Iridian Asset Management LLC CT Sells 5,354 Shares of Bloom Energy Co. (NYSE:BE)

Iridian Asset Management LLC CT reduced its stake in shares of Bloom Energy Co. (NYSE:BE) by 8.5% during the 4th quarter, HoldingsChannel reports. The fund owned 57,597 shares of the company’s stock after selling 5,354 shares during the period. Iridian Asset Management LLC CT’s holdings in Bloom Energy were worth $1,279,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Mizuho Markets Americas LLC boosted its position in shares of Bloom Energy by 8.2% during the third quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company’s stock valued at $4,335,000 after buying an additional 31,189 shares during the period. Duff & Phelps Investment Management Co. purchased a new stake in shares of Bloom Energy during the third quarter valued at $517,000. Parametrica Management Ltd bought a new position in shares of Bloom Energy in the third quarter worth about $785,000. Edgestream Partners L.P. bought a new position in shares of Bloom Energy in the third quarter worth about $3,274,000. Finally, Penserra Capital Management LLC increased its stake in Bloom Energy by 20.7% in the 3rd quarter. Penserra Capital Management LLC now owns 165,660 shares of the company’s stock worth $1,749,000 after buying an additional 28,416 shares during the period. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Trading Up 1.6 %

Bloom Energy stock opened at $24.64 on Friday. The business has a fifty day moving average price of $24.43 and a 200-day moving average price of $16.67. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. Bloom Energy Co. has a 1-year low of $8.41 and a 1-year high of $29.83.

Insider Transactions at Bloom Energy

In other news, CEO Kr Sridhar sold 72,903 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total value of $1,824,033.06. Following the completion of the transaction, the chief executive officer now directly owns 1,869,593 shares in the company, valued at $46,777,216.86. This trade represents a 3.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Shawn Marie Soderberg sold 1,639 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the completion of the sale, the insider now owns 171,040 shares in the company, valued at approximately $4,005,756.80. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 122,528 shares of company stock worth $3,061,501. Insiders own 3.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on BE shares. Morgan Stanley upped their target price on shares of Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Susquehanna increased their price objective on Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a research note on Friday, December 6th. Marathon Capitl upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Roth Capital upgraded Bloom Energy to a “hold” rating in a report on Tuesday, December 10th. Finally, Piper Sandler raised their price target on Bloom Energy from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Bloom Energy presently has a consensus rating of “Hold” and a consensus price target of $23.72.

Bloom Energy 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.