Bloom Energy Co. (NYSE:BE) Stake Lifted by Cinctive Capital Management LP

Cinctive Capital Management LP raised its stake in Bloom Energy Co. (NYSE:BE) by 917.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 599,009 shares of the company’s stock after buying an additional 540,134 shares during the quarter. Bloom Energy makes up about 0.7% of Cinctive Capital Management LP’s investment portfolio, making the stock its 28th largest holding. Cinctive Capital Management LP’s holdings in Bloom Energy were worth $13,304,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in Bloom Energy during the 4th quarter valued at about $93,951,000. Elemental Capital Partners LLC acquired a new position in Bloom Energy during the fourth quarter worth about $33,612,000. Trivest Advisors Ltd acquired a new position in shares of Bloom Energy in the 4th quarter worth approximately $30,539,000. Wellington Management Group LLP increased its holdings in shares of Bloom Energy by 306.3% in the fourth quarter. Wellington Management Group LLP now owns 1,383,897 shares of the company’s stock valued at $30,736,000 after buying an additional 1,043,326 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Bloom Energy during the fourth quarter worth $19,629,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BE shares. Robert W. Baird upped their price target on shares of Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. BMO Capital Markets reissued a “market perform” rating on shares of Bloom Energy in a research report on Friday, February 28th. 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 research note on Monday, December 16th. TD Cowen raised their price objective on shares of Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, February 28th. Finally, Mizuho started coverage on shares of Bloom Energy in a research note on Tuesday, March 18th. They issued a “neutral” rating and a $28.00 target price for the company. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $25.06.

Bloom Energy Stock Up 8.2 %

Shares of NYSE BE opened at $21.27 on Wednesday. Bloom Energy Co. has a 52-week low of $9.02 and a 52-week high of $29.83. The stock has a market cap of $4.90 billion, a PE ratio of -37.98 and a beta of 3.30. The business has a fifty day moving average of $23.83 and a two-hundred day moving average of $19.98. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

Insiders Place Their Bets

In other news, insider Shawn Marie Soderberg sold 1,639 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the transaction, the insider now owns 171,040 shares of the company’s stock, valued at $4,005,756.80. This represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction dated Monday, March 17th. The stock was 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 owns 178,656 shares of the company’s stock, valued at approximately $4,482,479.04. The trade was a 0.57 % 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 Company 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.