DnB Asset Management AS Takes $3.78 Million Position in Bloom Energy Co. (NYSE:BE)

DnB Asset Management AS purchased a new stake in Bloom Energy Co. (NYSE:BE) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 170,162 shares of the company’s stock, valued at approximately $3,779,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SPX Gestao de Recursos Ltda acquired a new position in Bloom Energy in the fourth quarter valued at about $4,442,000. Duff & Phelps Investment Management Co. acquired a new position in shares of Bloom Energy in the 3rd quarter worth approximately $517,000. Mirae Asset Global Investments Co. Ltd. boosted 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 purchasing an additional 262,247 shares during the period. Edgestream Partners L.P. acquired a new stake in Bloom Energy in the 3rd quarter valued at approximately $3,274,000. Finally, Charles Schwab Investment Management Inc. raised its position 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 valued at $36,737,000 after purchasing an additional 10,265 shares during the period. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Stock Performance

Shares of Bloom Energy stock opened at $19.64 on Tuesday. The firm has a market capitalization of $4.53 billion, a P/E ratio of -35.07 and a beta of 3.30. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. Bloom Energy Co. has a 52 week low of $9.02 and a 52 week high of $29.83. The firm’s 50 day moving average is $23.92 and its two-hundred day moving average is $19.90.

Insider Buying and Selling

In related news, insider Satish Chitoori sold 1,020 shares of the firm’s 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 transaction, the insider now owns 178,656 shares in the company, valued at $4,482,479.04. This trade represents a 0.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction, the insider now owns 171,040 shares in the company, valued at approximately $4,005,756.80. This trade represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.81% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

BE has been the topic of several research reports. Bank of America decreased their target price on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. Morgan Stanley raised their price objective on shares of Bloom Energy from $28.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Roth Mkm began coverage on shares of Bloom Energy in a research note on Wednesday, December 11th. They set a “neutral” rating and a $25.00 target price on the stock. JPMorgan Chase & Co. raised their price target on shares of Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Finally, Roth Capital raised Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $25.06.

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.