Flputnam Investment Management Co. Sells 74,728 Shares of Bloom Energy Co. (NYSE:BE)

Flputnam Investment Management Co. lowered its position in shares of Bloom Energy Co. (NYSE:BE - Free Report) by 44.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,958 shares of the company's stock after selling 74,728 shares during the period. Flputnam Investment Management Co.'s holdings in Bloom Energy were worth $2,042,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Millburn Ridgefield Corp grew its stake in Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company's stock valued at $25,000 after acquiring an additional 528 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Bloom Energy during the third quarter valued at approximately $34,000. Avior Wealth Management LLC purchased a new position in Bloom Energy during the fourth quarter valued at approximately $40,000. GAMMA Investing LLC grew its stake in Bloom Energy by 26.8% during the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company's stock valued at $60,000 after acquiring an additional 569 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in Bloom Energy during the third quarter valued at approximately $74,000. Hedge funds and other institutional investors own 77.04% of the company's stock.

Insider Activity at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the company's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the sale, the insider now directly owns 171,040 shares in the company, valued at $4,005,756.80. This represents a 0.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.50% of the stock is currently owned by company insiders.

Bloom Energy Trading Down 8.1 %

Shares of Bloom Energy stock traded down $1.95 during trading on Thursday, reaching $22.17. The company's stock had a trading volume of 3,527,105 shares, compared to its average volume of 6,769,010. The firm's 50-day moving average is $24.04 and its two-hundred day moving average is $18.33. Bloom Energy Co. has a 52-week low of $8.82 and a 52-week high of $29.83. 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 company has a market cap of $5.07 billion, a price-to-earnings ratio of -39.59 and a beta of 3.30.

Wall Street Analysts Forecast Growth

BE has been the subject of several recent analyst reports. Piper Sandler reduced their price objective on shares of Bloom Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Roth Mkm initiated 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 for the company. Royal Bank of Canada boosted their price target on shares of Bloom Energy from $15.00 to $28.00 and gave the stock an "outperform" rating in a research note on Monday, November 18th. Susquehanna boosted their price target on shares of Bloom Energy from $20.00 to $33.00 and gave the stock a "positive" rating in a research note on Friday, December 6th. Finally, Robert W. Baird boosted their price target on shares of Bloom Energy from $15.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $24.47.

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.