4,230,129 Shares in Bloom Energy Co. (NYSE:BE) Bought by Norges Bank

Norges Bank acquired a new stake in shares of Bloom Energy Co. (NYSE:BE) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,230,129 shares of the company’s stock, valued at approximately $93,951,000. Norges Bank owned about 1.85% of Bloom Energy as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Elemental Capital Partners LLC purchased a new stake in shares of Bloom Energy during the 4th quarter valued at about $33,612,000. Trivest Advisors Ltd purchased a new stake in Bloom Energy during the fourth quarter valued at approximately $30,539,000. Raymond James Financial Inc. bought a new stake in shares of Bloom Energy in the 4th quarter valued at approximately $19,629,000. Bank of New York Mellon Corp boosted its holdings in shares of Bloom Energy by 68.5% in 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 purchasing an additional 417,120 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Bloom Energy by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company’s stock valued at $427,194,000 after purchasing an additional 356,317 shares during the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the transaction, the insider now owns 171,040 shares in the company, valued at $4,005,756.80. The trade was a 0.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Satish Chitoori sold 1,020 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 178,656 shares of the company’s stock, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.81% of the stock is currently owned by corporate insiders.

Bloom Energy Trading Up 8.2 %

NYSE BE opened at $21.27 on Wednesday. The company’s 50-day simple moving average is $23.83 and its two-hundred day simple moving average is $19.98. Bloom Energy Co. has a one year low of $9.02 and a one year high of $29.83. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of -37.98 and a beta of 3.30. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BE. JPMorgan Chase & Co. raised their price target on Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Susquehanna lifted their price target on shares of Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a research note on Friday, December 6th. BTIG Research upped their price target on shares of Bloom Energy from $20.00 to $30.00 and gave the company a “buy” rating in a report on Monday, December 16th. Robert W. Baird raised their price objective on shares of Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Finally, Morgan Stanley upped their target price on Bloom Energy from $28.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Bloom Energy currently has a consensus rating of “Hold” and an average target price of $25.06.

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.