State of New Jersey Common Pension Fund D Has $1.77 Million Holdings in Bloom Energy Co. (NYSE:BE)

State of New Jersey Common Pension Fund D increased its holdings in shares of Bloom Energy Co. (NYSE:BE) by 39.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 167,108 shares of the company’s stock after purchasing an additional 47,272 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Bloom Energy were worth $1,765,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in BE. ORG Partners LLC acquired a new position in shares of Bloom Energy during the 2nd quarter worth about $40,000. Quest Partners LLC grew its stake in Bloom Energy by 2,780.0% in the second quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after purchasing an additional 3,475 shares in the last quarter. Gilliland Jeter Wealth Management LLC acquired a new position in shares of Bloom Energy during the 2nd quarter worth approximately $53,000. Mather Group LLC. acquired a new position in shares of Bloom Energy during the 2nd quarter worth approximately $66,000. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in shares of Bloom Energy during the 3rd quarter worth approximately $74,000. Institutional investors own 77.04% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BE. Jefferies Financial Group downgraded shares of Bloom Energy from a “buy” rating to a “hold” rating and lowered their target price for the stock from $15.00 to $11.00 in a report on Friday, September 6th. Robert W. Baird dropped their target price on shares of Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Susquehanna lifted their price target on Bloom Energy from $13.00 to $16.00 and gave the stock a “positive” rating in a report on Tuesday, November 12th. Bank of America dropped their price objective on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a research note on Thursday, November 7th. Finally, BMO Capital Markets lifted their target price on Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $17.17.

Bloom Energy Trading Up 7.9 %

Shares of BE stock opened at $22.81 on Tuesday. The stock has a market cap of $5.21 billion, a P/E ratio of -42.09 and a beta of 2.71. Bloom Energy Co. has a 1 year low of $8.41 and a 1 year high of $24.92. The company has a current ratio of 3.36, a quick ratio of 3.33 and a debt-to-equity ratio of 3.09. The stock has a 50 day simple moving average of $10.82 and a 200 day simple moving average of $12.28.

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.