Nicola Wealth Management LTD. Sells 65,000 Shares of Bloom Energy Co. (NYSE:BE)

Nicola Wealth Management LTD. cut its holdings in Bloom Energy Co. (NYSE:BE) by 37.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 110,000 shares of the company’s stock after selling 65,000 shares during the period. Nicola Wealth Management LTD.’s holdings in Bloom Energy were worth $2,443,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in BE. Wealth Enhancement Advisory Services LLC raised its position in shares of Bloom Energy by 57.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 46,400 shares of the company’s stock worth $490,000 after acquiring an additional 16,973 shares in the last quarter. Emerald Mutual Fund Advisers Trust bought a new position in shares of Bloom Energy in the 3rd quarter worth about $74,000. Van ECK Associates Corp raised its position in shares of Bloom Energy by 13.1% in the 3rd quarter. Van ECK Associates Corp now owns 661,932 shares of the company’s stock worth $6,990,000 after acquiring an additional 76,536 shares in the last quarter. Emerald Advisers LLC bought a new position in shares of Bloom Energy in the 3rd quarter worth about $248,000. Finally, QRG Capital Management Inc. bought a new position in shares of Bloom Energy in the 3rd quarter worth about $114,000. 77.04% of the stock is owned by institutional investors.

Bloom Energy Price Performance

Shares of NYSE BE opened at $23.45 on Tuesday. Bloom Energy Co. has a twelve month low of $8.68 and a twelve month high of $29.83. The stock’s 50 day moving average price is $24.10 and its 200-day moving average price is $18.13. The company has a market capitalization of $5.36 billion, a PE ratio of -41.87 and a beta of 3.06. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Bank of America reduced their target price on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Truist Financial raised their target price on Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. BMO Capital Markets raised their target price on Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a research note on Friday, November 15th. Royal Bank of Canada raised their target price on Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. raised their target price on Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $24.47.

Insider Transactions at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the sale, the insider now owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. The trade was a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 8.81% of the company’s stock.

About Bloom Energy

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.