Duff & Phelps Investment Management Co. Sells 23,128 Shares of Bloom Energy Co. (NYSE:BE)

Duff & Phelps Investment Management Co. lowered its position in Bloom Energy Co. (NYSE:BE) by 47.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 25,831 shares of the company’s stock after selling 23,128 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Bloom Energy were worth $574,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Millburn Ridgefield Corp grew its holdings in Bloom Energy by 29.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after buying an additional 528 shares in the last quarter. Mainstream Capital Management LLC purchased a new position in Bloom Energy during the fourth quarter valued at $28,000. Smartleaf Asset Management LLC grew its stake in Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after acquiring an additional 934 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in 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 in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Bloom Energy in the 3rd quarter worth $34,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Insider Activity at Bloom Energy

In other 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 transaction, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Satish Chitoori sold 1,020 shares of Bloom Energy 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 transaction, the insider now directly owns 178,656 shares in the company, valued at approximately $4,482,479.04. The trade was 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 owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Piper Sandler reduced their target price on Bloom Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Roth Capital raised Bloom Energy to a “hold” rating in a research note on Tuesday, December 10th. Roth Mkm assumed coverage on Bloom Energy in a research report on Wednesday, December 11th. They set a “neutral” rating and a $25.00 target price for the company. Morgan Stanley boosted their price target on shares of Bloom Energy from $28.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Finally, JPMorgan Chase & Co. increased their price objective 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. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $25.06.

Bloom Energy Trading Down 8.0 %

Shares of BE opened at $20.22 on Friday. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of -36.11 and a beta of 3.30. The company has a 50-day moving average of $24.00 and a 200 day moving average of $19.70. Bloom Energy Co. has a 1-year low of $9.02 and a 1-year high of $29.83.

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.