Bloom Energy Co. (NYSE:BE) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lessened its holdings in shares of Bloom Energy Co. (NYSE:BE) by 56.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 455,264 shares of the company’s stock after selling 591,905 shares during the quarter. Handelsbanken Fonder AB owned about 0.20% of Bloom Energy worth $10,111,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in BE. International Assets Investment Management LLC lifted its holdings in Bloom Energy by 1,490.8% during the 3rd quarter. International Assets Investment Management LLC now owns 185,328 shares of the company’s stock worth $19,570,000 after buying an additional 173,678 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Bloom Energy by 57.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 46,400 shares of the company’s stock worth $490,000 after acquiring an additional 16,973 shares during the period. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Bloom Energy in the third quarter valued at $74,000. Van ECK Associates Corp boosted its holdings in Bloom Energy by 13.1% in the third quarter. Van ECK Associates Corp now owns 661,932 shares of the company’s stock valued at $6,990,000 after purchasing an additional 76,536 shares during the period. Finally, Emerald Advisers LLC acquired a new position in Bloom Energy during the 3rd quarter worth $248,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Insiders Place Their Bets

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the firm’s stock in a transaction dated 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 trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 8.81% of the stock is currently owned by corporate insiders.

Bloom Energy Stock Down 7.2 %

BE opened at $24.11 on Friday. The stock has a market capitalization of $5.51 billion, a P/E ratio of -43.05 and a beta of 3.06. 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 $8.41 and a one year high of $29.83. The business’s 50-day simple moving average is $24.22 and its 200-day simple moving average is $17.66.

Analyst Ratings Changes

BE has been the topic of a number of analyst reports. Morgan Stanley increased their price target on Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. JPMorgan Chase & Co. raised their target price on shares of Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. UBS Group lifted their price target on shares of Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. BTIG Research increased their price objective on shares of Bloom Energy from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, Roth Mkm started coverage on shares of Bloom Energy in a research report on Wednesday, December 11th. They set a “neutral” rating and a $25.00 price objective for the company. 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, Bloom Energy currently has an average rating of “Hold” and an average price target of $24.18.

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.