Bloom Energy Co. (NYSE:BE) Stock Position Lowered by Tidal Investments LLC

Tidal Investments LLC trimmed its position in shares of Bloom Energy Co. (NYSE:BE) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 114,289 shares of the company’s stock after selling 4,107 shares during the period. Tidal Investments LLC’s holdings in Bloom Energy were worth $1,207,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in Bloom Energy during the 3rd quarter valued at about $34,000. Duff & Phelps Investment Management Co. purchased a new position in Bloom Energy during the third quarter valued at approximately $517,000. Pier Capital LLC increased its stake in Bloom Energy by 0.9% in the 3rd quarter. Pier Capital LLC now owns 461,744 shares of the company’s stock valued at $4,876,000 after buying an additional 4,082 shares during the period. Main Management ETF Advisors LLC acquired a new position in Bloom Energy in the 3rd quarter valued at approximately $615,000. Finally, Kovitz Investment Group Partners LLC lifted its position in Bloom Energy by 3.9% in the 3rd 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 in the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,289 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $24.56, for a total transaction of $31,657.84. Following the transaction, the insider now directly owns 168,561 shares in the company, valued at $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kr Sridhar sold 46,697 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $25.00, for a total value of $1,167,425.00. Following the completion of the transaction, the chief executive officer now directly owns 1,822,496 shares of the company’s stock, valued at approximately $45,562,400. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 122,975 shares of company stock worth $3,045,019. Insiders own 8.81% of the company’s stock.

Bloom Energy Stock Performance

Shares of NYSE BE opened at $23.46 on Thursday. Bloom Energy Co. has a 12 month low of $8.41 and a 12 month high of $28.70. The company has a market cap of $5.36 billion, a P/E ratio of -41.89 and a beta of 3.04. The business’s 50 day moving average is $17.50 and its two-hundred day moving average is $14.12. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BE. Morgan Stanley upped their price target on shares of Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Susquehanna raised their price target on Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a research note on Friday, December 6th. Royal Bank of Canada boosted their price target on Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Bank of America raised their price objective on shares of Bloom Energy from $7.00 to $20.00 and gave the company an “underperform” rating in a research report on Monday, December 9th. Finally, Piper Sandler boosted their target price on shares of Bloom Energy from $20.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $22.45.

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.