Cibc World Markets Corp Takes $418,000 Position in Bloom Energy Co. (NYSE:BE)

Cibc World Markets Corp bought a new position in Bloom Energy Co. (NYSE:BE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 18,810 shares of the company’s stock, valued at approximately $418,000.

Several other large investors have also made changes to their positions in the company. Millburn Ridgefield Corp grew its stake in shares of Bloom Energy by 29.2% in the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after buying an additional 528 shares in the last quarter. Mainstream Capital Management LLC acquired a new stake in Bloom Energy during the 4th quarter valued at $28,000. Smartleaf Asset Management LLC increased its stake in Bloom Energy by 291.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after buying an additional 934 shares during the period. Jones Financial Companies Lllp lifted its holdings in Bloom Energy by 120.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after buying an additional 812 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Bloom Energy in the 3rd quarter valued at about $34,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Bloom Energy Stock Performance

Shares of BE opened at $23.90 on Monday. Bloom Energy Co. has a 52-week low of $9.02 and a 52-week high of $29.83. The firm has a market capitalization of $5.51 billion, a PE ratio of -42.68 and a beta of 3.30. The firm has a 50-day moving average price of $24.10 and a 200 day moving average price of $19.42. 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 Analysts Forecast Growth

A number of analysts recently issued reports on the stock. BTIG Research lifted their price target on shares of Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Roth Mkm initiated coverage on shares of Bloom Energy in a research report on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 target price for the company. BMO Capital Markets reiterated a “market perform” rating on shares of Bloom Energy in a research note on Friday, February 28th. Morgan Stanley upped their price objective on Bloom Energy from $28.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Piper Sandler decreased their target price on Bloom Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $25.06.

Insider Activity

In other news, insider Shawn Marie Soderberg sold 1,639 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were 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 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 document filed with the SEC, which is accessible through this link. Also, insider Satish Chitoori sold 1,020 shares of Bloom Energy 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 directly 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. 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.