Elemental Capital Partners LLC Invests $33.61 Million in Bloom Energy Co. (NYSE:BE)

Elemental Capital Partners LLC acquired a new position in shares of Bloom Energy Co. (NYSE:BE) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,513,377 shares of the company’s stock, valued at approximately $33,612,000. Bloom Energy comprises approximately 31.5% of Elemental Capital Partners LLC’s holdings, making the stock its 2nd biggest position. Elemental Capital Partners LLC owned 0.66% of Bloom Energy at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Mizuho Markets Americas LLC raised its position in shares of Bloom Energy by 8.2% during the third quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company’s stock worth $4,335,000 after acquiring an additional 31,189 shares during the last quarter. Duff & Phelps Investment Management Co. bought a new position in shares of Bloom Energy during the third quarter worth about $517,000. Parametrica Management Ltd bought a new position in shares of Bloom Energy during the third quarter worth about $785,000. Edgestream Partners L.P. bought a new position in shares of Bloom Energy during the third quarter worth about $3,274,000. Finally, Penserra Capital Management LLC raised its position in shares of Bloom Energy by 20.7% during the third quarter. Penserra Capital Management LLC now owns 165,660 shares of the company’s stock worth $1,749,000 after acquiring an additional 28,416 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Hsbc Global Res upgraded Bloom Energy to a “hold” rating in a report on Wednesday, November 20th. Marathon Capitl upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Jefferies Financial Group lifted their target price on Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. BMO Capital Markets lifted their target price on Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a report on Friday, November 15th. Finally, BTIG Research boosted their price objective on 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, twelve have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $23.13.

Insider Activity

In related news, CEO Kr Sridhar sold 72,903 shares of Bloom Energy stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the transaction, the chief executive officer now directly owns 1,869,593 shares in the company, valued at approximately $46,777,216.86. The trade was a 3.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the transaction, the insider now owns 171,040 shares in the company, valued at $4,005,756.80. This trade represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 122,528 shares of company stock worth $3,061,501 in the last quarter. 3.50% of the stock is owned by company insiders.

Bloom Energy Trading Up 4.7 %

NYSE BE opened at $24.20 on Thursday. 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 debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The stock has a 50 day simple moving average of $24.43 and a two-hundred day simple moving average of $16.67. The stock has a market cap of $5.53 billion, a P/E ratio of -43.21 and a beta of 3.06.

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.