Truist Financial Corp Invests $7.64 Million in Bloom Energy Corporation $BE

Truist Financial Corp acquired a new stake in Bloom Energy Corporation (NYSE:BE) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 90,283 shares of the company’s stock, valued at approximately $7,635,000.

Other institutional investors have also made changes to their positions in the company. N.E.W. Advisory Services LLC acquired a new stake in shares of Bloom Energy during the 3rd quarter worth about $32,000. Parkside Financial Bank & Trust raised its holdings in Bloom Energy by 250.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock valued at $33,000 after acquiring an additional 281 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in Bloom Energy during the second quarter worth approximately $36,000. NewEdge Advisors LLC boosted its holdings in shares of Bloom Energy by 674.7% during the first quarter. NewEdge Advisors LLC now owns 1,867 shares of the company’s stock worth $37,000 after acquiring an additional 1,626 shares during the period. Finally, Cranbrook Wealth Management LLC bought a new stake in shares of Bloom Energy during the third quarter worth approximately $39,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, insider Aman Joshi sold 4,543 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $109.13, for a total transaction of $495,777.59. Following the completion of the sale, the insider owned 219,818 shares of the company’s stock, valued at approximately $23,988,738.34. This represents a 2.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,583 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $105.97, for a total transaction of $167,750.51. Following the completion of the transaction, the insider owned 221,633 shares in the company, valued at $23,486,449.01. This trade represents a 0.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 120,410 shares of company stock worth $16,557,185. Company insiders own 3.50% of the company’s stock.

Bloom Energy Trading Up 3.1%

Shares of BE stock opened at $156.08 on Tuesday. Bloom Energy Corporation has a 1-year low of $15.15 and a 1-year high of $167.57. The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98. The stock has a market cap of $36.91 billion, a price-to-earnings ratio of 840.94, a PEG ratio of 12.75 and a beta of 3.07. The stock has a 50-day moving average of $114.72 and a 200-day moving average of $89.87.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Hsbc Global Res upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. Zacks Research lowered Bloom Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Mizuho set a $89.00 target price on Bloom Energy in a report on Wednesday, October 29th. Robert W. Baird set a $172.00 target price on shares of Bloom Energy in a research report on Tuesday, January 27th. Finally, JPMorgan Chase & Co. raised their target price on shares of Bloom Energy to $129.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Bloom Energy presently has a consensus rating of “Hold” and a consensus price target of $109.83.

Bloom Energy Company Profile

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.