Hsbc Holdings PLC lessened its holdings in shares of Bloom Energy Co. (NYSE:BE - Free Report) by 50.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 460,127 shares of the company's stock after selling 473,274 shares during the quarter. Hsbc Holdings PLC owned 0.20% of Bloom Energy worth $10,268,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BE. Norges Bank acquired a new stake in shares of Bloom Energy during the fourth quarter worth about $93,951,000. Elemental Capital Partners LLC bought a new position in Bloom Energy in the fourth quarter valued at approximately $33,612,000. Trivest Advisors Ltd bought a new position in Bloom Energy in the fourth quarter valued at approximately $30,539,000. Wellington Management Group LLP increased its position in shares of Bloom Energy by 306.3% during the fourth quarter. Wellington Management Group LLP now owns 1,383,897 shares of the company's stock worth $30,736,000 after acquiring an additional 1,043,326 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Bloom Energy during the fourth quarter worth $19,629,000. 77.04% of the stock is currently owned by institutional investors.
Insider Activity at Bloom Energy
In related news, insider Satish Chitoori sold 1,020 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the transaction, the insider now owns 178,656 shares in the company, valued at approximately $4,482,479.04. This represents a 0.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.81% of the stock is owned by company insiders.
Bloom Energy Price Performance
NYSE:BE opened at $18.95 on Monday. The company has a quick ratio of 2.33, a current ratio of 3.36 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. The stock's 50 day moving average price is $21.11 and its two-hundred day moving average price is $20.93. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of -33.84 and a beta of 3.27.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. Roth Mkm lowered their target price on Bloom Energy from $26.00 to $20.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Piper Sandler dropped their target price on Bloom Energy from $33.00 to $31.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. JPMorgan Chase & Co. raised their price target on shares of Bloom Energy from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. BMO Capital Markets reiterated a "market perform" rating on shares of Bloom Energy in a report on Friday, February 28th. Finally, Hsbc Global Res upgraded shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Bloom Energy has a consensus rating of "Moderate Buy" and an average target price of $22.97.
Read Our Latest 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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