Bloom Energy Co. (NYSE:BE) Stock Position Decreased by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its stake in Bloom Energy Co. (NYSE:BE) by 35.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,743 shares of the company’s stock after selling 13,991 shares during the quarter. Russell Investments Group Ltd.’s holdings in Bloom Energy were worth $572,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BE. Wilmington Savings Fund Society FSB purchased a new position in Bloom Energy in the 3rd quarter worth about $34,000. Peapack Gladstone Financial Corp increased its position in shares of Bloom Energy by 4.4% in the third quarter. Peapack Gladstone Financial Corp now owns 271,924 shares of the company’s stock worth $2,871,000 after acquiring an additional 11,525 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Bloom Energy by 62.4% during the third quarter. Franklin Resources Inc. now owns 125,598 shares of the company’s stock valued at $1,314,000 after acquiring an additional 48,258 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in shares of Bloom Energy by 21.8% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 21,404 shares of the company’s stock valued at $226,000 after acquiring an additional 3,824 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Bloom Energy by 26.8% in the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after purchasing an additional 569 shares during the period. 77.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BE shares. Hsbc Global Res raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Jefferies Financial Group reduced their price objective on Bloom Energy from $25.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday, April 16th. TD Cowen lifted their target price on Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, February 28th. Robert W. Baird dropped their target price on Bloom Energy from $32.00 to $27.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Finally, Morgan Stanley raised their price target on shares of Bloom Energy from $28.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Bloom Energy presently has an average rating of “Moderate Buy” and an average price target of $22.97.

Insider Buying and Selling

In related news, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction on Monday, March 17th. The shares were sold at an average price of $25.09, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 8.81% of the company’s stock.

Bloom Energy Stock Performance

BE opened at $16.87 on Wednesday. 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 $3.89 billion, a PE ratio of -30.12 and a beta of 3.27. The stock has a 50-day moving average of $21.56 and a 200-day moving average of $20.70. Bloom Energy Co. has a 52-week low of $9.02 and a 52-week 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.