Van ECK Associates Corp Buys 119,561 Shares of Bloom Energy Co. (NYSE:BE)

Van ECK Associates Corp increased its stake in Bloom Energy Co. (NYSE:BE - Free Report) by 16.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 849,579 shares of the company's stock after acquiring an additional 119,561 shares during the period. Van ECK Associates Corp owned approximately 0.38% of Bloom Energy worth $12,574,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Millburn Ridgefield Corp bought a new stake in Bloom Energy during the third quarter worth approximately $33,000. Allspring Global Investments Holdings LLC boosted its holdings in Bloom Energy by 17.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the company's stock worth $102,000 after buying an additional 1,117 shares in the last quarter. AM Investment Strategies LLC bought a new stake in Bloom Energy during the third quarter worth approximately $133,000. Tsfg LLC lifted its position in shares of Bloom Energy by 11.1% in the 4th quarter. Tsfg LLC now owns 10,006 shares of the company's stock valued at $148,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Robertson Stephens Wealth Management LLC lifted its position in shares of Bloom Energy by 21.3% in the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 13,293 shares of the company's stock valued at $176,000 after acquiring an additional 2,334 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BE has been the subject of several research analyst reports. JPMorgan Chase & Co. downgraded shares of Bloom Energy from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $19.00 to $14.00 in a research report on Friday, February 16th. KeyCorp downgraded shares of Bloom Energy from an "overweight" rating to a "sector weight" rating in a research report on Friday, February 16th. Morgan Stanley reiterated an "overweight" rating and issued a $22.00 target price on shares of Bloom Energy in a research report on Monday, March 25th. Royal Bank of Canada cut their target price on shares of Bloom Energy from $21.00 to $14.00 and set an "outperform" rating for the company in a research report on Friday, February 16th. Finally, BTIG Research began coverage on shares of Bloom Energy in a research report on Thursday, January 25th. They issued a "buy" rating and a $21.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.69.

Bloom Energy Price Performance

Shares of NYSE:BE traded up $0.36 during midday trading on Friday, reaching $11.80. 4,197,566 shares of the company's stock were exchanged, compared to its average volume of 5,558,465. Bloom Energy Co. has a 12 month low of $8.41 and a 12 month high of $18.76. The firm has a market capitalization of $2.65 billion, a PE ratio of -8.14 and a beta of 2.77. The company's 50 day simple moving average is $10.32 and its two-hundred day simple moving average is $11.67. The company has a debt-to-equity ratio of 2.41, a quick ratio of 2.53 and a current ratio of 3.60.

Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.11. Bloom Energy had a negative net margin of 22.66% and a negative return on equity of 23.88%. The firm had revenue of $356.92 million during the quarter, compared to the consensus estimate of $481.90 million. Equities research analysts expect that Bloom Energy Co. will post -0.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bloom Energy news, EVP Shawn Marie Soderberg sold 13,120 shares of the business's stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $9.34, for a total value of $122,540.80. Following the completion of the transaction, the executive vice president now directly owns 73,946 shares of the company's stock, valued at $690,655.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Shawn Marie Soderberg sold 13,120 shares of Bloom Energy stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $9.34, for a total transaction of $122,540.80. Following the completion of the sale, the executive vice president now owns 73,946 shares in the company, valued at approximately $690,655.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kr Sridhar sold 50,746 shares of Bloom Energy stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $9.74, for a total transaction of $494,266.04. Following the sale, the chief executive officer now owns 2,702,608 shares of the company's stock, valued at approximately $26,323,401.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 74,989 shares of company stock valued at $725,292. Insiders own 8.81% of the company's stock.

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.