Van ECK Associates Corp Sells 342,149 Shares of Bloom Energy Co. (NYSE:BE)

Van ECK Associates Corp lowered its holdings in Bloom Energy Co. (NYSE:BE - Free Report) by 51.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 319,783 shares of the company's stock after selling 342,149 shares during the period. Van ECK Associates Corp owned about 0.14% of Bloom Energy worth $7,102,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BE. Millburn Ridgefield Corp raised its stake in shares of Bloom Energy by 29.2% during 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 in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Bloom Energy during the third quarter worth $34,000. Avior Wealth Management LLC acquired a new stake in Bloom Energy in the fourth quarter valued at $40,000. GAMMA Investing LLC grew its position in shares of Bloom Energy by 26.8% in the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company's stock valued at $60,000 after acquiring an additional 569 shares during the period. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in shares of Bloom Energy during the 3rd quarter worth about $74,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction of $38,385.38. Following the sale, the insider now directly owns 171,040 shares in the company, 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 SEC, which is available at the SEC website. Corporate insiders own 8.81% of the company's stock.

Bloom Energy Price Performance

Shares of NYSE BE traded down $1.88 during midday trading on Friday, reaching $24.11. The company's stock had a trading volume of 4,793,558 shares, compared to its average volume of 6,343,472. 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 company has a market cap of $5.51 billion, a P/E ratio of -43.05 and a beta of 3.06. The business's 50 day moving average price is $24.22 and its two-hundred day moving average price is $17.61. Bloom Energy Co. has a fifty-two week low of $8.41 and a fifty-two week high of $29.83.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BE shares. Roth Capital upgraded shares of Bloom Energy to a "hold" rating in a research note on Tuesday, December 10th. HSBC cut Bloom Energy from a "buy" rating to a "hold" rating and set a $24.50 price objective for the company. in a research report on Wednesday, November 20th. Marathon Capitl raised Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, November 11th. Piper Sandler raised their price target on Bloom Energy from $30.00 to $33.00 and gave the company an "overweight" rating in a report on Monday, January 27th. Finally, Robert W. Baird upped their price objective on shares of Bloom Energy from $15.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $24.18.

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.