M.E. Allison & CO. Inc. Acquires Shares of 32,030 Bloom Energy Co. (NYSE:BE)

M.E. Allison & CO. Inc. acquired a new stake in shares of Bloom Energy Co. (NYSE:BE) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 32,030 shares of the company’s stock, valued at approximately $711,000.

Other institutional investors also recently added to or reduced their stakes in the company. Millburn Ridgefield Corp boosted 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 valued at $25,000 after purchasing an additional 528 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Bloom Energy in the 3rd quarter worth approximately $34,000. GAMMA Investing LLC boosted its holdings in shares of Bloom Energy by 26.8% in the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after acquiring an additional 569 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Bloom Energy in the 3rd quarter worth approximately $74,000. Finally, Gilliland Jeter Wealth Management LLC boosted its holdings in shares of Bloom Energy by 97.7% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 8,500 shares of the company’s stock worth $90,000 after acquiring an additional 4,200 shares in the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Kr Sridhar sold 46,697 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the transaction, the chief executive officer now directly owns 1,822,496 shares of the company’s stock, valued at approximately $45,562,400. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,289 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $24.56, for a total transaction of $31,657.84. Following the transaction, the insider now directly owns 168,561 shares in the company, valued at $4,139,858.16. This represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 122,528 shares of company stock valued at $3,061,501. 3.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BE has been the subject of several research analyst reports. Susquehanna boosted their price objective on shares of Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a research report on Friday, December 6th. BTIG Research boosted their price objective on shares of Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Morgan Stanley boosted their price objective on shares of Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Jefferies Financial Group upped their target price on shares of Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. Finally, Roth Capital upgraded shares of Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Bloom Energy currently has an average rating of “Hold” and a consensus price target of $22.97.

Bloom Energy Trading Up 1.8 %

Bloom Energy stock opened at $23.98 on Monday. The firm has a 50-day moving average of $23.62 and a 200-day moving average of $15.71. Bloom Energy Co. has a one year low of $8.41 and a one year high of $28.70. 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 cap of $5.48 billion, a price-to-earnings ratio of -42.82 and a beta of 3.06.

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.