Advisors Asset Management Inc. Grows Stake in Bloom Energy Co. (NYSE:BE)

Advisors Asset Management Inc. lifted its stake in shares of Bloom Energy Co. (NYSE:BE) by 45.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,140 shares of the company’s stock after purchasing an additional 16,993 shares during the period. Advisors Asset Management Inc.’s holdings in Bloom Energy were worth $572,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. ORG Partners LLC acquired a new position in Bloom Energy during the second quarter worth about $40,000. Quest Partners LLC boosted its holdings in Bloom Energy by 2,780.0% in the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after purchasing an additional 3,475 shares during the last quarter. Gilliland Jeter Wealth Management LLC acquired a new position in Bloom Energy in the 2nd quarter valued at about $53,000. Mather Group LLC. acquired a new position in Bloom Energy in the 2nd quarter valued at about $66,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in Bloom Energy in the 3rd quarter valued at about $74,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BE shares. Hsbc Global Res upgraded shares of Bloom Energy to a “hold” rating in a report on Wednesday, November 20th. Jefferies Financial Group upped their price objective on shares of Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a 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 stock an “overweight” rating in a report on Monday, November 18th. 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 report on Friday, November 22nd. Finally, Robert W. Baird decreased their price objective on shares of Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $19.14.

Bloom Energy Trading Up 4.0 %

Shares of NYSE:BE opened at $27.21 on Thursday. Bloom Energy Co. has a 52 week low of $8.41 and a 52 week high of $28.70. The company’s 50 day moving average is $12.87 and its two-hundred day moving average is $12.93. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The company has a market cap of $6.22 billion, a PE ratio of -48.59 and a beta of 2.71.

Insider Activity

In other news, insider Shawn Marie Soderberg sold 1,289 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now owns 168,561 shares in the company, valued at approximately $4,139,858.16. This represents a 0.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kr Sridhar sold 46,697 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the completion of the transaction, the chief executive officer now owns 1,822,496 shares of the company’s stock, valued at approximately $45,562,400. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 122,975 shares of company stock worth $3,045,019. Corporate insiders own 8.81% of the company’s stock.

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.