Cypress Wealth Services LLC Acquires New Shares in Bloom Energy Co. (NYSE:BE)

Cypress Wealth Services LLC bought a new stake in Bloom Energy Co. (NYSE:BE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,385 shares of the company’s stock, valued at approximately $275,000.

Other hedge funds also recently bought and sold shares of the company. Mizuho Markets Americas LLC raised its holdings in shares of Bloom Energy by 8.2% during the 3rd quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company’s stock valued at $4,335,000 after purchasing an additional 31,189 shares in the last quarter. Duff & Phelps Investment Management Co. acquired a new position in Bloom Energy during the third quarter worth $517,000. Parametrica Management Ltd bought a new position in Bloom Energy during the third quarter valued at about $785,000. Edgestream Partners L.P. acquired a new stake in shares of Bloom Energy in the third quarter worth about $3,274,000. Finally, Penserra Capital Management LLC boosted its stake in shares of Bloom Energy by 20.7% during the 3rd quarter. Penserra Capital Management LLC now owns 165,660 shares of the company’s stock worth $1,749,000 after acquiring an additional 28,416 shares in the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BE shares. Truist Financial boosted their target price on Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a report on Thursday. Royal Bank of Canada boosted their price objective on shares of Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. HSBC lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 target price on the stock. in a research note on Wednesday, November 20th. Hsbc Global Res raised shares of Bloom Energy to a “hold” rating in a research report on Wednesday, November 20th. Finally, Bank of America raised their price target on Bloom Energy from $7.00 to $20.00 and gave the company an “underperform” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Bloom Energy currently has a consensus rating of “Hold” and a consensus target price of $22.97.

Bloom Energy Stock Up 1.8 %

NYSE:BE opened at $23.98 on Friday. The stock’s fifty day simple moving average is $23.62 and its 200-day simple moving average is $15.65. The firm has a market capitalization of $5.48 billion, a P/E ratio of -42.82 and a beta of 3.06. 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 12-month low of $8.41 and a 12-month high of $28.70.

Insiders Place Their Bets

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of the 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 sale, the insider now directly owns 171,040 shares in the company, valued at approximately $4,005,756.80. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kr Sridhar sold 46,697 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the completion of the transaction, the chief executive officer now directly owns 1,822,496 shares of the company’s stock, valued at $45,562,400. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 122,528 shares of company stock worth $3,061,501. Insiders own 3.50% of the company’s stock.

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.