Bloom Energy Co. (NYSE:BE) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its position in Bloom Energy Co. (NYSE:BE) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,915 shares of the company’s stock after selling 507 shares during the period. Victory Capital Management Inc.’s holdings in Bloom Energy were worth $531,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BE. Elemental Capital Partners LLC acquired a new stake in Bloom Energy in the 4th quarter worth about $33,612,000. JAT Capital Mgmt LP boosted its holdings in shares of Bloom Energy by 50.0% during the 3rd quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock worth $23,221,000 after purchasing an additional 733,363 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Bloom Energy by 68.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,026,488 shares of the company’s stock worth $22,798,000 after purchasing an additional 417,120 shares during the last quarter. Erste Asset Management GmbH acquired a new position in shares of Bloom Energy during the 3rd quarter worth approximately $3,762,000. Finally, Edgestream Partners L.P. acquired a new position in shares of Bloom Energy during the 3rd quarter worth approximately $3,274,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bloom Energy

In other 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 sale, the insider now owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Satish Chitoori sold 1,020 shares of the company’s stock in a transaction 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 directly owns 178,656 shares in the company, valued at $4,482,479.04. This represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is owned by corporate insiders.

Bloom Energy Stock Down 5.9 %

Shares of NYSE BE opened at $23.90 on Friday. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of -42.68 and a beta of 3.30. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. Bloom Energy Co. has a 52-week low of $9.02 and a 52-week high of $29.83. The business’s 50 day moving average is $24.10 and its two-hundred day moving average is $19.30.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Piper Sandler lowered their target price on Bloom Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Roth Capital upgraded Bloom Energy to a “hold” rating in a report on Tuesday, December 10th. BTIG Research boosted their target price on Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, December 16th. UBS Group boosted their target price on Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, TD Cowen upped their price objective on Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.