Trexquant Investment LP Invests $13.01 Million in Bloom Energy Co. (NYSE:BE)

Trexquant Investment LP acquired a new stake in Bloom Energy Co. (NYSE:BE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 585,756 shares of the company’s stock, valued at approximately $13,010,000. Trexquant Investment LP owned about 0.26% of Bloom Energy at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Millburn Ridgefield Corp increased its position 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 buying an additional 528 shares in the last quarter. Mainstream Capital Management LLC acquired a new stake in shares of Bloom Energy during the fourth quarter valued at $28,000. Smartleaf Asset Management LLC increased its position in Bloom Energy by 291.0% during the 4th 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 stake in Bloom Energy by 120.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after purchasing an additional 812 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Bloom Energy in the 3rd quarter valued at about $34,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on BE shares. TD Cowen boosted their price objective on shares of Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, February 28th. Truist Financial boosted their price target on Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. raised their price objective on Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Susquehanna upped their target price on Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a research note on Friday, December 6th. Finally, BTIG Research raised their price target on Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $25.06.

Insider Transactions at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction 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 transaction, the insider now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Satish Chitoori sold 1,020 shares of the firm’s 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 sale, the insider now directly owns 178,656 shares of the company’s stock, valued at approximately $4,482,479.04. The trade was a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.81% of the company’s stock.

Bloom Energy Stock Performance

Shares of BE stock opened at $21.27 on Wednesday. The company’s fifty day simple moving average is $23.83 and its 200-day simple moving average is $19.98. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. Bloom Energy Co. has a 52 week low of $9.02 and a 52 week high of $29.83. The company has a market cap of $4.90 billion, a PE ratio of -37.98 and a beta of 3.30.

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.