Duff & Phelps Investment Management Co. acquired a new position in shares of Bloom Energy Co. (NYSE:BE - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 48,959 shares of the company's stock, valued at approximately $517,000.
Several other hedge funds and other institutional investors have also bought and sold shares of BE. Electron Capital Partners LLC increased its stake in shares of 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 purchasing an additional 1,790,733 shares during the last quarter. JAT Capital Mgmt LP lifted its stake in Bloom Energy by 50.0% in the 3rd quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company's stock valued at $23,221,000 after purchasing an additional 733,363 shares during the last quarter. DigitalBridge Group Inc. boosted its holdings in shares of Bloom Energy by 66.3% during the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company's stock valued at $14,203,000 after acquiring an additional 462,581 shares in the last quarter. Pier Capital LLC acquired a new stake in shares of Bloom Energy during the second quarter valued at about $5,602,000. Finally, Erste Asset Management GmbH bought a new stake in Bloom Energy during the 3rd quarter worth approximately $3,762,000. Institutional investors and hedge funds own 77.04% of the company's stock.
Insider Activity
In related news, insider Shawn Marie Soderberg sold 1,289 shares of the business's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $24.56, for a total transaction of $31,657.84. Following the sale, the insider now directly owns 168,561 shares in the company, valued at approximately $4,139,858.16. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kr Sridhar sold 46,697 shares of the firm's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $25.00, for a total value of $1,167,425.00. Following the completion of the transaction, the chief executive officer now owns 1,822,496 shares of the company's stock, valued at approximately $45,562,400. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 122,975 shares of company stock valued at $3,045,019 over the last quarter. Company insiders own 8.81% of the company's stock.
Bloom Energy Stock Performance
Bloom Energy stock traded down $3.11 during midday trading on Tuesday, reaching $23.47. The stock had a trading volume of 15,034,571 shares, compared to its average volume of 6,588,938. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The firm has a market capitalization of $5.36 billion, a PE ratio of -41.91 and a beta of 3.04. Bloom Energy Co. has a 12 month low of $8.41 and a 12 month high of $28.70. The firm's 50-day moving average price is $16.06 and its 200 day moving average price is $13.81.
Analysts Set New Price Targets
Several equities analysts recently issued reports on BE shares. Morgan Stanley boosted their target price on shares of Bloom Energy from $20.00 to $28.00 and gave the company an "overweight" rating in a report on Monday, November 18th. Bank of America boosted their price objective on Bloom Energy from $7.00 to $20.00 and gave the company an "underperform" rating in a research note on Monday. Robert W. Baird decreased their target price on Bloom Energy from $18.00 to $15.00 and set an "outperform" rating for the company in a research note on Friday, November 8th. Hsbc Global Res upgraded Bloom Energy to a "hold" rating in a report on Wednesday, November 20th. Finally, BMO Capital Markets increased their price target on Bloom Energy from $12.00 to $19.50 and gave the stock a "market perform" rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $20.81.
View Our Latest Research Report on Bloom Energy
About Bloom Energy
(
Free Report)
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.
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