Franklin Resources Inc. grew its holdings in shares of Bloom Energy Co. (NYSE:BE - Free Report) by 62.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 125,598 shares of the company's stock after acquiring an additional 48,258 shares during the period. Franklin Resources Inc. owned about 0.05% of Bloom Energy worth $1,314,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of BE. Millburn Ridgefield Corp increased its position in Bloom Energy by 29.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company's stock valued at $25,000 after purchasing an additional 528 shares during the period. Xponance Inc. increased its position in shares of Bloom Energy by 7.8% during the second quarter. Xponance Inc. now owns 12,542 shares of the company's stock worth $154,000 after buying an additional 903 shares during the period. Kovitz Investment Group Partners LLC raised its stake in Bloom Energy by 3.9% during the third quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company's stock worth $374,000 after buying an additional 1,349 shares during the last quarter. Arizona State Retirement System lifted its holdings in Bloom Energy by 2.7% in the second quarter. Arizona State Retirement System now owns 56,886 shares of the company's stock valued at $696,000 after buying an additional 1,470 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in Bloom Energy during the third quarter valued at $34,000. Institutional investors own 77.04% of the company's stock.
Bloom Energy Stock Performance
BE stock traded down $1.43 during midday trading on Friday, reaching $22.90. 5,036,188 shares of the company's stock traded hands, compared to its average volume of 6,536,908. The firm has a market capitalization of $5.23 billion, a PE ratio of -40.89 and a beta of 3.04. The company has a 50-day moving average price of $19.65 and a two-hundred day moving average price of $14.61. Bloom Energy Co. has a 52 week low of $8.41 and a 52 week high of $28.70. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.
Wall Street Analyst Weigh In
Several analysts have recently commented on BE shares. Morgan Stanley raised their price objective 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. Hsbc Global Res upgraded shares of Bloom Energy to a "hold" rating in a report on Wednesday, November 20th. HSBC lowered shares of Bloom Energy from a "buy" rating to a "hold" rating and set a $24.50 price objective on the stock. in a report on Wednesday, November 20th. Jefferies Financial Group boosted their target price on Bloom Energy from $12.00 to $22.00 and gave the company a "hold" rating in a research report on Friday, November 22nd. Finally, BTIG Research increased their price target on Bloom Energy from $20.00 to $30.00 and gave the stock a "buy" rating in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Bloom Energy currently has an average rating of "Hold" and a consensus price target of $22.45.
View Our Latest Research Report on Bloom Energy
Insider Transactions at Bloom Energy
In related news, CEO Kr Sridhar sold 72,903 shares of the business's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the completion of the transaction, the chief executive officer now directly owns 1,869,593 shares in the company, valued at $46,777,216.86. The trade was a 3.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy 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 sale, the insider now owns 168,561 shares of the company's stock, valued at approximately $4,139,858.16. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 122,975 shares of company stock valued at $3,045,019. 8.81% of the stock is currently owned by corporate insiders.
Bloom Energy Profile
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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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