By otakuyassine3@gmail.com 
Vanguard Group Inc. lifted its holdings in shares of Bloom Energy Co. (NYSE:BE – Free Report) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,234,329 shares of the company’s stock after buying an additional 356,317 shares during the period. Vanguard Group Inc. owned approximately 0.08% of Bloom Energy worth $427,194,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Elemental Capital Partners LLC purchased a new stake in shares of Bloom Energy during the 4th quarter valued at about $33,612,000. Trivest Advisors Ltd purchased a new stake in Bloom Energy in the fourth quarter worth approximately $30,539,000. Raymond James Financial Inc. bought a new stake in Bloom Energy in the 4th quarter worth approximately $19,629,000. Bank of New York Mellon Corp raised its stake in Bloom Energy by 68.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,026,488 shares of the company’s stock valued at $22,798,000 after buying an additional 417,120 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new position in shares of Bloom Energy during the 3rd quarter valued at $3,762,000. 77.04% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Bloom Energy
In other news, insider Shawn Marie Soderberg sold 1,639 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the sale, the insider now directly owns 171,040 shares of the company’s stock, valued at $4,005,756.80. This represents a 0.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Satish Chitoori sold 1,020 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the transaction, the insider now owns 178,656 shares of the company’s stock, valued at $4,482,479.04. This represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.81% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts recently commented on BE shares. Morgan Stanley upped their price objective on Bloom Energy from $28.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Bank of America lowered their price objective on shares of Bloom Energy from $20.00 to $18.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. Roth Capital upgraded shares of Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. Susquehanna increased their price target on shares of Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a research report on Friday, December 6th. Finally, Mizuho started coverage on shares of Bloom Energy in a research note on Tuesday, March 18th. They set a “neutral” rating and a $28.00 price target on the stock. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $25.06.
Get Our Latest Analysis on Bloom Energy
Bloom Energy Trading Up 8.2 %
BE stock opened at $21.27 on Wednesday. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. Bloom Energy Co. has a 1-year low of $9.02 and a 1-year high of $29.83. The business has a 50 day simple moving average of $23.83 and a two-hundred day simple moving average of $19.98. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of -37.98 and a beta of 3.30.
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.
See Also
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