Stifel Financial Corp Reduces Holdings in Bloom Energy Co. (NYSE:BE)

Stifel Financial Corp trimmed its holdings in shares of Bloom Energy Co. (NYSE:BE) by 3.7% in the third quarter, HoldingsChannel reports. The firm owned 170,550 shares of the company’s stock after selling 6,592 shares during the period. Stifel Financial Corp’s holdings in Bloom Energy were worth $1,801,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BE. Millburn Ridgefield Corp boosted its holdings in Bloom Energy by 29.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after acquiring an additional 528 shares during the period. Quest Partners LLC boosted its position in Bloom Energy by 2,780.0% during the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after acquiring an additional 3,475 shares during the period. Emerald Mutual Fund Advisers Trust acquired a new stake in Bloom Energy in the third quarter worth approximately $74,000. Itau Unibanco Holding S.A. acquired a new stake in Bloom Energy in the 2nd quarter valued at about $103,000. Finally, Gilliland Jeter Wealth Management LLC increased its holdings in shares of Bloom Energy by 97.7% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 8,500 shares of the company’s stock valued at $90,000 after buying an additional 4,200 shares in the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 46,697 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $25.00, for a total value of $1,167,425.00. Following the completion of the sale, the chief executive officer now owns 1,822,496 shares in the company, valued at approximately $45,562,400. This trade represents a 2.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Shawn Marie Soderberg sold 1,289 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was 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 $4,139,858.16. The trade was a 0.76 % 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. Insiders own 8.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on BE shares. HSBC downgraded Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price target on the stock. in a report on Wednesday, November 20th. Morgan Stanley lifted their target price on Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. BMO Capital Markets boosted their target price on shares of Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a research note on Friday, November 15th. Truist Financial dropped their price objective on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, October 16th. Finally, UBS Group raised their price target on Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $22.45.

Bloom Energy Stock Up 5.4 %

Shares of NYSE BE opened at $24.12 on Friday. Bloom Energy Co. has a 12-month low of $8.41 and a 12-month high of $28.70. The firm has a market cap of $5.51 billion, a PE ratio of -43.07 and a beta of 3.04. The company’s fifty day simple moving average is $18.28 and its 200 day simple moving average is $14.30. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09.

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.