Bloom Energy Co. (NYSE:BE) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its stake in Bloom Energy Co. (NYSE:BE) by 3.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 409,298 shares of the company’s stock after selling 16,782 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Bloom Energy were worth $4,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Bloom Energy by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock worth $221,262,000 after acquiring an additional 156,434 shares in the last quarter. Electron Capital Partners LLC raised its position in shares of Bloom Energy by 131.5% during the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after acquiring an additional 1,790,733 shares in the last quarter. DigitalBridge Group Inc. grew its stake 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 buying an additional 462,581 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in Bloom Energy by 48.6% during the 2nd quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company’s stock worth $10,644,000 after buying an additional 284,298 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in Bloom Energy by 64.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 830,405 shares of the company’s stock worth $11,017,000 after buying an additional 325,814 shares during the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

Analyst Upgrades and Downgrades

BE has been the topic of a number of research reports. UBS Group dropped their price target on Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Bank of America dropped their price target on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a research note on Thursday, November 7th. Marathon Capitl upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Jefferies Financial Group downgraded Bloom Energy from a “buy” rating to a “hold” rating and dropped their price target for the stock from $15.00 to $11.00 in a research note on Friday, September 6th. Finally, BTIG Research lifted their target price on Bloom Energy from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.17.

Bloom Energy Stock Performance

Shares of BE stock opened at $22.81 on Tuesday. The stock has a fifty day moving average price of $10.82 and a 200 day moving average price of $12.28. The stock has a market cap of $5.21 billion, a PE ratio of -40.73 and a beta of 2.71. Bloom Energy Co. has a 1 year low of $8.41 and a 1 year high of $24.92. The company has a debt-to-equity ratio of 3.09, a quick ratio of 3.33 and a current ratio of 3.36.

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.