Emerald Advisers LLC Acquires 345,308 Shares of Bloom Energy Co. (NYSE:BE)

Emerald Advisers LLC boosted its holdings in shares of Bloom Energy Co. (NYSE:BE) by 1,471.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 368,779 shares of the company’s stock after purchasing an additional 345,308 shares during the period. Emerald Advisers LLC owned about 0.16% of Bloom Energy worth $8,191,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Bloom Energy by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company’s stock worth $427,194,000 after purchasing an additional 356,317 shares during the period. JAT Capital Mgmt LP lifted its stake 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 during the period. Charles Schwab Investment Management Inc. lifted its stake 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 purchasing an additional 10,265 shares during the period. Elemental Capital Partners LLC bought a new position in shares of Bloom Energy in the fourth quarter valued at approximately $33,612,000. Finally, Trivest Advisors Ltd bought a new position in shares of Bloom Energy in the fourth quarter valued at approximately $30,539,000. Institutional investors own 77.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BE. Morgan Stanley lifted their target price on shares of Bloom Energy from $28.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday. BMO Capital Markets reiterated a “market perform” rating on shares of Bloom Energy in a research note on Friday, February 28th. Robert W. Baird lifted their target price 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. JPMorgan Chase & Co. lifted their target price on shares of Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Finally, Piper Sandler dropped their price objective on shares of Bloom Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned 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 an average target price of $25.06.

Insider Activity

In related news, insider Satish Chitoori sold 1,020 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $25.09, for a total value 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. The trade was a 0.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 171,040 shares in the company, valued at $4,005,756.80. This represents 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 owned by company insiders.

Bloom Energy Price Performance

Shares of BE stock opened at $23.90 on Friday. Bloom Energy Co. has a 12-month low of $9.02 and a 12-month high of $29.83. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of -42.68 and a beta of 3.30. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The firm has a fifty day moving average of $24.10 and a 200-day moving average of $19.36.

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.