Duff & Phelps Investment Management Co. Buys 3,474 Shares of Bloom Energy Co. (NYSE:BE)

Duff & Phelps Investment Management Co. grew its stake in Bloom Energy Co. (NYSE:BE) by 20.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,639 shares of the company’s stock after purchasing an additional 3,474 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Bloom Energy were worth $305,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Bloom Energy by 9.3% in the 3rd quarter. Vanguard Group Inc. now owns 19,221,174 shares of the company’s stock worth $254,873,000 after purchasing an additional 1,635,738 shares in the last quarter. FMR LLC increased its stake in shares of Bloom Energy by 168.8% in the third quarter. FMR LLC now owns 3,524,361 shares of the company’s stock valued at $46,733,000 after buying an additional 2,213,167 shares during the period. Northern Trust Corp increased its stake in shares of Bloom Energy by 3.8% in the third quarter. Northern Trust Corp now owns 1,920,938 shares of the company’s stock valued at $25,472,000 after buying an additional 70,248 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Bloom Energy by 7.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,578,670 shares of the company’s stock valued at $20,933,000 after buying an additional 113,430 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Bloom Energy by 22.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,558,252 shares of the company’s stock worth $20,662,000 after buying an additional 283,333 shares during the period. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Shawn Marie Soderberg sold 13,120 shares of Bloom Energy stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $9.34, for a total transaction of $122,540.80. Following the completion of the transaction, the executive vice president now directly owns 73,946 shares in the company, valued at $690,655.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Shawn Marie Soderberg sold 13,120 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $9.34, for a total value of $122,540.80. Following the completion of the sale, the executive vice president now directly owns 73,946 shares of the company’s stock, valued at $690,655.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kr Sridhar sold 50,746 shares of Bloom Energy stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $9.74, for a total value of $494,266.04. Following the transaction, the chief executive officer now directly owns 2,702,608 shares in the company, valued at approximately $26,323,401.92. The disclosure for this sale can be found here. Insiders have sold a total of 74,989 shares of company stock worth $725,292 in the last ninety days. Corporate insiders own 3.50% of the company’s stock.

Bloom Energy Stock Performance

BE stock opened at $11.11 on Wednesday. The company has a debt-to-equity ratio of 2.41, a current ratio of 3.60 and a quick ratio of 2.53. The company’s 50-day moving average is $10.15 and its 200-day moving average is $11.67. Bloom Energy Co. has a 1 year low of $8.41 and a 1 year high of $18.76.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. Bloom Energy had a negative return on equity of 23.88% and a negative net margin of 22.66%. The business had revenue of $356.92 million for the quarter, compared to the consensus estimate of $481.90 million. Equities analysts anticipate that Bloom Energy Co. will post -0.16 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BE shares. Truist Financial upgraded shares of Bloom Energy from a “sell” rating to a “hold” rating and lifted their price target for the stock from $9.00 to $11.00 in a report on Wednesday, March 6th. JPMorgan Chase & Co. lowered Bloom Energy from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $19.00 to $14.00 in a research report on Friday, February 16th. BMO Capital Markets lowered their price objective on Bloom Energy from $11.00 to $10.00 and set a “market perform” rating for the company in a research report on Friday, February 16th. Bank of America lowered Bloom Energy from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $16.00 to $10.00 in a research note on Monday, January 29th. Finally, Piper Sandler lowered their price target on shares of Bloom Energy from $14.00 to $11.00 and set a “neutral” rating for the company in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Bloom Energy has a consensus rating of “Moderate Buy” and a consensus target price of $16.69.

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.