ExodusPoint Capital Management LP Reduces Stake in Bloom Energy Co. (NYSE:BE)

ExodusPoint Capital Management LP lowered its stake in shares of Bloom Energy Co. (NYSE:BE) by 70.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 142,781 shares of the company’s stock after selling 336,094 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.06% of Bloom Energy worth $3,171,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Bloom Energy by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company’s stock valued at $427,194,000 after purchasing an additional 356,317 shares during the last quarter. Norges Bank purchased a new stake in Bloom Energy in the fourth quarter valued at approximately $93,951,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Bloom Energy by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company’s stock valued at $36,737,000 after acquiring an additional 10,265 shares during the period. Elemental Capital Partners LLC purchased a new position in shares of Bloom Energy during the fourth quarter worth approximately $33,612,000. Finally, Wellington Management Group LLP increased its holdings in shares of Bloom Energy by 306.3% in the 4th quarter. Wellington Management Group LLP now owns 1,383,897 shares of the company’s stock valued at $30,736,000 after acquiring an additional 1,043,326 shares during the period. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Bloom Energy Trading Up 3.7 %

Shares of BE opened at $17.22 on Tuesday. The firm’s 50-day moving average is $23.21 and its two-hundred day moving average is $20.22. Bloom Energy Co. has a twelve month low of $9.02 and a twelve month high of $29.83. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The firm has a market capitalization of $3.97 billion, a P/E ratio of -30.75 and a beta of 3.27.

Wall Street Analyst Weigh In

BE has been the subject of a number of recent research reports. Piper Sandler decreased their price target on shares of Bloom Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Bank of America decreased their target price on shares of Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Roth Capital raised Bloom Energy to a “hold” rating in a research note on Tuesday, December 10th. Robert W. Baird increased their price objective on Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Finally, Royal Bank of Canada reissued an “outperform” rating on shares of Bloom Energy in a report on Tuesday, April 1st. One 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $25.06.

Insider Buying and Selling

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the sale, the insider now directly owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. This represents a 0.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the transaction, the insider now owns 178,656 shares of the company’s stock, valued at approximately $4,482,479.04. The trade was 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.

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.