Peapack Gladstone Financial Corp Increases Holdings in Bloom Energy Co. (NYSE:BE)

Peapack Gladstone Financial Corp boosted its position in Bloom Energy Co. (NYSE:BE) by 2.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 277,688 shares of the company’s stock after purchasing an additional 5,764 shares during the period. Peapack Gladstone Financial Corp owned about 0.12% of Bloom Energy worth $6,167,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Centiva Capital LP increased its position in shares of Bloom Energy by 1,364.0% in the third quarter. Centiva Capital LP now owns 40,966 shares of the company’s stock valued at $433,000 after buying an additional 44,207 shares in the last quarter. Kovitz Investment Group Partners LLC grew its stake in Bloom Energy by 3.9% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company’s stock valued at $374,000 after acquiring an additional 1,349 shares during the last quarter. Main Management ETF Advisors LLC purchased a new position in Bloom Energy during the 3rd quarter valued at about $615,000. Pier Capital LLC raised its position in Bloom Energy by 0.9% during the third quarter. Pier Capital LLC now owns 461,744 shares of the company’s stock worth $4,876,000 after acquiring an additional 4,082 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. acquired a new position in Bloom Energy during the third quarter worth about $517,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BE. Mizuho began coverage on shares of Bloom Energy in a research note on Tuesday, March 18th. They set a “neutral” rating and a $28.00 price objective for the company. Bank of America lowered their target price on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. TD Cowen boosted their price target on Bloom Energy from $13.00 to $20.00 and gave the stock a “hold” rating in a report on Friday, February 28th. Roth Mkm assumed coverage on Bloom Energy in a research note on Wednesday, December 11th. They set a “neutral” rating and a $25.00 price objective on the stock. Finally, Truist Financial lifted their price objective on Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $25.06.

Insider Transactions at Bloom Energy

In other news, insider Satish Chitoori sold 1,020 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the sale, the insider now owns 178,656 shares of the company’s stock, valued at $4,482,479.04. This represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shawn Marie Soderberg sold 1,639 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the completion of the sale, the insider now owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. This trade represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.81% of the company’s stock.

Bloom Energy Price Performance

BE stock opened at $16.65 on Monday. The stock has a 50-day moving average price of $23.31 and a two-hundred day moving average price of $20.17. The company has a market cap of $3.84 billion, a PE ratio of -29.73 and a beta of 3.27. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. Bloom Energy Co. has a 12-month low of $9.02 and a 12-month high of $29.83.

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.