Bloom Energy Co. (NYSE:BE) Stake Decreased by Geode Capital Management LLC

Geode Capital Management LLC lessened its holdings in shares of Bloom Energy Co. (NYSE:BE) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,540,118 shares of the company’s stock after selling 62,316 shares during the period. Geode Capital Management LLC owned 1.99% of Bloom Energy worth $100,859,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Kovitz Investment Group Partners LLC grew its position in Bloom Energy by 3.9% in the third quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company’s stock worth $374,000 after buying an additional 1,349 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Bloom Energy during the 3rd quarter worth approximately $34,000. Peapack Gladstone Financial Corp grew its position in Bloom Energy by 4.4% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 271,924 shares of the company’s stock worth $2,871,000 after purchasing an additional 11,525 shares in the last quarter. Franklin Resources Inc. grew its position in Bloom Energy by 62.4% during the 3rd quarter. Franklin Resources Inc. now owns 125,598 shares of the company’s stock worth $1,314,000 after purchasing an additional 48,258 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its position in Bloom Energy by 21.8% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 21,404 shares of the company’s stock worth $226,000 after purchasing an additional 3,824 shares in the last quarter. Institutional investors own 77.04% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on BE. JPMorgan Chase & Co. lifted their price objective on shares of Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Bank of America lowered their price target on shares of Bloom Energy from $20.00 to $18.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. Piper Sandler lowered their price target on shares of Bloom Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Mizuho began coverage on shares of Bloom Energy in a report on Tuesday, March 18th. They set a “neutral” rating and a $28.00 price target on the stock. Finally, BMO Capital Markets restated a “market perform” rating on shares of Bloom Energy in a report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $24.29.

Insider Buying and Selling at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction 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. The trade was a 0.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the sale, the insider now directly owns 178,656 shares in the company, valued at $4,482,479.04. This trade represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.

Bloom Energy Price Performance

BE stock opened at $17.92 on Thursday. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. Bloom Energy Co. has a 12 month low of $9.02 and a 12 month high of $29.83. The firm has a market cap of $4.13 billion, a P/E ratio of -32.00 and a beta of 3.27. The company’s 50-day moving average price is $22.80 and its two-hundred day moving average price is $20.27.

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.