Raymond James Financial Inc. acquired a new stake in Bloom Energy Co. (NYSE:BE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 883,792 shares of the company's stock, valued at approximately $19,629,000. Raymond James Financial Inc. owned 0.39% of Bloom Energy at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Bloom Energy by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company's stock worth $427,194,000 after acquiring an additional 356,317 shares during the period. Norges Bank acquired a new stake in Bloom Energy during the fourth quarter worth approximately $93,951,000. Legal & General Group Plc raised its holdings in Bloom Energy by 7.3% in the 4th quarter. Legal & General Group Plc now owns 2,133,318 shares of the company's stock valued at $47,381,000 after acquiring an additional 144,616 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Bloom Energy by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company's stock valued at $36,737,000 after acquiring an additional 10,265 shares during the period. Finally, Elemental Capital Partners LLC acquired a new stake in shares of Bloom Energy during the 4th quarter worth $33,612,000. 77.04% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
BE has been the topic of a number of analyst reports. Mizuho assumed coverage on shares of Bloom Energy in a research note on Tuesday, March 18th. They set a "neutral" rating and a $28.00 price objective on the stock. Robert W. Baird reduced 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. JPMorgan Chase & Co. boosted their price target on Bloom Energy from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Thursday, January 23rd. Roth Mkm cut their price target on Bloom Energy from $26.00 to $20.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Finally, Jefferies Financial Group reduced their price objective on shares of Bloom Energy from $25.00 to $19.00 and set a "hold" rating on the stock in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $22.97.
View Our Latest Stock Analysis on Bloom Energy
Bloom Energy Stock Up 3.2 %
Bloom Energy stock traded up $0.58 during mid-day trading on Friday, reaching $18.72. The stock had a trading volume of 1,617,940 shares, compared to its average volume of 6,696,207. The stock's 50-day simple moving average is $21.25 and its 200-day simple moving average is $20.73. Bloom Energy Co. has a fifty-two week low of $9.02 and a fifty-two week high of $29.83. 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 firm has a market capitalization of $4.31 billion, a PE ratio of -33.43 and a beta of 3.27.
Insiders Place Their Bets
In other news, insider Satish Chitoori sold 1,020 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the sale, the insider now directly owns 178,656 shares of the company's stock, valued at $4,482,479.04. This represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 8.81% of the company's stock.
Bloom Energy Profile
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Free Report)
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.
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