State of New Jersey Common Pension Fund D Sells 78,722 Shares of Bloom Energy Co. (NYSE:BE)

State of New Jersey Common Pension Fund D reduced its stake in Bloom Energy Co. (NYSE:BE) by 47.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,386 shares of the company’s stock after selling 78,722 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Bloom Energy were worth $1,963,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BE. Mizuho Markets Americas LLC raised its stake in Bloom Energy by 8.2% during the 3rd quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company’s stock valued at $4,335,000 after buying an additional 31,189 shares during the last quarter. Duff & Phelps Investment Management Co. purchased a new stake in Bloom Energy during the 3rd quarter valued at $517,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Bloom Energy by 184.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 404,204 shares of the company’s stock valued at $9,209,000 after buying an additional 262,247 shares during the last quarter. Parametrica Management Ltd purchased a new stake in Bloom Energy during the 3rd quarter valued at $785,000. Finally, Edgestream Partners L.P. purchased a new stake in Bloom Energy during the 3rd quarter valued at $3,274,000. 77.04% of the stock is owned by institutional investors.

Bloom Energy Trading Down 7.2 %

Shares of Bloom Energy stock opened at $24.11 on Monday. The company has a fifty day moving average of $24.22 and a 200 day moving average of $17.72. Bloom Energy Co. has a fifty-two week low of $8.41 and a fifty-two week high of $29.83. The company has a market capitalization of $5.51 billion, a P/E ratio of -43.05 and a beta of 3.06. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, 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 transaction of $38,385.38. Following the completion of the transaction, the insider now owns 171,040 shares of the company’s stock, valued at $4,005,756.80. This represents a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.81% of the company’s stock.

Wall Street Analysts Forecast Growth

BE has been the subject of a number of research reports. Jefferies Financial Group boosted their target price on shares of Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, November 22nd. BMO Capital Markets boosted their target price on shares of Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. upped their price objective on Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. UBS Group upped their price objective on Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Truist Financial upped their price objective on Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.