Bloom Energy Co. (NYSE:BE) Shares Sold by L & S Advisors Inc

L & S Advisors Inc trimmed its position in Bloom Energy Co. (NYSE:BE) by 33.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 111,085 shares of the company’s stock after selling 55,150 shares during the quarter. L & S Advisors Inc’s holdings in Bloom Energy were worth $2,467,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in Bloom Energy during the 4th quarter worth about $93,951,000. Elemental Capital Partners LLC acquired a new stake in shares of Bloom Energy during the 4th quarter worth about $33,612,000. Trivest Advisors Ltd purchased a new stake in Bloom Energy during the fourth quarter worth approximately $30,539,000. Raymond James Financial Inc. acquired a new position in Bloom Energy in the fourth quarter valued at approximately $19,629,000. Finally, JAT Capital Mgmt LP raised its holdings in Bloom Energy by 50.0% during the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock worth $23,221,000 after purchasing an additional 733,363 shares in the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Roth Mkm initiated coverage on shares of Bloom Energy in a report on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 target price for the company. JPMorgan Chase & Co. raised their price objective on Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Robert W. Baird boosted their target price on Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Bank of America dropped their price target 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. Finally, TD Cowen boosted their price objective on Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Bloom Energy has a consensus rating of “Hold” and a consensus price target of $25.06.

Bloom Energy Stock Performance

NYSE BE opened at $20.22 on Friday. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The business’s 50 day moving average is $24.00 and its two-hundred day moving average is $19.77. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of -36.11 and a beta of 3.30. Bloom Energy Co. has a 12-month low of $9.02 and a 12-month high of $29.83.

Insider Buying and Selling

In other Bloom Energy news, insider Satish Chitoori sold 1,020 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $38,385.38. Following the sale, the insider now owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. The trade was a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.81% of the stock is currently owned by corporate insiders.

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.