International Assets Investment Management LLC Sells 166,363 Shares of Bloom Energy Co. (NYSE:BE)

International Assets Investment Management LLC cut its holdings in shares of Bloom Energy Co. (NYSE:BE - Free Report) by 89.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,965 shares of the company's stock after selling 166,363 shares during the quarter. International Assets Investment Management LLC's holdings in Bloom Energy were worth $443,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Electron Capital Partners LLC increased its holdings in Bloom Energy by 131.5% in the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company's stock valued at $38,592,000 after buying an additional 1,790,733 shares during the period. JAT Capital Mgmt LP increased its stake in Bloom Energy by 50.0% in the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company's stock valued at $23,221,000 after acquiring an additional 733,363 shares during the last quarter. DigitalBridge Group Inc. raised its position in Bloom Energy by 66.3% during the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company's stock valued at $14,203,000 after purchasing an additional 462,581 shares in the last quarter. Erste Asset Management GmbH bought a new stake in Bloom Energy during the third quarter worth $3,762,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Bloom Energy by 64.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 830,405 shares of the company's stock valued at $11,017,000 after purchasing an additional 325,814 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Stock Down 2.9 %

NYSE BE traded down $0.70 during mid-day trading on Friday, hitting $23.68. The company's stock had a trading volume of 4,712,961 shares, compared to its average volume of 5,537,624. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of -42.28 and a beta of 3.06. The company's 50 day simple moving average is $22.45 and its 200 day simple moving average is $15.29. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. Bloom Energy Co. has a twelve month low of $8.41 and a twelve month high of $28.70.

Insider Activity

In related news, insider Shawn Marie Soderberg sold 1,289 shares of the business's 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 transaction, the insider now directly owns 168,561 shares of the company's stock, valued at approximately $4,139,858.16. The trade was a 0.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kr Sridhar sold 72,903 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the transaction, the chief executive officer now directly owns 1,869,593 shares of the company's stock, valued at $46,777,216.86. This represents a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 122,975 shares of company stock worth $3,045,019 over the last three months. 8.81% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BE shares. Piper Sandler boosted their price target on Bloom Energy from $20.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday, November 22nd. Bank of America boosted their target price on Bloom Energy from $7.00 to $20.00 and gave the stock an "underperform" rating in a research note on Monday, December 9th. Roth Mkm began coverage on shares of Bloom Energy in a research note on Wednesday, December 11th. They issued a "neutral" rating and a $25.00 price target on the stock. Royal Bank of Canada upped their price target on shares of Bloom Energy from $15.00 to $28.00 and gave the stock an "outperform" rating in a report on Monday, November 18th. Finally, UBS Group boosted their target price on shares of Bloom Energy from $21.00 to $33.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $22.45.

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.