State of New Jersey Common Pension Fund D Purchases 19,777 Shares of Bloom Energy Co. (NYSE:BE)

State of New Jersey Common Pension Fund D boosted its position in shares of Bloom Energy Co. (NYSE:BE) by 12.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 184,687 shares of the company’s stock after acquiring an additional 19,777 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.08% of Bloom Energy worth $2,733,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BE. FMR LLC grew its stake in shares of Bloom Energy by 168.8% in the 3rd quarter. FMR LLC now owns 3,524,361 shares of the company’s stock valued at $46,733,000 after purchasing an additional 2,213,167 shares during the period. Vanguard Group Inc. grew its stake in shares of Bloom Energy by 9.3% in the 3rd quarter. Vanguard Group Inc. now owns 19,221,174 shares of the company’s stock valued at $254,873,000 after purchasing an additional 1,635,738 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Bloom Energy by 22.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,558,252 shares of the company’s stock valued at $20,662,000 after purchasing an additional 283,333 shares during the period. Alpha Wave Global LP bought a new stake in shares of Bloom Energy in the 3rd quarter valued at approximately $3,187,000. Finally, Pinnacle Associates Ltd. grew its stake in shares of Bloom Energy by 65.2% in the 3rd quarter. Pinnacle Associates Ltd. now owns 582,039 shares of the company’s stock valued at $7,718,000 after purchasing an additional 229,639 shares during the period. 77.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BE has been the topic of several recent analyst reports. KeyCorp downgraded Bloom Energy from an “overweight” rating to a “sector weight” rating in a report on Friday, February 16th. BTIG Research initiated coverage on Bloom Energy in a report on Thursday, January 25th. They issued a “buy” rating and a $21.00 target price on the stock. Bank of America downgraded Bloom Energy from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $16.00 to $10.00 in a report on Monday, January 29th. Redburn Atlantic initiated coverage on Bloom Energy in a report on Tuesday, February 6th. They issued a “neutral” rating and a $12.50 target price on the stock. Finally, JPMorgan Chase & Co. downgraded Bloom Energy from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $19.00 to $14.00 in a report on Friday, February 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.69.

Insider Activity

In related news, insider Shawn Marie Soderberg sold 8,963 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $9.86, for a total transaction of $88,375.18. Following the sale, the insider now owns 168,003 shares of the company’s stock, valued at approximately $1,656,509.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Shawn Marie Soderberg sold 8,963 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $9.86, for a total transaction of $88,375.18. Following the sale, the insider now owns 168,003 shares of the company’s stock, valued at approximately $1,656,509.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kr Sridhar sold 50,746 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $9.74, for a total value of $494,266.04. Following the sale, the chief executive officer now directly owns 2,702,608 shares in the company, valued at approximately $26,323,401.92. The disclosure for this sale can be found here. Insiders have sold a total of 74,989 shares of company stock valued at $725,292 in the last 90 days. 3.50% of the stock is owned by company insiders.

Bloom Energy Stock Performance

BE stock opened at $11.11 on Wednesday. The business’s fifty day moving average is $10.15 and its 200-day moving average is $11.67. The company has a quick ratio of 2.53, a current ratio of 3.60 and a debt-to-equity ratio of 2.41. The company has a market cap of $2.50 billion, a P/E ratio of -7.66 and a beta of 2.79. Bloom Energy Co. has a twelve month low of $8.41 and a twelve month high of $18.76.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. The company had revenue of $356.92 million for the quarter, compared to the consensus estimate of $481.90 million. Bloom Energy had a negative return on equity of 23.88% and a negative net margin of 22.66%. Equities research analysts forecast that Bloom Energy Co. will post -0.16 EPS for the current year.

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.