Bloom Energy Co. (NYSE:BE) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in shares of Bloom Energy Co. (NYSE:BE) by 9.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,649 shares of the company’s stock after selling 1,656 shares during the period. Principal Financial Group Inc.’s holdings in Bloom Energy were worth $370,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Bloom Energy by 57.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 46,400 shares of the company’s stock worth $490,000 after purchasing an additional 16,973 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Bloom Energy by 13.1% during the third quarter. Van ECK Associates Corp now owns 661,932 shares of the company’s stock valued at $6,990,000 after acquiring an additional 76,536 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in shares of Bloom Energy during the third quarter valued at about $114,000. State of New Jersey Common Pension Fund D raised its stake in shares of Bloom Energy by 39.4% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 167,108 shares of the company’s stock valued at $1,765,000 after acquiring an additional 47,272 shares during the period. Finally, Versor Investments LP acquired a new position in shares of Bloom Energy in the 3rd quarter worth approximately $189,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. JPMorgan Chase & Co. boosted their target price on Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Truist Financial upped their price objective on Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Piper Sandler reduced their target price on shares of Bloom Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Royal Bank of Canada lifted their price target on Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Finally, TD Cowen boosted their price objective on shares of Bloom Energy from $13.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $24.47.

Insider Activity at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the transaction, the insider now owns 171,040 shares of the company’s stock, valued at $4,005,756.80. This represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.50% of the stock is owned by insiders.

Bloom Energy Stock Up 3.3 %

BE stock opened at $23.12 on Friday. The stock has a market capitalization of $5.28 billion, a PE ratio of -41.28 and a beta of 3.30. The company has a fifty day moving average of $24.01 and a 200-day moving average of $18.43. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. Bloom Energy Co. has a one year low of $8.82 and a one year high of $29.83.

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.