Raymond James Financial Inc. Takes Position in Bloom Energy Co. (NYSE:BE)

Raymond James Financial Inc. acquired a new position in Bloom Energy Co. (NYSE:BE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 883,792 shares of the company's stock, valued at approximately $19,629,000. Raymond James Financial Inc. owned approximately 0.39% of Bloom Energy at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BE. Millburn Ridgefield Corp raised its position in shares of Bloom Energy by 29.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company's stock worth $25,000 after purchasing an additional 528 shares during the last quarter. Mainstream Capital Management LLC purchased a new position in shares of Bloom Energy in the 4th quarter worth about $28,000. Smartleaf Asset Management LLC raised its position in shares of Bloom Energy by 291.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock worth $28,000 after purchasing an additional 934 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Bloom Energy by 120.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock worth $33,000 after purchasing an additional 812 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Bloom Energy in the 3rd quarter worth about $34,000. Institutional investors own 77.04% of the company's stock.

Bloom Energy Stock Performance

Bloom Energy stock traded up $1.15 during midday trading on Thursday, hitting $25.46. The stock had a trading volume of 11,347,880 shares, compared to its average volume of 6,661,492. The firm's fifty day moving average is $24.08 and its two-hundred day moving average is $19.18. The company has a market capitalization of $5.87 billion, a PE ratio of -45.46 and a beta of 3.30. Bloom Energy Co. has a 52-week low of $9.02 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.

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Insider Buying and Selling

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $4,005,756.80. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Satish Chitoori sold 1,020 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the sale, the insider now directly owns 178,656 shares of the company's stock, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.81% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BE. JPMorgan Chase & Co. lifted their price target on Bloom Energy from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Thursday, January 23rd. Piper Sandler lowered their price target on Bloom Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. BTIG Research lifted their price target on Bloom Energy from $20.00 to $30.00 and gave the stock a "buy" rating in a research report on Monday, December 16th. UBS Group boosted their target price on Bloom Energy from $21.00 to $33.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Finally, Morgan Stanley boosted their target price on Bloom Energy from $28.00 to $35.00 and gave the stock an "overweight" rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $25.06.

Bloom Energy Company Profile

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.