Erste Asset Management GmbH Takes $3.76 Million Position in Bloom Energy Co. (NYSE:BE)

Erste Asset Management GmbH purchased a new position in Bloom Energy Co. (NYSE:BE) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 351,617 shares of the company’s stock, valued at approximately $3,762,000. Erste Asset Management GmbH owned approximately 0.15% of Bloom Energy at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of BE. Electron Capital Partners LLC increased its stake in shares of Bloom Energy by 131.5% during the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock valued at $38,592,000 after purchasing an additional 1,790,733 shares in the last quarter. JAT Capital Mgmt LP raised its stake in Bloom Energy by 50.0% during the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock valued at $23,221,000 after buying an additional 733,363 shares during the last quarter. DigitalBridge Group Inc. boosted its holdings in Bloom Energy by 66.3% in the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock worth $14,203,000 after acquiring an additional 462,581 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in shares of Bloom Energy by 48.6% in the second quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company’s stock worth $10,644,000 after acquiring an additional 284,298 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Bloom Energy by 64.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 830,405 shares of the company’s stock valued at $11,017,000 after acquiring an additional 325,814 shares in the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

Bloom Energy Stock Performance

Shares of BE opened at $26.92 on Tuesday. The business has a 50-day simple moving average of $14.20 and a two-hundred day simple moving average of $13.35. 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 $8.41 and a 52 week high of $28.70. The stock has a market cap of $6.15 billion, a price-to-earnings ratio of -48.07 and a beta of 2.71.

Insider Buying and Selling

In related news, insider Shawn Marie Soderberg sold 1,289 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $24.56, for a total value of $31,657.84. Following the transaction, the insider now directly owns 168,561 shares of the company’s stock, valued at approximately $4,139,858.16. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kr Sridhar sold 46,697 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the sale, the chief executive officer now directly owns 1,822,496 shares of the company’s stock, valued at approximately $45,562,400. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 122,975 shares of company stock valued at $3,045,019. 8.81% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on BE shares. Jefferies Financial Group upped their price target on shares of Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, November 22nd. Morgan Stanley raised their price target on shares of Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Truist Financial lowered their price objective on Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday, October 16th. BTIG Research lifted their target price on Bloom Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Marathon Capitl raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Bloom Energy has an average rating of “Hold” and a consensus price target of $19.14.

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.