Quest Partners LLC Increases Stock Position in Bloom Energy Co. (NYSE:BE)

Quest Partners LLC increased its position in shares of Bloom Energy Co. (NYSE:BE) by 493.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,356 shares of the company’s stock after buying an additional 17,756 shares during the period. Quest Partners LLC’s holdings in Bloom Energy were worth $226,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Bloom Energy by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock valued at $221,262,000 after buying an additional 156,434 shares during the last quarter. Electron Capital Partners LLC boosted its stake in Bloom Energy by 131.5% during the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock valued at $38,592,000 after acquiring an additional 1,790,733 shares during the last quarter. DigitalBridge Group Inc. grew its holdings in Bloom Energy by 66.3% during the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock worth $14,203,000 after acquiring an additional 462,581 shares in the last quarter. Pinnacle Associates Ltd. increased its position in shares of Bloom Energy by 48.6% in the 2nd quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company’s stock worth $10,644,000 after purchasing an additional 284,298 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Bloom Energy by 64.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 830,405 shares of the company’s stock valued at $11,017,000 after purchasing an additional 325,814 shares in the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

Insider Buying and Selling at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $24.56, for a total transaction of $31,657.84. Following the transaction, the insider now directly owns 168,561 shares of the company’s stock, valued at $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kr Sridhar sold 72,903 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the completion of the sale, the chief executive officer now directly owns 1,869,593 shares of the company’s stock, valued at $46,777,216.86. The trade was a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 122,975 shares of company stock valued at $3,045,019. Company insiders own 3.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Robert W. Baird decreased their price target on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Bank of America lowered their price target on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a report on Thursday, November 7th. BTIG Research raised their price objective on Bloom Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Royal Bank of Canada boosted their target price on shares of Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Finally, Susquehanna raised their price target on shares of Bloom Energy from $13.00 to $16.00 and gave the stock a “positive” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.18.

Bloom Energy Price Performance

Shares of BE opened at $26.18 on Wednesday. Bloom Energy Co. has a one year low of $8.41 and a one year high of $26.92. The stock’s fifty day moving average is $12.54 and its 200-day moving average is $12.82. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of -46.20 and a beta of 2.71.

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.