Trivest Advisors Ltd Invests $30.54 Million in Bloom Energy Co. (NYSE:BE)

Trivest Advisors Ltd purchased a new stake in shares of Bloom Energy Co. (NYSE:BE) in the fourth quarter, Holdings Channel.com reports. The firm purchased 1,375,000 shares of the company’s stock, valued at approximately $30,539,000. Bloom Energy accounts for about 1.4% of Trivest Advisors Ltd’s holdings, making the stock its 26th largest holding.

Other institutional investors have also bought and sold shares of the company. Millburn Ridgefield Corp lifted its holdings in Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after acquiring an additional 528 shares during the period. Mainstream Capital Management LLC purchased a new stake in Bloom Energy during the 4th quarter worth about $28,000. Smartleaf Asset Management LLC grew its stake in Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after acquiring an additional 934 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Bloom Energy by 120.5% in the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after buying an additional 812 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Bloom Energy during the third quarter worth about $34,000. Institutional investors own 77.04% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on BE shares. Roth Capital upgraded Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. Bank of America reduced their target price on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. HSBC cut shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price target for the company. in a research report on Wednesday, November 20th. Roth Mkm initiated coverage on Bloom Energy in a report on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 target price for the company. Finally, Truist Financial raised their target price on shares of Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, eleven have issued 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 company presently has an average rating of “Hold” and an average target price of $24.67.

Bloom Energy Stock Down 1.3 %

BE stock opened at $23.88 on Wednesday. The firm has a market capitalization of $5.50 billion, a price-to-earnings ratio of -42.64 and a beta of 3.30. The company’s 50 day moving average price is $24.08 and its 200 day moving average price is $19.14. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. Bloom Energy Co. has a fifty-two week low of $9.02 and a fifty-two week high of $29.83.

Insider Buying and Selling at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the sale, the insider now owns 171,040 shares in the company, valued at approximately $4,005,756.80. This trade represents a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Satish Chitoori sold 1,020 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $25.09, for a total value of $25,591.80. Following the transaction, the insider now directly owns 178,656 shares in the company, valued at approximately $4,482,479.04. This represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is currently owned by insiders.

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.