351,617 Shares in Bloom Energy Co. (NYSE:BE) Purchased by Erste Asset Management GmbH

Erste Asset Management GmbH purchased a new stake in shares of Bloom Energy Co. (NYSE:BE) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 351,617 shares of the company’s stock, valued at approximately $3,762,000.

A number of other large investors have also added to or reduced their stakes in BE. ORG Partners LLC bought a new stake in shares of Bloom Energy in the 2nd quarter worth about $40,000. Quest Partners LLC raised its position in Bloom Energy by 2,780.0% during the second quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after purchasing an additional 3,475 shares during the period. Gilliland Jeter Wealth Management LLC purchased a new stake in Bloom Energy during the second quarter valued at approximately $53,000. Mather Group LLC. bought a new stake in shares of Bloom Energy in the 2nd quarter valued at approximately $66,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in shares of Bloom Energy in the 3rd quarter worth approximately $74,000. Institutional investors own 77.04% of the company’s stock.

Insiders Place Their Bets

In other Bloom Energy news, CEO Kr Sridhar sold 46,697 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $25.00, for a total value of $1,167,425.00. Following the completion of the transaction, the chief executive officer now directly owns 1,822,496 shares in the company, valued at approximately $45,562,400. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Shawn Marie Soderberg sold 1,289 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $24.56, for a total transaction of $31,657.84. Following the completion of the sale, the insider now owns 168,561 shares in the company, valued at $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 sold a total of 122,975 shares of company stock worth $3,045,019 over the last 90 days. Company insiders own 8.81% of the company’s stock.

Bloom Energy Price Performance

Shares of BE opened at $26.92 on Tuesday. The stock has a market capitalization of $6.15 billion, a PE ratio of -48.07 and a beta of 2.71. The company has a 50 day moving average price of $14.20 and a 200-day moving average price of $13.35. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. Bloom Energy Co. has a fifty-two week low of $8.41 and a fifty-two week high of $28.70.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BE shares. Marathon Capitl upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Piper Sandler raised their target price on shares of Bloom Energy from $20.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. BTIG Research upped their price target on shares of Bloom Energy from $16.00 to $20.00 and gave the company a “buy” rating in a report on Friday, November 15th. Hsbc Global Res raised shares of Bloom Energy to a “hold” rating in a research note on Wednesday, November 20th. Finally, Truist Financial cut their target price on Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $19.14.

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.