M.E. Allison & CO. Inc. Invests $711,000 in Bloom Energy Co. (NYSE:BE)

M.E. Allison & CO. Inc. purchased a new position in shares of Bloom Energy Co. (NYSE:BEFree Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 32,030 shares of the company’s stock, valued at approximately $711,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BE. Millburn Ridgefield Corp increased its position 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 acquiring an additional 528 shares during the period. GAMMA Investing LLC increased its position in Bloom Energy by 26.8% in the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock valued at $60,000 after acquiring an additional 569 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Bloom Energy in the 3rd quarter valued at approximately $34,000. Emerald Mutual Fund Advisers Trust acquired a new stake in Bloom Energy in the 3rd quarter valued at approximately $74,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Bloom Energy in the 2nd quarter valued at approximately $103,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Bloom Energy

In related news, CEO Kr Sridhar sold 46,697 shares of Bloom Energy stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the sale, the chief executive officer now directly owns 1,822,496 shares of the company’s stock, valued at $45,562,400. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $24.56, for a total value of $31,657.84. Following the sale, the insider now directly owns 168,561 shares in the company, valued at approximately $4,139,858.16. This trade represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 122,528 shares of company stock worth $3,061,501. Company insiders own 3.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Roth Mkm assumed coverage on Bloom Energy in a research report on Wednesday, December 11th. They set a “neutral” rating and a $25.00 price target on the stock. Jefferies Financial Group lifted their price target on Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. BMO Capital Markets lifted their price target on Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a research report on Friday, November 15th. Morgan Stanley lifted their price target on Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Finally, Robert W. Baird raised their price objective on Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $22.97.

Check Out Our Latest Stock Report on Bloom Energy

Bloom Energy Price Performance

NYSE BE opened at $23.98 on Monday. Bloom Energy Co. has a fifty-two week low of $8.41 and a fifty-two week high of $28.70. The stock’s 50-day moving average is $23.62 and its two-hundred day moving average is $15.71. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The firm has a market cap of $5.48 billion, a P/E ratio of -42.82 and a beta of 3.06.

Bloom Energy Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Bloom Energy (NYSE:BE)

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