Pictet Asset Management Holding SA Has $2.36 Million Stock Position in Bloom Energy Co. (NYSE:BE)

Pictet Asset Management Holding SA lifted its holdings in Bloom Energy Co. (NYSE:BE) by 21.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 106,019 shares of the company’s stock after purchasing an additional 18,603 shares during the period. Pictet Asset Management Holding SA’s holdings in Bloom Energy were worth $2,355,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BE. Mainstream Capital Management LLC bought a new position in shares of Bloom Energy in the fourth quarter valued at approximately $28,000. Smartleaf Asset Management LLC boosted its holdings in shares of 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 grew its stake in Bloom Energy by 120.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after buying an additional 812 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Bloom Energy in the 3rd quarter worth $34,000. Finally, Avior Wealth Management LLC acquired a new position in Bloom Energy during the 4th quarter worth $40,000. 77.04% of the stock is currently owned by institutional investors.

Insider Activity at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 171,040 shares of the company’s stock, valued at $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 available at this hyperlink. Also, insider Satish Chitoori sold 1,020 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the transaction, the insider now directly owns 178,656 shares in the company, valued at approximately $4,482,479.04. This represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BE shares. BMO Capital Markets reiterated a “market perform” rating on shares of Bloom Energy in a research note on Friday, February 28th. Roth Mkm began coverage on Bloom Energy in a research report on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Truist Financial boosted their target price on shares of Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Finally, Morgan Stanley increased their price target on shares of Bloom Energy from $28.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $25.06.

Bloom Energy Stock Performance

Bloom Energy stock opened at $16.65 on Friday. Bloom Energy Co. has a 52-week low of $9.02 and a 52-week high of $29.83. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The stock has a fifty day moving average price of $23.31 and a two-hundred day moving average price of $20.03. The firm has a market capitalization of $3.84 billion, a P/E ratio of -29.73 and a beta of 3.27.

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.