Kovitz Investment Group Partners LLC Buys 1,349 Shares of Bloom Energy Co. (NYSE:BE)

Kovitz Investment Group Partners LLC lifted its stake in shares of Bloom Energy Co. (NYSE:BE) by 3.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,353 shares of the company’s stock after acquiring an additional 1,349 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Bloom Energy were worth $374,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in BE. Millburn Ridgefield Corp increased its position in shares of 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 acquiring an additional 528 shares in the last quarter. ORG Partners LLC acquired a new position in Bloom Energy during the second quarter worth $40,000. Quest Partners LLC boosted its holdings in Bloom Energy by 2,780.0% during the second quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after purchasing an additional 3,475 shares during the last quarter. Gilliland Jeter Wealth Management LLC acquired a new position in Bloom Energy during the second quarter worth $53,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in Bloom Energy during the third quarter worth $74,000. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Price Performance

NYSE:BE opened at $25.60 on Friday. Bloom Energy Co. has a 52 week low of $8.41 and a 52 week high of $28.70. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of -45.71 and a beta of 3.04. The firm’s 50-day simple moving average is $16.89 and its 200 day simple moving average is $14.02. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

Insider Buying and Selling

In related news, CEO Kr Sridhar sold 46,697 shares of the firm’s 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 transaction, the chief executive officer now directly owns 1,822,496 shares of the company’s stock, valued at approximately $45,562,400. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shawn Marie Soderberg sold 1,289 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $24.56, for a total transaction of $31,657.84. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 122,975 shares of company stock valued at $3,045,019. 8.81% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BE has been the subject of several recent research reports. HSBC cut shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 target price for the company. in a report on Wednesday, November 20th. Jefferies Financial Group increased their target price on shares of Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. BTIG Research increased their target price on shares of Bloom Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Royal Bank of Canada increased their price target on shares of Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Finally, Susquehanna increased their price target on shares of Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $21.92.

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.