AGF Management Ltd. Invests $12.50 Million in Bloom Energy Corporation $BE

AGF Management Ltd. bought a new position in shares of Bloom Energy Corporation (NYSE:BE) during the third quarter, Holdings Channel reports. The fund bought 147,789 shares of the company’s stock, valued at approximately $12,499,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Resona Asset Management Co. Ltd. purchased a new stake in Bloom Energy in the 2nd quarter worth about $108,000. Mizuho Markets Americas LLC increased its holdings in shares of Bloom Energy by 29.9% in the 2nd quarter. Mizuho Markets Americas LLC now owns 395,490 shares of the company’s stock valued at $9,460,000 after purchasing an additional 90,980 shares during the period. Udine Wealth Management Inc. lifted its position in shares of Bloom Energy by 27.8% in the third quarter. Udine Wealth Management Inc. now owns 62,967 shares of the company’s stock worth $5,325,000 after purchasing an additional 13,684 shares in the last quarter. Straight Path Wealth Management acquired a new stake in shares of Bloom Energy during the third quarter worth approximately $1,099,000. Finally, Huntleigh Advisors Inc. purchased a new position in Bloom Energy during the third quarter valued at approximately $766,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Trading Up 3.1%

Shares of BE stock opened at $156.08 on Tuesday. Bloom Energy Corporation has a 12 month low of $15.15 and a 12 month high of $167.57. The company has a market cap of $36.91 billion, a PE ratio of 840.94, a price-to-earnings-growth ratio of 12.75 and a beta of 3.07. The company has a quick ratio of 2.88, a current ratio of 4.40 and a debt-to-equity ratio of 1.98. The business’s 50 day moving average is $114.72 and its two-hundred day moving average is $89.87.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BE shares. JPMorgan Chase & Co. increased their target price on shares of Bloom Energy to $129.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Hsbc Global Res raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. BTIG Research lifted their price objective on Bloom Energy to $145.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Morgan Stanley boosted their target price on Bloom Energy to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Finally, Barclays began coverage on Bloom Energy in a research note on Wednesday, January 28th. They issued an “equal weight” rating and a $153.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $109.83.

Insiders Place Their Bets

In other news, insider Maciej Kurzymski sold 13,105 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $144.09, for a total value of $1,888,299.45. Following the sale, the insider directly owned 93,269 shares of the company’s stock, valued at approximately $13,439,130.21. This trade represents a 12.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Shawn Marie Soderberg sold 36,666 shares of Bloom Energy stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $141.00, for a total value of $5,169,906.00. Following the completion of the transaction, the insider owned 225,949 shares in the company, valued at $31,858,809. The trade was a 13.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 120,410 shares of company stock worth $16,557,185 in the last ninety days. 3.50% of the stock is owned by insiders.

About Bloom Energy

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.