Cinctive Capital Management LP Increases Holdings in Bloom Energy Co. (NYSE:BE)

Cinctive Capital Management LP increased its stake in Bloom Energy Co. (NYSE:BE) by 194.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,875 shares of the company’s stock after acquiring an additional 38,875 shares during the period. Cinctive Capital Management LP’s holdings in Bloom Energy were worth $622,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. ORG Partners LLC purchased a new position in shares of Bloom Energy in the 2nd quarter worth approximately $40,000. Quest Partners LLC boosted its stake in Bloom Energy by 2,780.0% during the second quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after buying an additional 3,475 shares during the period. Gilliland Jeter Wealth Management LLC bought a new position in Bloom Energy during the second quarter valued at $53,000. Mather Group LLC. purchased a new stake in shares of Bloom Energy in the second quarter valued at $66,000. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in shares of Bloom Energy in the 3rd quarter worth about $74,000. 77.04% of the stock is owned by institutional investors.

Insider Buying and Selling at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,289 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $24.56, for a total value of $31,657.84. Following the completion of the sale, the insider now owns 168,561 shares of the company’s stock, valued at $4,139,858.16. This trade represents a 0.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kr Sridhar sold 72,903 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total value of $1,824,033.06. Following the transaction, the chief executive officer now directly owns 1,869,593 shares in the company, valued at $46,777,216.86. This represents a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,975 shares of company stock worth $3,045,019 over the last quarter. Insiders own 3.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Marathon Capitl raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. BMO Capital Markets increased their price target on Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a report on Friday, November 15th. Truist Financial dropped their price objective on Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a report on Wednesday, October 16th. Bank of America reduced their target price on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a research note on Thursday, November 7th. Finally, UBS Group upped their price target on shares of Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.14.

Bloom Energy Trading Down 2.9 %

Shares of NYSE:BE opened at $26.14 on Wednesday. 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 company has a market capitalization of $5.98 billion, a PE ratio of -46.68 and a beta of 3.04. Bloom Energy Co. has a 12-month low of $8.41 and a 12-month high of $28.70. The business’s fifty day simple moving average is $14.51 and its 200-day simple moving average is $13.44.

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.