Franklin Resources Inc. Increases Holdings in Bloom Energy Co. (NYSE:BE)

Franklin Resources Inc. boosted its position in Bloom Energy Co. (NYSE:BE) by 62.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 125,598 shares of the company’s stock after purchasing an additional 48,258 shares during the period. Franklin Resources Inc.’s holdings in Bloom Energy were worth $1,314,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BE. Electron Capital Partners LLC increased its holdings in shares of Bloom Energy by 131.5% in the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after buying an additional 1,790,733 shares during the period. JAT Capital Mgmt LP boosted its holdings in Bloom Energy by 50.0% during the 3rd quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock valued at $23,221,000 after acquiring an additional 733,363 shares during the period. DigitalBridge Group Inc. grew its position in Bloom Energy by 66.3% during the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock worth $14,203,000 after acquiring an additional 462,581 shares during the last quarter. Pier Capital LLC purchased a new position in Bloom Energy in the 2nd quarter worth approximately $5,602,000. Finally, Erste Asset Management GmbH bought a new stake in Bloom Energy in the third quarter valued at approximately $3,762,000. 77.04% of the stock is currently owned by institutional investors.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $24.56, for a total value of $31,657.84. Following the sale, the insider now directly owns 168,561 shares of the company’s stock, valued at approximately $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kr Sridhar sold 46,697 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $25.00, for a total value of $1,167,425.00. Following the transaction, the chief executive officer now owns 1,822,496 shares of the company’s stock, valued at $45,562,400. The trade was a 2.50 % decrease in their ownership of the stock. 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. Company insiders own 3.50% of the company’s stock.

Bloom Energy Stock Performance

Shares of BE stock opened at $22.90 on Friday. The company’s fifty day moving average price is $19.39 and its 200-day moving average price is $14.55. The stock has a market cap of $5.23 billion, a PE ratio of -40.89 and a beta of 3.02. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. Bloom Energy Co. has a 12 month low of $8.41 and a 12 month high of $28.70.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BE shares. UBS Group raised their target price on shares of Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Morgan Stanley raised their price target on shares of Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Susquehanna boosted their price objective on shares of Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a research report on Friday, December 6th. Roth Capital upgraded shares of Bloom Energy to a “hold” rating in a report on Tuesday, December 10th. Finally, HSBC downgraded Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price target on the stock. in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $22.45.

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.