Chesley Taft & Associates LLC Makes New Investment in Bloom Energy Co. (NYSE:BE)

Chesley Taft & Associates LLC acquired a new stake in Bloom Energy Co. (NYSE:BE) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 10,149 shares of the company’s stock, valued at approximately $225,000.

A number of other institutional investors have also made changes to their positions in the business. Millburn Ridgefield Corp increased its stake in Bloom Energy by 29.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after buying an additional 528 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Bloom Energy in the 3rd quarter valued at about $34,000. GAMMA Investing LLC increased its position in shares of Bloom Energy by 26.8% in the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock valued at $60,000 after acquiring an additional 569 shares during the last quarter. Emerald Mutual Fund Advisers Trust bought a new stake in Bloom Energy during the third quarter worth about $74,000. Finally, Gilliland Jeter Wealth Management LLC boosted its position in Bloom Energy by 97.7% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 8,500 shares of the company’s stock valued at $90,000 after purchasing an additional 4,200 shares during the last quarter. Institutional investors own 77.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Truist Financial upped their price objective on Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Roth Mkm assumed coverage on shares of Bloom Energy in a research report on Wednesday, December 11th. They set a “neutral” rating and a $25.00 price target on the stock. Bank of America lifted their price objective on shares of Bloom Energy from $7.00 to $20.00 and gave the company an “underperform” rating in a research report on Monday, December 9th. Marathon Capitl raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Finally, Piper Sandler lifted their price target on Bloom Energy from $20.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.97.

Bloom Energy Stock Performance

BE opened at $25.76 on Wednesday. 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 52-week low of $8.41 and a 52-week high of $28.70. The firm has a market cap of $5.89 billion, a P/E ratio of -46.00 and a beta of 3.06. The business’s fifty day moving average is $23.83 and its 200-day moving average is $15.79.

Insiders Place Their Bets

In other news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction on Monday, November 18th. The stock was sold at an average price of $24.56, for a total value of $31,657.84. Following the transaction, the insider now owns 168,561 shares in the company, valued at approximately $4,139,858.16. This trade represents a 0.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kr Sridhar sold 46,697 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $25.00, for a total value 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 $45,562,400. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,528 shares of company stock worth $3,061,501 over the last ninety days. Corporate insiders own 3.50% 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.