JAT Capital Mgmt LP Has $23.22 Million Stock Holdings in Bloom Energy Co. (NYSE:BE)

JAT Capital Mgmt LP raised its holdings in Bloom Energy Co. (NYSE:BE) by 50.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,198,974 shares of the company’s stock after acquiring an additional 733,363 shares during the quarter. Bloom Energy comprises approximately 3.7% of JAT Capital Mgmt LP’s holdings, making the stock its 13th largest position. JAT Capital Mgmt LP owned about 0.97% of Bloom Energy worth $23,221,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Electron Capital Partners LLC raised its position in Bloom Energy by 131.5% in the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after purchasing an additional 1,790,733 shares in the last quarter. DigitalBridge Group Inc. raised its position in Bloom Energy by 66.3% in the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after buying an additional 462,581 shares during the last quarter. Pinnacle Associates Ltd. boosted its stake in shares of Bloom Energy by 48.6% during the 2nd quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company’s stock worth $10,644,000 after buying an additional 284,298 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Bloom Energy by 64.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 830,405 shares of the company’s stock valued at $11,017,000 after buying an additional 325,814 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Bloom Energy by 15.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 773,658 shares of the company’s stock worth $9,470,000 after acquiring an additional 101,519 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors.

Bloom Energy Trading Up 1.0 %

Bloom Energy stock opened at $27.49 on Friday. The stock has a 50-day moving average price of $13.88 and a 200 day moving average price of $13.23. The company has a market capitalization of $6.28 billion, a price-to-earnings ratio of -49.09 and a beta of 2.71. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. Bloom Energy Co. has a 52 week low of $8.41 and a 52 week high of $28.70.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BE shares. Royal Bank of Canada raised their target price on shares of Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Jefferies Financial Group upped their price target on Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. Piper Sandler boosted their target price on shares of Bloom Energy from $20.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. BTIG Research increased their price target on Bloom Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Truist Financial lowered their price objective on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $19.14.

Insider Activity

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction on Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the transaction, the insider now directly owns 168,561 shares in the company, valued at approximately $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kr Sridhar sold 46,697 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $25.00, for a total value of $1,167,425.00. Following the transaction, the chief executive officer now owns 1,822,496 shares in the company, valued at $45,562,400. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,975 shares of company stock worth $3,045,019 in the last ninety days. Company insiders own 8.81% of the company’s stock.

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.