Water Island Capital LLC Purchases New Holdings in Bloom Energy Corp (BE)

Water Island Capital LLC bought a new position in Bloom Energy Corp (NYSE:BE) during the first quarter, according to its most recent filing with the SEC. The firm bought 18,500 shares of the company’s stock, valued at approximately $239,000.

Several other institutional investors and hedge funds have also recently modified their holdings of BE. Paulson Wealth Management Inc. acquired a new stake in shares of Bloom Energy in the first quarter valued at approximately $734,000. BlackRock Inc. boosted its stake in Bloom Energy by 29.3% during the fourth quarter. BlackRock Inc. now owns 432,121 shares of the company’s stock valued at $4,313,000 after buying an additional 97,927 shares during the last quarter. Cerity Partners LLC bought a new stake in shares of Bloom Energy in the 4th quarter valued at approximately $113,000. Bank of New York Mellon Corp bought a new stake in shares of Bloom Energy in the 3rd quarter valued at approximately $555,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Bloom Energy in the 3rd quarter valued at approximately $1,966,000. Institutional investors own 20.80% of the company’s stock.

Bloom Energy stock traded down $0.15 during mid-day trading on Wednesday, reaching $13.52. The company had a trading volume of 16,647 shares, compared to its average volume of 1,361,091. The company has a debt-to-equity ratio of 7.84, a current ratio of 2.40 and a quick ratio of 1.93. Bloom Energy Corp has a 52 week low of $8.88 and a 52 week high of $38.00. The company has a market cap of $1.49 billion and a PE ratio of -5.66.



In other Bloom Energy news, major shareholder Majesty The Queen In Right Her sold 178,429 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $14.62, for a total value of $2,608,631.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Swaminathan Venkataraman sold 31,565 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $15.02, for a total transaction of $474,106.30. The disclosure for this sale can be found here. Insiders have sold a total of 726,928 shares of company stock valued at $9,783,815 over the last ninety days. 36.45% of the stock is owned by insiders.

Several brokerages recently weighed in on BE. Raymond James set a $13.00 price target on Bloom Energy and gave the company a “buy” rating in a research note on Thursday, March 7th. ValuEngine raised shares of Bloom Energy from a “hold” rating to a “buy” rating in a research note on Saturday, March 9th. Zacks Investment Research raised shares of Bloom Energy from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Monday. Finally, Credit Suisse Group upgraded shares of Bloom Energy from a “neutral” rating to an “outperform” rating and set a $10.06 target price for the company in a research report on Wednesday, February 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. Bloom Energy has an average rating of “Buy” and an average target price of $20.90.

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Bloom Energy Profile

Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems for on-site power generation. The company offers Bloom Energy Server, a stationary power generation platform that converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion.

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Institutional Ownership by Quarter for Bloom Energy (NYSE:BE)

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