CANADA LIFE ASSURANCE Co Buys 148,914 Shares of Bloom Energy Co. (NYSE:BE)

CANADA LIFE ASSURANCE Co grew its stake in shares of Bloom Energy Co. (NYSE:BE - Free Report) by 41.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 511,716 shares of the company's stock after acquiring an additional 148,914 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.22% of Bloom Energy worth $11,386,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of BE. Smartleaf Asset Management LLC increased its stake in Bloom Energy by 291.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock valued at $28,000 after purchasing an additional 934 shares in the last quarter. Mainstream Capital Management LLC purchased a new stake in shares of Bloom Energy during the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp increased its position in shares of Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock valued at $33,000 after acquiring an additional 812 shares in the last quarter. Avior Wealth Management LLC purchased a new position in Bloom Energy in the 4th quarter worth approximately $40,000. Finally, GAMMA Investing LLC lifted its position in Bloom Energy by 26.8% in the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company's stock valued at $60,000 after acquiring an additional 569 shares in the last quarter. Hedge funds and other institutional investors own 77.04% of the company's stock.

Insider Buying and Selling

In other Bloom Energy news, insider Satish Chitoori sold 1,020 shares of the stock in a transaction on 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 in the company, valued at approximately $4,482,479.04. This represents a 0.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 8.81% of the stock is currently owned by insiders.

Bloom Energy Stock Performance

Shares of NYSE BE traded up $0.81 during trading on Friday, hitting $18.95. The company had a trading volume of 5,912,165 shares, compared to its average volume of 6,752,699. Bloom Energy Co. has a 12 month low of $9.02 and a 12 month high of $29.83. 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 $4.37 billion, a P/E ratio of -33.84 and a beta of 3.27. The stock has a 50 day simple moving average of $21.11 and a 200 day simple moving average of $20.93.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BE shares. Robert W. Baird decreased their price target on Bloom Energy from $32.00 to $27.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Susquehanna lowered their target price on shares of Bloom Energy from $33.00 to $26.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Jefferies Financial Group reduced their price target on shares of Bloom Energy from $25.00 to $19.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th. Truist Financial lowered their price objective on shares of Bloom Energy from $22.00 to $19.00 and set a "hold" rating on the stock in a research report on Monday, April 21st. Finally, Morgan Stanley lifted their target price on shares of Bloom Energy from $28.00 to $35.00 and gave the stock an "overweight" rating in a research report on Thursday, March 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $22.97.

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.