Trivest Advisors Ltd Makes New Investment in Bloom Energy Co. (NYSE:BE)

Trivest Advisors Ltd bought a new stake in shares of Bloom Energy Co. (NYSE:BE) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,375,000 shares of the company’s stock, valued at approximately $30,539,000. Bloom Energy comprises 1.4% of Trivest Advisors Ltd’s holdings, making the stock its 26th biggest position. Trivest Advisors Ltd owned 0.60% of Bloom Energy as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BE. JAT Capital Mgmt LP grew its position in shares of Bloom Energy by 50.0% during the 3rd quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock valued at $23,221,000 after buying an additional 733,363 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Bloom Energy by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company’s stock valued at $36,737,000 after buying an additional 10,265 shares during the period. Elemental Capital Partners LLC bought a new stake in shares of Bloom Energy during the 4th quarter worth about $33,612,000. Bank of New York Mellon Corp raised its position in shares of Bloom Energy by 68.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,026,488 shares of the company’s stock worth $22,798,000 after buying an additional 417,120 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Bloom Energy in the 4th quarter worth approximately $19,629,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Trading Down 1.3 %

NYSE BE opened at $23.88 on Wednesday. The firm has a market cap of $5.50 billion, a P/E ratio of -42.64 and a beta of 3.30. Bloom Energy Co. has a one year low of $9.02 and a one year high of $29.83. 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 stock’s 50-day moving average is $24.08 and its 200-day moving average is $19.14.

Insider Activity at Bloom Energy

In related news, insider Satish Chitoori sold 1,020 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the completion of the sale, the insider now owns 178,656 shares of the company’s stock, valued at $4,482,479.04. This represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Shawn Marie Soderberg sold 1,639 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 171,040 shares in the company, valued at approximately $4,005,756.80. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BE has been the topic of several recent analyst reports. TD Cowen boosted their target price on Bloom Energy from $13.00 to $20.00 and gave the stock a “hold” rating in a report on Friday, February 28th. BMO Capital Markets reissued a “market perform” rating on shares of Bloom Energy in a research note on Friday, February 28th. Hsbc Global Res upgraded Bloom Energy to a “hold” rating in a report on Wednesday, November 20th. Robert W. Baird lifted their target price on Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Finally, Roth Mkm began coverage on shares of Bloom Energy in a report on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $24.67.

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.