286,233 Shares in Bloom Energy Co. (NYSE:BE) Acquired by Fred Alger Management LLC

Fred Alger Management LLC acquired a new stake in Bloom Energy Co. (NYSE:BE - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 286,233 shares of the company's stock, valued at approximately $6,357,000. Fred Alger Management LLC owned 0.13% of Bloom Energy at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BE. DigitalBridge Group Inc. increased its holdings in shares of Bloom Energy by 5.7% in the fourth quarter. DigitalBridge Group Inc. now owns 1,418,257 shares of the company's stock valued at $31,499,000 after purchasing an additional 75,974 shares during the period. CastleKnight Management LP purchased a new position in Bloom Energy during the 4th quarter worth $700,000. Cetera Investment Advisers lifted its stake in shares of Bloom Energy by 19.9% in the 4th quarter. Cetera Investment Advisers now owns 23,842 shares of the company's stock worth $530,000 after acquiring an additional 3,956 shares during the period. Bosun Asset Management LLC purchased a new stake in shares of Bloom Energy in the fourth quarter valued at about $695,000. Finally, BROOKFIELD Corp ON acquired a new position in shares of Bloom Energy during the fourth quarter worth about $1,194,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Satish Chitoori sold 1,020 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the sale, the insider now owns 178,656 shares of the company's stock, valued at $4,482,479.04. The trade was a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.60% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Susquehanna reduced their price target on Bloom Energy from $33.00 to $26.00 and set a "positive" rating for the company in a report on Monday, April 14th. Bank of America decreased their target price on shares of Bloom Energy from $20.00 to $18.00 and set an "underperform" rating on the stock in a research report on Tuesday, January 28th. HSBC upgraded shares of Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 price target for the company in a report on Tuesday, April 8th. Truist Financial lowered their target price 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, Robert W. Baird dropped their target price on shares of Bloom Energy from $32.00 to $27.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $22.47.

Bloom Energy Trading Up 1.4%

BE traded up $0.26 during trading on Tuesday, hitting $19.17. The company's stock had a trading volume of 4,947,636 shares, compared to its average volume of 6,800,393. The stock has a market cap of $4.42 billion, a PE ratio of -34.23 and a beta of 3.25. The firm's 50 day moving average price is $19.72 and its 200-day moving average price is $21.51. Bloom Energy Co. has a twelve month low of $9.02 and a twelve month high of $29.83. 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 (NYSE:BE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.10. The company had revenue of $326.02 million for the quarter, compared to analyst estimates of $294.27 million. Bloom Energy had a negative net margin of 10.29% and a negative return on equity of 20.32%. Bloom Energy's revenue for the quarter was up 38.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.17) EPS. On average, analysts expect that Bloom Energy Co. will post -0.23 earnings per share for the current year.

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.