CenterBook Partners LP Grows Position in Bloom Energy Co. (NYSE:BE)

CenterBook Partners LP grew its holdings in Bloom Energy Co. (NYSE:BE) by 8.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 116,949 shares of the company’s stock after buying an additional 8,710 shares during the period. CenterBook Partners LP owned 0.05% of Bloom Energy worth $2,597,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BE. SPX Gestao de Recursos Ltda purchased a new position in Bloom Energy in the 4th quarter worth approximately $4,442,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Bloom Energy by 184.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 404,204 shares of the company’s stock valued at $9,209,000 after purchasing an additional 262,247 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Bloom Energy by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company’s stock worth $36,737,000 after buying an additional 10,265 shares in the last quarter. Bailard Inc. acquired a new position in Bloom Energy during the fourth quarter worth $1,278,000. Finally, Bank of New York Mellon Corp grew its holdings in Bloom Energy by 68.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,026,488 shares of the company’s stock valued at $22,798,000 after buying an additional 417,120 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Shawn Marie Soderberg sold 1,639 shares of the firm’s stock in a transaction 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 sale, the insider now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction 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 directly owns 178,656 shares of the company’s stock, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by insiders.

Bloom Energy Stock Performance

Shares of BE stock opened at $17.92 on Thursday. The firm has a 50 day moving average of $22.80 and a two-hundred day moving average of $20.27. The stock has a market capitalization of $4.13 billion, a PE ratio of -32.00 and a beta of 3.27. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. Bloom Energy Co. has a 52 week low of $9.02 and a 52 week high of $29.83.

Analysts Set New Price Targets

BE has been the topic of several recent research reports. Bank of America lowered their price target on shares of Bloom Energy from $20.00 to $18.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 28th. 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 research note on Friday, February 28th. Robert W. Baird increased their price target on shares of Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Truist Financial lifted their price target on shares of Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Finally, HSBC upgraded Bloom Energy from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $24.29.

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.