SCP Investment LP Invests $410,000 in Bloom Energy Co. (NYSE:BE)

SCP Investment LP purchased a new position in Bloom Energy Co. (NYSE:BE) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 38,800 shares of the company’s stock, valued at approximately $410,000.

A number of other large investors also recently bought and sold shares of the business. ORG Partners LLC bought a new position in shares of Bloom Energy during the second quarter valued at approximately $40,000. Quest Partners LLC boosted its position in shares of Bloom Energy by 2,780.0% in the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after purchasing an additional 3,475 shares in the last quarter. Gilliland Jeter Wealth Management LLC purchased a new stake in shares of Bloom Energy in the 2nd quarter worth approximately $53,000. Mather Group LLC. bought a new position in Bloom Energy during the 2nd quarter valued at approximately $66,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in Bloom Energy during the third quarter valued at $74,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction on Monday, November 18th. The shares were sold at an average price of $24.56, for a total transaction of $31,657.84. Following the transaction, the insider now owns 168,561 shares in the company, valued at $4,139,858.16. This trade represents a 0.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.50% of the company’s stock.

Wall Street Analyst Weigh In

BE has been the topic of a number of recent research reports. Morgan Stanley increased their target price on Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday. Marathon Capitl raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Piper Sandler raised shares of Bloom Energy from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $10.00 to $20.00 in a report on Friday, November 15th. BTIG Research increased their price target on shares of Bloom Energy from $16.00 to $20.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, BMO Capital Markets raised their price target on shares of Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.55.

Bloom Energy Stock Up 4.1 %

Bloom Energy stock opened at $23.75 on Wednesday. Bloom Energy Co. has a one year low of $8.41 and a one year high of $24.92. The stock has a fifty day moving average of $11.08 and a 200 day moving average of $12.36. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The stock has a market cap of $5.43 billion, a PE ratio of -42.40 and a beta of 2.71.

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.