Duff & Phelps Investment Management Co. Cuts Stock Position in Bloom Energy Co. (NYSE:BE)

Duff & Phelps Investment Management Co. cut its holdings in Bloom Energy Co. (NYSE:BE - Free Report) by 47.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,831 shares of the company's stock after selling 23,128 shares during the quarter. Duff & Phelps Investment Management Co.'s holdings in Bloom Energy were worth $574,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC raised its position in shares of Bloom Energy by 291.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock worth $28,000 after acquiring an additional 934 shares in the last quarter. Mainstream Capital Management LLC purchased a new position in Bloom Energy in the fourth quarter valued at about $28,000. Jones Financial Companies Lllp raised its holdings in Bloom Energy by 120.5% in the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock worth $33,000 after purchasing an additional 812 shares in the last quarter. Avior Wealth Management LLC purchased a new stake in shares of Bloom Energy during the fourth quarter valued at about $40,000. Finally, Millburn Ridgefield Corp boosted its holdings in shares of Bloom Energy by 29.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company's stock valued at $25,000 after buying an additional 528 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors.

Bloom Energy Stock Performance

Shares of NYSE BE traded down $0.08 during trading on Wednesday, reaching $21.16. 1,277,405 shares of the company traded hands, compared to its average volume of 6,507,894. The stock has a market cap of $4.88 billion, a P/E ratio of -37.79 and a beta of 3.30. The firm's fifty day simple moving average is $23.83 and its 200 day simple moving average is $19.98. 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 12-month low of $9.02 and a 12-month high of $29.83.

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Insider Buying and Selling

In related news, insider Satish Chitoori sold 1,020 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the sale, the insider now owns 178,656 shares in the company, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,639 shares of the company's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the transaction, the insider now owns 171,040 shares of the company's stock, valued at approximately $4,005,756.80. This trade represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. BMO Capital Markets reissued a "market perform" rating on shares of Bloom Energy in a research report on Friday, February 28th. Robert W. Baird increased their price objective on Bloom Energy from $15.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday, December 12th. Roth Capital upgraded Bloom Energy to a "hold" rating in a research note on Tuesday, December 10th. Susquehanna upped their target price on Bloom Energy from $20.00 to $33.00 and gave the company a "positive" rating in a research report on Friday, December 6th. Finally, Piper Sandler lowered their price target on Bloom Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $25.06.

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.