider now owns 168,561 shares in the company, valued at $4,139,858.16. The trade was a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,975 shares of company stock worth $3,045,019 in the last quarter. Company 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.