Summit Wealth & Retirement Planning Inc. bought a new position in Bloom Energy Corp (NYSE:BE) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 35,874 shares of the company’s stock, valued at approximately $463,000.
Several other hedge funds have also recently modified their holdings of BE. NumerixS Investment Technologies Inc acquired a new stake in Bloom Energy during the fourth quarter worth about $40,000. US Bancorp DE grew its holdings in Bloom Energy by 290.9% during the first quarter. US Bancorp DE now owns 3,655 shares of the company’s stock worth $47,000 after acquiring an additional 2,720 shares during the period. Barclays PLC grew its holdings in Bloom Energy by 4,865.0% during the fourth quarter. Barclays PLC now owns 4,965 shares of the company’s stock worth $50,000 after acquiring an additional 4,865 shares during the period. Cerity Partners LLC acquired a new stake in Bloom Energy during the fourth quarter worth about $113,000. Finally, Elgethun Capital Management acquired a new stake in Bloom Energy during the first quarter worth about $137,000. Institutional investors and hedge funds own 20.80% of the company’s stock.
Several analysts recently commented on the company. Raymond James set a $13.00 target price on Bloom Energy and gave the stock a “buy” rating in a report on Thursday, March 7th. ValuEngine raised Bloom Energy from a “hold” rating to a “buy” rating in a report on Saturday, March 9th. Zacks Investment Research raised Bloom Energy from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Monday, May 13th. Finally, Credit Suisse Group raised Bloom Energy from a “neutral” rating to an “outperform” rating and set a $10.06 target price on the stock in a report on Wednesday, February 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. Bloom Energy presently has a consensus rating of “Buy” and an average target price of $20.90.
In other news, CEO Kr Sridhar bought 8,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were acquired at an average price of $13.52 per share, for a total transaction of $108,160.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Susan Seilheimer Brennan sold 23,881 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $11.96, for a total value of $285,616.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 726,928 shares of company stock worth $9,783,815. 36.45% of the stock is owned by corporate insiders.
BE traded down $0.28 during trading on Wednesday, hitting $12.00. The company’s stock had a trading volume of 4,003 shares, compared to its average volume of 1,182,679. The company has a current ratio of 2.32, a quick ratio of 1.93 and a debt-to-equity ratio of 10.34. Bloom Energy Corp has a twelve month low of $8.88 and a twelve month high of $38.00. The firm has a market cap of $1.35 billion and a P/E ratio of -4.93.
Bloom Energy Profile
Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems for on-site power generation. The company offers Bloom Energy Server, a stationary power generation platform that converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion.
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