Vanguard Group Inc. Raises Position in Bloom Energy Co. (NYSE:BE)

Vanguard Group Inc. raised its position in Bloom Energy Co. (NYSE:BE - Free Report) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,234,329 shares of the company's stock after purchasing an additional 356,317 shares during the quarter. Vanguard Group Inc. owned 8.41% of Bloom Energy worth $427,194,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BE. SPX Gestao de Recursos Ltda bought a new position in Bloom Energy in the 4th quarter worth about $4,442,000. Duff & Phelps Investment Management Co. purchased a new stake in shares of Bloom Energy in the 3rd quarter worth $517,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Bloom Energy by 184.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 404,204 shares of the company's stock worth $9,209,000 after buying an additional 262,247 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Bloom Energy by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company's stock worth $36,737,000 after acquiring an additional 10,265 shares during the period. Finally, Bailard Inc. bought a new stake in shares of Bloom Energy in the 4th quarter valued at about $1,278,000. 77.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on BE. JPMorgan Chase & Co. lifted their price objective on shares of Bloom Energy from $14.00 to $16.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. Robert W. Baird boosted their price target on Bloom Energy from $15.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, December 12th. Piper Sandler dropped their price objective 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. BMO Capital Markets reiterated a "market perform" rating on shares of Bloom Energy in a report on Friday, February 28th. Finally, Roth Mkm began coverage on shares of Bloom Energy in a report on Wednesday, December 11th. They issued a "neutral" rating and a $25.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Bloom Energy currently has an average rating of "Hold" and an average target price of $25.06.

Bloom Energy Stock Performance

NYSE:BE traded down $2.69 during midday trading on Friday, hitting $16.65. The company's stock had a trading volume of 16,339,741 shares, compared to its average volume of 6,699,947. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. Bloom Energy Co. has a fifty-two week low of $9.02 and a fifty-two week high of $29.83. The firm's 50 day moving average is $23.31 and its 200-day moving average is $20.17. The firm has a market cap of $3.84 billion, a P/E ratio of -29.73 and a beta of 3.27.

Insider Activity at Bloom Energy

In related news, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the completion of the transaction, the insider now directly owns 178,656 shares in the company, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,639 shares of the firm's stock in a transaction that occurred on Thursday, January 16th. The stock was 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. The trade was a 0.95 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is currently owned by insiders.

Bloom Energy 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.