Elemental Capital Partners LLC Takes $33.61 Million Position in Bloom Energy Co. (NYSE:BE)

Elemental Capital Partners LLC purchased a new position in shares of Bloom Energy Co. (NYSE:BE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,513,377 shares of the company’s stock, valued at approximately $33,612,000. Bloom Energy accounts for about 31.5% of Elemental Capital Partners LLC’s investment portfolio, making the stock its 2nd largest holding.

Several other hedge funds have also modified their holdings of the company. Avior Wealth Management LLC purchased a new stake in shares of Bloom Energy during the 4th quarter worth $40,000. Millburn Ridgefield Corp increased its stake in shares of Bloom Energy by 29.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after purchasing an additional 528 shares in the last quarter. GAMMA Investing LLC boosted its position in Bloom Energy by 26.8% during the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after acquiring an additional 569 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Bloom Energy in the 3rd quarter valued at $34,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in shares of Bloom Energy in the 3rd quarter valued at $74,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Roth Mkm initiated coverage on shares of Bloom Energy in a research note on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 target price on the stock. BMO Capital Markets boosted their target price on shares of Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a research note on Friday, November 15th. HSBC lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price target for the company. in a research note on Wednesday, November 20th. 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. Finally, Hsbc Global Res raised shares of Bloom Energy to a “hold” rating in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $23.13.

Bloom Energy Trading Up 4.7 %

NYSE BE opened at $24.20 on Thursday. Bloom Energy Co. has a 12 month low of $8.41 and a 12 month high of $29.83. The stock’s fifty day moving average price is $24.43 and its 200-day moving average price is $16.67. 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 stock has a market cap of $5.53 billion, a P/E ratio of -43.21 and a beta of 3.06.

Insider Transactions at Bloom Energy

In related news, 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 completion of the sale, the insider now directly owns 168,561 shares of the company’s stock, valued at approximately $4,139,858.16. This trade represents a 0.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kr Sridhar sold 72,903 shares of Bloom Energy stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total value of $1,824,033.06. Following the sale, the chief executive officer now directly owns 1,869,593 shares of the company’s stock, valued at approximately $46,777,216.86. This trade represents a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,528 shares of company stock valued at $3,061,501 over the last quarter. 3.50% of the stock is currently owned by company insiders.

Bloom Energy 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.