Stifel Financial Corp Reduces Position in Bloom Energy Co. (NYSE:BE)

Stifel Financial Corp cut its stake in Bloom Energy Co. (NYSE:BE) by 3.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 170,550 shares of the company’s stock after selling 6,592 shares during the period. Stifel Financial Corp owned about 0.07% of Bloom Energy worth $1,801,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in BE. Millburn Ridgefield Corp lifted its position in Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after acquiring an additional 528 shares during the last quarter. Quest Partners LLC raised its position in Bloom Energy by 2,780.0% during the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after buying an additional 3,475 shares during the last quarter. Emerald Mutual Fund Advisers Trust purchased a new stake in Bloom Energy in the third quarter valued at $74,000. Gilliland Jeter Wealth Management LLC grew its holdings in Bloom Energy by 97.7% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 8,500 shares of the company’s stock worth $90,000 after acquiring an additional 4,200 shares during the period. Finally, Itau Unibanco Holding S.A. purchased a new stake in Bloom Energy in the 2nd quarter worth approximately $103,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Bloom Energy Trading Up 5.4 %

BE opened at $24.12 on Friday. 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 firm has a market cap of $5.51 billion, a P/E ratio of -43.07 and a beta of 3.04. Bloom Energy Co. has a 52 week low of $8.41 and a 52 week high of $28.70. The business has a fifty day simple moving average of $18.28 and a 200-day simple moving average of $14.30.

Analyst Upgrades and Downgrades

BE has been the subject of a number of research analyst reports. Piper Sandler upped their price objective on shares of Bloom Energy from $20.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Morgan Stanley upped their price objective on shares of Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Hsbc Global Res raised shares of Bloom Energy to a “hold” rating in a research note on Wednesday, November 20th. Truist Financial dropped their price target on Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, October 16th. Finally, Roth Mkm began coverage on Bloom Energy in a research report on Wednesday, December 11th. They set a “neutral” rating and a $25.00 price objective on the stock. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Bloom Energy presently has a consensus rating of “Hold” and an average target price of $22.45.

Insider Buying and Selling at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,289 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the sale, the insider now owns 168,561 shares of the company’s stock, valued at $4,139,858.16. This trade represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kr Sridhar sold 72,903 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the transaction, the chief executive officer now owns 1,869,593 shares of the company’s stock, valued at $46,777,216.86. This trade represents a 3.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 122,975 shares of company stock valued at $3,045,019 in the last three months. 8.81% of the stock is owned by corporate insiders.

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.