CIBC Private Wealth Group LLC Sells 2,200 Shares of Bloom Energy Co. (NYSE:BE)

CIBC Private Wealth Group LLC lessened its stake in Bloom Energy Co. (NYSE:BE) by 29.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,390 shares of the company’s stock after selling 2,200 shares during the period. CIBC Private Wealth Group LLC’s holdings in Bloom Energy were worth $131,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Mainstream Capital Management LLC acquired a new position in shares of Bloom Energy in the 4th quarter valued at $28,000. Smartleaf Asset Management LLC raised its position in Bloom Energy by 291.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after purchasing an additional 934 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after purchasing an additional 812 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Bloom Energy during the third quarter valued at approximately $34,000. Finally, Avior Wealth Management LLC acquired a new stake in Bloom Energy during the fourth quarter valued at approximately $40,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on BE. Truist Financial raised their target price on Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Robert W. Baird lifted their price objective on Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Roth Capital upgraded shares of Bloom Energy to a “hold” rating in a research note on Tuesday, December 10th. Roth Mkm began coverage on shares of Bloom Energy in a research report on Wednesday, December 11th. They set a “neutral” rating and a $25.00 target price for the company. Finally, BTIG Research lifted their price target on shares of Bloom Energy from $20.00 to $30.00 and gave the company a “buy” rating in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Bloom Energy currently has an average rating of “Hold” and a consensus price target of $25.06.

Bloom Energy Stock Up 3.7 %

Bloom Energy stock opened at $17.22 on Tuesday. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of -30.75 and a beta of 3.27. The company’s 50 day simple moving average is $23.21 and its 200 day simple moving average is $20.22. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. Bloom Energy Co. has a fifty-two week low of $9.02 and a fifty-two week high of $29.83.

Insiders Place Their Bets

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was 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 of the company’s stock, valued at approximately $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 can be accessed through this link. Also, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the completion of the transaction, the insider now directly owns 178,656 shares in the company, valued at approximately $4,482,479.04. The trade was a 0.57 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.81% of the company’s stock.

About Bloom Energy

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.