B. Riley Wealth Advisors Inc. Acquires 3,824 Shares of Bloom Energy Co. (NYSE:BE)

B. Riley Wealth Advisors Inc. grew its stake in Bloom Energy Co. (NYSE:BE) by 21.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,404 shares of the company’s stock after purchasing an additional 3,824 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Bloom Energy were worth $226,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Millburn Ridgefield Corp grew its stake in Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after buying an additional 528 shares during the last quarter. Xponance Inc. grew its holdings in shares of Bloom Energy by 7.8% during the second quarter. Xponance Inc. now owns 12,542 shares of the company’s stock worth $154,000 after purchasing an additional 903 shares during the last quarter. Kovitz Investment Group Partners LLC increased its stake in shares of Bloom Energy by 3.9% in the third quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company’s stock valued at $374,000 after buying an additional 1,349 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Bloom Energy by 2.7% in the second quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock valued at $696,000 after buying an additional 1,470 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Bloom Energy during the 3rd quarter worth about $34,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on BE. Piper Sandler boosted their price objective on shares of Bloom Energy from $20.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Truist Financial cut their price target on Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday, October 16th. BMO Capital Markets boosted their price objective on Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a report on Friday, November 15th. BTIG Research lifted their price target on shares of Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Royal Bank of Canada boosted their price target on shares of Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $22.45.

Insider Buying and Selling at Bloom Energy

In other news, CEO Kr Sridhar sold 46,697 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the completion of the transaction, the chief executive officer now directly owns 1,822,496 shares in the company, valued at $45,562,400. This represents a 2.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the completion of the sale, the insider now directly owns 168,561 shares in the company, valued at approximately $4,139,858.16. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,975 shares of company stock valued at $3,045,019 in the last 90 days. 8.81% of the stock is currently owned by company insiders.

Bloom Energy Trading Up 5.4 %

Shares of NYSE:BE opened at $24.12 on Friday. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of -43.07 and a beta of 3.04. Bloom Energy Co. has a 12 month low of $8.41 and a 12 month high of $28.70. The company’s fifty day simple moving average is $18.28 and its 200 day simple moving average is $14.30. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09.

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.