John G Ullman & Associates Inc. Increases Stock Position in Bloom Energy Co. (NYSE:BE)

John G Ullman & Associates Inc. boosted its stake in Bloom Energy Co. (NYSE:BE) by 7.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 287,200 shares of the company’s stock after acquiring an additional 19,200 shares during the period. John G Ullman & Associates Inc.’s holdings in Bloom Energy were worth $6,379,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BE. Elemental Capital Partners LLC acquired a new position in Bloom Energy in the fourth quarter valued at $33,612,000. JAT Capital Mgmt LP increased its stake in Bloom Energy by 50.0% in the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock valued at $23,221,000 after purchasing an additional 733,363 shares during the period. Bank of New York Mellon Corp increased its stake in Bloom Energy by 68.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,026,488 shares of the company’s stock valued at $22,798,000 after purchasing an additional 417,120 shares during the period. Erste Asset Management GmbH acquired a new position in shares of Bloom Energy during the third quarter worth about $3,762,000. Finally, Edgestream Partners L.P. acquired a new position in shares of Bloom Energy during the third quarter worth about $3,274,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,639 shares of the firm’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 directly owns 171,040 shares of the company’s stock, valued at $4,005,756.80. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 8.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BE. Susquehanna boosted 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. Marathon Capitl upgraded shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. BTIG Research boosted their price target on shares of Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Roth Capital upgraded shares of Bloom Energy to a “hold” rating in a research note on Tuesday, December 10th. Finally, Roth Mkm began coverage on shares of Bloom Energy in a research note on Wednesday, December 11th. They set a “neutral” rating and a $25.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Bloom Energy currently has an average rating of “Hold” and a consensus target price of $24.47.

Bloom Energy Trading Up 4.5 %

Shares of BE opened at $24.08 on Friday. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The firm has a 50 day simple moving average of $24.10 and a 200-day simple moving average of $18.04. Bloom Energy Co. has a 1-year low of $8.41 and a 1-year high of $29.83. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of -43.00 and a beta of 3.06.

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.