KBC Group NV reduced its stake in shares of Bloom Energy Co. (NYSE:BE - Free Report) by 58.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 216,408 shares of the company's stock after selling 305,779 shares during the quarter. KBC Group NV owned approximately 0.09% of Bloom Energy worth $4,806,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Mizuho Markets Americas LLC raised its holdings in Bloom Energy by 8.2% in the third quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company's stock worth $4,335,000 after purchasing an additional 31,189 shares in the last quarter. Duff & Phelps Investment Management Co. bought a new stake in Bloom Energy during the third quarter worth about $517,000. Parametrica Management Ltd purchased a new stake in Bloom Energy in the third quarter worth about $785,000. Edgestream Partners L.P. bought a new position in shares of Bloom Energy during the third quarter valued at approximately $3,274,000. Finally, Penserra Capital Management LLC lifted its holdings in shares of Bloom Energy by 20.7% during the third quarter. Penserra Capital Management LLC now owns 165,660 shares of the company's stock valued at $1,749,000 after purchasing an additional 28,416 shares during the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.
Bloom Energy Stock Performance
NYSE BE traded up $0.15 on Monday, hitting $23.73. 5,282,102 shares of the company traded hands, compared to its average volume of 7,592,499. The business's 50 day moving average price is $24.60 and its 200-day moving average price is $16.49. Bloom Energy Co. has a 52-week low of $8.41 and a 52-week high of $29.83. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of -42.37 and a beta of 3.06.
Analysts Set New Price Targets
A number of research firms recently weighed in on BE. Hsbc Global Res raised Bloom Energy to a "hold" rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. increased their price objective on shares of Bloom Energy from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Thursday, January 23rd. Robert W. Baird lifted their target price on shares of Bloom Energy from $15.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, December 12th. Royal Bank of Canada increased their price target on shares of Bloom Energy from $15.00 to $28.00 and gave the company an "outperform" rating in a report on Monday, November 18th. Finally, HSBC lowered shares of Bloom Energy from a "buy" rating to a "hold" rating and set a $24.50 price objective for the company. in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Bloom Energy currently has a consensus rating of "Hold" and a consensus target price of $23.13.
Check Out Our Latest Report on Bloom Energy
Insider Activity
In related news, CEO Kr Sridhar sold 72,903 shares of the 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 sale, the chief executive officer now owns 1,869,593 shares in the company, valued at approximately $46,777,216.86. This trade represents a 3.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,289 shares of the business's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $24.56, for a total value of $31,657.84. Following the completion of the transaction, the insider now directly owns 168,561 shares in the company, valued at approximately $4,139,858.16. This represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 122,528 shares of company stock valued at $3,061,501 in the last ninety days. Corporate insiders own 8.81% of the company's stock.
Bloom Energy Company 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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