Trexquant Investment LP Purchases New Stake in Bloom Energy Co. (NYSE:BE)

Trexquant Investment LP acquired a new stake in shares of Bloom Energy Co. (NYSE:BE) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 585,756 shares of the company’s stock, valued at approximately $13,010,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Captrust Financial Advisors increased its holdings in shares of Bloom Energy by 9.1% in the 3rd quarter. Captrust Financial Advisors now owns 170,013 shares of the company’s stock valued at $1,795,000 after acquiring an additional 14,130 shares during the last quarter. Erste Asset Management GmbH acquired a new position in Bloom Energy in the third quarter worth $3,762,000. Cinctive Capital Management LP increased its stake in Bloom Energy by 194.4% during the third quarter. Cinctive Capital Management LP now owns 58,875 shares of the company’s stock valued at $622,000 after purchasing an additional 38,875 shares during the last quarter. Centiva Capital LP raised its holdings in shares of Bloom Energy by 1,364.0% during the third quarter. Centiva Capital LP now owns 40,966 shares of the company’s stock worth $433,000 after purchasing an additional 44,207 shares during the period. Finally, Millburn Ridgefield Corp lifted its position in shares of Bloom Energy by 29.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after buying an additional 528 shares during the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Roth Capital upgraded shares of Bloom Energy to a “hold” rating in a research note on Tuesday, December 10th. Mizuho started coverage on Bloom Energy in a research report on Tuesday, March 18th. They set a “neutral” rating and a $28.00 price target on the stock. Morgan Stanley boosted their price objective on Bloom Energy from $28.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Piper Sandler dropped their target price on Bloom Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given 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 “Hold” and an average price target of $25.06.

Bloom Energy Stock Performance

BE opened at $21.27 on Wednesday. The business has a 50 day moving average price of $23.83 and a two-hundred day moving average price of $19.98. 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 company has a market capitalization of $4.90 billion, a price-to-earnings ratio of -37.98 and a beta of 3.30. Bloom Energy Co. has a 1-year low of $9.02 and a 1-year high of $29.83.

Insider Transactions at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction that occurred 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 transaction, the insider now owns 171,040 shares of the company’s stock, valued at $4,005,756.80. The trade was a 0.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Satish Chitoori sold 1,020 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the sale, the insider now owns 178,656 shares of the company’s stock, valued at $4,482,479.04. The trade was a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.81% of the company’s stock.

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.