Swiss National Bank Increases Position in Bloom Energy Co. (NYSE:BE)

Swiss National Bank grew its holdings in Bloom Energy Co. (NYSE:BE) by 1.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 403,800 shares of the company’s stock after buying an additional 4,300 shares during the period. Swiss National Bank’s holdings in Bloom Energy were worth $8,968,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in BE. Millburn Ridgefield Corp raised its holdings in Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after purchasing an additional 528 shares in the last quarter. Mainstream Capital Management LLC purchased a new position in Bloom Energy during the fourth quarter worth about $28,000. Smartleaf Asset Management LLC raised its holdings in Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after purchasing an additional 934 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after purchasing an additional 812 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Bloom Energy during the third quarter worth about $34,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. BTIG Research increased their price target on shares of Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, December 16th. JPMorgan Chase & Co. upped their target price on shares of Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Roth Mkm started coverage on shares of Bloom Energy in a research report on Wednesday, December 11th. They set a “neutral” rating and a $25.00 target price on the stock. Truist Financial upped their target price on shares of Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Finally, Morgan Stanley upped their target price on shares of Bloom Energy from $28.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $25.06.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy 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 transaction, the insider now owns 171,040 shares in the company, valued at $4,005,756.80. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction on 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 transaction, the insider now owns 178,656 shares in the company, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.81% of the company’s stock.

Bloom Energy Stock Performance

Shares of BE opened at $23.90 on Friday. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of -42.68 and a beta of 3.30. The company’s 50 day simple moving average is $24.10 and its 200 day simple moving average is $19.30. Bloom Energy Co. has a 1 year low of $9.02 and a 1 year high of $29.83.

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.