Los Angeles Capital Management LLC Takes Position in Bloom Energy Co. (NYSE:BE)

Los Angeles Capital Management LLC acquired a new position in Bloom Energy Co. (NYSE:BE) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 28,668 shares of the company’s stock, valued at approximately $637,000.

Other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in Bloom Energy by 68.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,026,488 shares of the company’s stock worth $22,798,000 after acquiring an additional 417,120 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Bloom Energy by 130.2% during the 4th quarter. IFP Advisors Inc now owns 3,914 shares of the company’s stock worth $87,000 after purchasing an additional 2,214 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Bloom Energy during the 4th quarter worth approximately $823,000. Strategic Financial Concepts LLC purchased a new stake in Bloom Energy in the 4th quarter valued at approximately $495,000. Finally, Palumbo Wealth Management LLC acquired a new stake in Bloom Energy during the 4th quarter valued at $263,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BE. Jefferies Financial Group boosted their price target on Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. Piper Sandler reduced their target price on shares of Bloom Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Friday. UBS Group raised their price target on Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Hsbc Global Res raised shares of Bloom Energy to a “hold” rating in a research report on Wednesday, November 20th. Finally, BMO Capital Markets boosted their target price on shares of Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $24.47.

Insider Activity at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction of $38,385.38. Following the sale, the insider now owns 171,040 shares in the company, valued at $4,005,756.80. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.81% of the company’s stock.

Bloom Energy Stock Up 4.5 %

Shares of Bloom Energy stock opened at $24.08 on Monday. The business has a 50-day moving average price of $24.10 and a 200 day moving average price of $18.08. Bloom Energy Co. has a fifty-two week low of $8.41 and a fifty-two week high of $29.83. The firm has a market cap of $5.50 billion, a P/E ratio of -43.00 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.

About Bloom Energy

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.