Tocqueville Asset Management L.P. Has $1.03 Million Stock Holdings in Bloom Energy Co. (NYSE:BE)

Tocqueville Asset Management L.P. reduced its stake in Bloom Energy Co. (NYSE:BE) by 25.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,400 shares of the company’s stock after selling 16,050 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Bloom Energy were worth $1,031,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cibc World Markets Corp acquired a new stake in Bloom Energy during the 4th quarter worth about $418,000. Natixis Advisors LLC bought a new stake in shares of Bloom Energy during the 4th quarter valued at about $364,000. CFO4Life Group LLC acquired a new stake in Bloom Energy during the fourth quarter worth approximately $202,000. Erste Asset Management GmbH lifted its stake in Bloom Energy by 78.9% in the fourth quarter. Erste Asset Management GmbH now owns 628,872 shares of the company’s stock valued at $14,401,000 after buying an additional 277,255 shares during the period. Finally, Swiss National Bank boosted its holdings in shares of Bloom Energy by 1.1% during the 4th quarter. Swiss National Bank now owns 403,800 shares of the company’s stock worth $8,968,000 after buying an additional 4,300 shares in the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BE. Truist Financial lifted their price objective on shares of Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Roth Capital raised shares of Bloom Energy to a “hold” rating in a research note on Tuesday, December 10th. BTIG Research increased their price objective on shares of Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Hsbc Global Res upgraded Bloom Energy to a “hold” rating in a research note on Wednesday, November 20th. Finally, TD Cowen increased their price target on Bloom Energy from $13.00 to $20.00 and gave the stock a “hold” rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Bloom Energy presently has an average rating of “Hold” and a consensus target price of $24.67.

Bloom Energy Stock Performance

Shares of BE opened at $24.36 on Thursday. The stock has a 50 day moving average of $24.08 and a 200 day moving average of $19.18. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of -43.50 and a beta of 3.30. Bloom Energy Co. has a 12 month low of $9.02 and a 12 month high of $29.83. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09.

Insider Activity

In other news, 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 transaction of $25,591.80. Following the transaction, the insider now owns 178,656 shares of the company’s stock, valued at $4,482,479.04. This represents a 0.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $23.42, for a total value of $38,385.38. Following the completion of the sale, the insider now directly owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. This trade represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. 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.