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

Duff & Phelps Investment Management Co. lessened its position in shares of Bloom Energy Co. (NYSE:BE) by 47.2% in the 4th quarter, HoldingsChannel reports. The fund 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Bloom Energy during the fourth quarter worth $93,951,000. Elemental Capital Partners LLC acquired a new position in Bloom Energy during the 4th quarter valued at about $33,612,000. Trivest Advisors Ltd purchased a new stake in Bloom Energy in the fourth quarter valued at about $30,539,000. Raymond James Financial Inc. acquired a new stake in Bloom Energy in the fourth quarter worth about $19,629,000. Finally, JAT Capital Mgmt LP grew its stake in shares of Bloom Energy by 50.0% during the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock worth $23,221,000 after acquiring an additional 733,363 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Insider Buying and Selling at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $23.42, for a total value of $38,385.38. Following the sale, the insider now directly owns 171,040 shares in the company, valued at approximately $4,005,756.80. The trade was a 0.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Satish Chitoori sold 1,020 shares of the business’s 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 sale, the insider now owns 178,656 shares of the company’s stock, valued at approximately $4,482,479.04. This trade represents 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 corporate insiders.

Bloom Energy Price Performance

NYSE:BE opened at $20.22 on Friday. The stock has a market capitalization of $4.66 billion, a PE ratio of -36.11 and a beta of 3.30. Bloom Energy Co. has a 52 week low of $9.02 and a 52 week high of $29.83. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The stock’s 50-day moving average price is $24.00 and its 200-day moving average price is $19.70.

Analyst Ratings Changes

A number of research firms recently commented on BE. JPMorgan Chase & Co. lifted their target price on shares of Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Roth Capital raised shares of Bloom Energy to a “hold” rating in a report on Tuesday, December 10th. BMO Capital Markets restated a “market perform” rating on shares of Bloom Energy in a research note on Friday, February 28th. Truist Financial boosted their price target on Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Finally, BTIG Research raised their price objective on Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $25.06.

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.