Bloom Energy Co. (NYSE:BE) Shares Sold by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its position in shares of Bloom Energy Co. (NYSE:BE - Free Report) by 18.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,859 shares of the company's stock after selling 15,201 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Bloom Energy were worth $1,650,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its position in Bloom Energy by 9.1% in the third quarter. Captrust Financial Advisors now owns 170,013 shares of the company's stock worth $1,795,000 after acquiring an additional 14,130 shares in the last quarter. Erste Asset Management GmbH purchased a new position in shares of Bloom Energy in the 3rd quarter valued at about $3,762,000. Cinctive Capital Management LP lifted its stake in shares of Bloom Energy by 194.4% in the third quarter. Cinctive Capital Management LP now owns 58,875 shares of the company's stock valued at $622,000 after purchasing an additional 38,875 shares during the period. Centiva Capital LP boosted its holdings in Bloom Energy by 1,364.0% during the third quarter. Centiva Capital LP now owns 40,966 shares of the company's stock worth $433,000 after buying an additional 44,207 shares in the last quarter. Finally, Millburn Ridgefield Corp boosted its holdings in Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company's stock worth $25,000 after buying an additional 528 shares in the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

Bloom Energy Trading Down 13.9 %

Bloom Energy stock traded down $2.69 during midday trading on Friday, reaching $16.65. The stock had a trading volume of 16,339,741 shares, compared to its average volume of 6,699,947. The stock has a market capitalization of $3.84 billion, a PE ratio of -29.73 and a beta of 3.27. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The stock's 50-day simple moving average is $23.31 and its 200 day simple moving average is $20.17. Bloom Energy Co. has a twelve month low of $9.02 and a twelve month high of $29.83.

Insider Buying and Selling

In other news, insider Shawn Marie Soderberg sold 1,639 shares of the company's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $23.42, for a total value of $38,385.38. Following the completion of the sale, the insider now owns 171,040 shares of the company's stock, valued at $4,005,756.80. This represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Satish Chitoori sold 1,020 shares of the firm'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 sale, the insider now owns 178,656 shares in the company, valued at approximately $4,482,479.04. The trade was a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.81% of the company's stock.

Analysts Set New Price Targets

BE has been the subject of several research reports. Roth Capital raised Bloom Energy to a "hold" rating in a report on Tuesday, December 10th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Bloom Energy in a research note on Friday, February 28th. Mizuho assumed coverage on Bloom Energy in a research report on Tuesday, March 18th. They set a "neutral" rating and a $28.00 price target for the company. Morgan Stanley increased their price objective on Bloom Energy from $28.00 to $35.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Finally, Truist Financial boosted their target price on shares of Bloom Energy from $11.00 to $22.00 and gave the company a "hold" rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $25.06.

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.