Y Intercept Hong Kong Ltd Invests $823,000 in Bloom Energy Co. (NYSE:BE)

Y Intercept Hong Kong Ltd acquired a new position in Bloom Energy Co. (NYSE:BE) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 37,062 shares of the company’s stock, valued at approximately $823,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Avior Wealth Management LLC purchased a new stake in shares of Bloom Energy in the fourth quarter worth approximately $40,000. Millburn Ridgefield Corp raised its stake in shares of Bloom Energy by 29.2% in the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after purchasing an additional 528 shares during the last quarter. GAMMA Investing LLC raised its stake 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 worth $60,000 after purchasing an additional 569 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Bloom Energy in the third quarter worth approximately $34,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Bloom Energy in the third quarter worth approximately $74,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Bloom Energy Price Performance

Bloom Energy stock opened at $22.98 on Friday. Bloom Energy Co. has a one year low of $8.41 and a one year high of $29.83. The business has a fifty day moving average price of $24.10 and a 200-day moving average price of $17.91. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The firm has a market capitalization of $5.25 billion, a P/E ratio of -41.03 and a beta of 3.06.

Insider Transactions at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,639 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total value of $38,385.38. Following the completion of the transaction, the insider now directly owns 171,040 shares of the company’s stock, valued at $4,005,756.80. This trade represents a 0.95 % 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. Corporate insiders own 3.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BE. BMO Capital Markets increased their price objective on Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a research note on Friday, November 15th. Morgan Stanley upped their target price on Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Robert W. Baird upped their target price on Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. HSBC lowered Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 target price for the company. in a report on Wednesday, November 20th. Finally, Roth Mkm initiated coverage on Bloom Energy in a report on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 target price for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $24.18.

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.