Trexquant Investment LP reduced its stake in Bloom Energy Co. (NYSE:BE – Get Rating) by 77.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,345 shares of the company's stock after selling 48,741 shares during the quarter. Trexquant Investment LP's holdings in Bloom Energy were worth $237,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Clearbridge Investments LLC increased its position in shares of Bloom Energy by 21.7% during the 1st quarter. Clearbridge Investments LLC now owns 3,840,712 shares of the company's stock valued at $92,753,000 after purchasing an additional 685,213 shares during the last quarter. Frontier Capital Management Co. LLC purchased a new stake in shares of Bloom Energy during the 2nd quarter valued at $8,143,000. Goldman Sachs Group Inc. increased its position in shares of Bloom Energy by 64.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,198,250 shares of the company's stock valued at $28,938,000 after purchasing an additional 469,679 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of Bloom Energy by 31.5% during the 1st quarter. Handelsbanken Fonder AB now owns 1,435,319 shares of the company's stock valued at $34,663,000 after purchasing an additional 343,619 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Bloom Energy by 33.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,230,087 shares of the company's stock worth $29,707,000 after acquiring an additional 308,527 shares during the period. 64.19% of the stock is owned by hedge funds and other institutional investors.
Get Bloom Energy alerts:Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. Susquehanna Bancshares increased their price target on Bloom Energy from $30.00 to $35.00 and gave the stock a "positive" rating in a research note on Friday, August 19th. Jefferies Financial Group assumed coverage on Bloom Energy in a research note on Wednesday, October 19th. They set a "buy" rating and a $29.00 price target for the company. Truist Financial cut their price target on Bloom Energy from $31.00 to $20.00 and set a "hold" rating for the company in a research note on Tuesday, October 18th. Credit Suisse Group cut their price target on Bloom Energy to $32.00 in a research note on Monday, August 22nd. Finally, Wells Fargo & Company raised their target price on Bloom Energy from $30.00 to $33.00 and gave the stock an "overweight" rating in a research note on Thursday, August 11th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.50.
Bloom Energy Stock Performance
Shares of BE opened at $21.98 on Friday. The company has a market cap of $4.29 billion, a PE ratio of -13.65 and a beta of 2.87. The company has a current ratio of 2.46, a quick ratio of 1.81 and a debt-to-equity ratio of 4.44. The stock has a 50-day moving average price of $19.52 and a 200-day moving average price of $20.24. Bloom Energy Co. has a 12-month low of $11.47 and a 12-month high of $31.47.Insider Activity
In other news, EVP Guillermo Brooks sold 1,398 shares of Bloom Energy stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $18.30, for a total transaction of $25,583.40. Following the completion of the sale, the executive vice president now owns 23,992 shares in the company, valued at approximately $439,053.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Guillermo Brooks sold 1,398 shares of the firm's stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $18.30, for a total transaction of $25,583.40. Following the transaction, the executive vice president now directly owns 23,992 shares of the company's stock, valued at approximately $439,053.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Shawn Marie Soderberg sold 3,345 shares of the firm's stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $24.64, for a total value of $82,420.80. Following the transaction, the executive vice president now directly owns 351,118 shares in the company, valued at $8,651,547.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,531 shares of company stock worth $697,417. 2.78% of the stock is currently owned by insiders.
About Bloom Energy
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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 power generation platform that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels, into electricity through an electrochemical process without combustion.
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