Swiss National Bank Grows Stock Holdings in Bloom Energy Co. (NYSE:BE)

Swiss National Bank grew its holdings in Bloom Energy Co. (NYSE:BE) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 403,800 shares of the company’s stock after purchasing an additional 4,300 shares during the quarter. Swiss National Bank owned about 0.18% of Bloom Energy worth $8,968,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its position 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 valued at $28,000 after buying an additional 934 shares during the period. Mainstream Capital Management LLC purchased a new stake in shares of Bloom Energy during the 4th quarter valued at approximately $28,000. Jones Financial Companies Lllp raised its position in shares of Bloom Energy by 120.5% during 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 period. Avior Wealth Management LLC acquired a new stake in Bloom Energy in the 4th quarter valued at approximately $40,000. Finally, Millburn Ridgefield Corp increased its holdings in Bloom Energy by 29.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after purchasing an additional 528 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Insider Buying and Selling

In related news, insider Satish Chitoori sold 1,020 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the sale, the insider now directly owns 178,656 shares of the company’s stock, valued at $4,482,479.04. The trade was a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. This trade represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.81% of the company’s stock.

Bloom Energy Stock Performance

Shares of BE stock opened at $23.90 on Friday. 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 fifty day moving average price of $24.10 and a 200 day moving average price of $19.30. The company has a market cap of $5.51 billion, a P/E ratio of -42.68 and a beta of 3.30. Bloom Energy Co. has a 12 month low of $9.02 and a 12 month high of $29.83.

Analysts Set New Price Targets

Several research firms recently weighed in on BE. Susquehanna lifted their target price on shares of Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their target price on shares of Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Robert W. Baird lifted their target price on shares of Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. TD Cowen lifted their target price on shares of Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a report on Friday, February 28th. Finally, BTIG Research lifted their target price on shares of Bloom Energy from $20.00 to $30.00 and gave the company a “buy” rating in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Bloom Energy presently has a consensus rating of “Hold” and a consensus target price of $25.06.

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.