Erste Asset Management GmbH Acquires Shares of 351,617 Bloom Energy Co. (NYSE:BE)

Erste Asset Management GmbH acquired a new position in shares of Bloom Energy Co. (NYSE:BE - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 351,617 shares of the company's stock, valued at approximately $3,762,000. Erste Asset Management GmbH owned about 0.15% of Bloom Energy as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. ORG Partners LLC purchased a new position in shares of Bloom Energy during the 2nd quarter worth about $40,000. Quest Partners LLC grew its position in Bloom Energy by 2,780.0% in the second quarter. Quest Partners LLC now owns 3,600 shares of the company's stock valued at $44,000 after acquiring an additional 3,475 shares in the last quarter. Gilliland Jeter Wealth Management LLC acquired a new stake in Bloom Energy in the second quarter valued at approximately $53,000. Mather Group LLC. acquired a new stake in Bloom Energy in the second quarter valued at approximately $66,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in Bloom Energy in the third quarter valued at approximately $74,000. Hedge funds and other institutional investors own 77.04% of the company's stock.

Analyst Ratings Changes

BE has been the subject of several recent research reports. Piper Sandler increased their price objective on shares of Bloom Energy from $20.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. BTIG Research increased their price objective on shares of Bloom Energy from $16.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Morgan Stanley raised their price target on shares of Bloom Energy from $20.00 to $28.00 and gave the stock an "overweight" rating in a research report on Monday, November 18th. Royal Bank of Canada raised their price target on shares of Bloom Energy from $15.00 to $28.00 and gave the stock an "outperform" rating in a research report on Monday, November 18th. Finally, Hsbc Global Res raised shares of Bloom Energy to a "hold" rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $19.14.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 46,697 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the transaction, the chief executive officer now owns 1,822,496 shares in the company, valued at $45,562,400. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Shawn Marie Soderberg sold 1,289 shares of the firm'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 completion of the sale, the insider now 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 disclosure for this sale can be found here. Insiders have sold a total of 122,975 shares of company stock worth $3,045,019 over the last 90 days. Insiders own 3.50% of the company's stock.

Bloom Energy Stock Down 2.9 %

BE traded down $0.78 during midday trading on Tuesday, hitting $26.14. 7,808,505 shares of the company's stock traded hands, compared to its average volume of 13,878,578. The company has a market cap of $5.98 billion, a PE ratio of -46.68 and a beta of 3.04. The stock's fifty day simple moving average is $14.51 and its 200-day simple moving average is $13.44. 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 one year low of $8.41 and a one year high of $28.70.

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.