Handelsbanken Fonder AB Lowers Position in Bloom Energy Co. (NYSE:BE)

Handelsbanken Fonder AB cut its holdings in Bloom Energy Co. (NYSE:BE) by 56.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 455,264 shares of the company’s stock after selling 591,905 shares during the quarter. Handelsbanken Fonder AB’s holdings in Bloom Energy were worth $10,111,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. JAT Capital Mgmt LP grew its holdings in Bloom Energy by 50.0% in the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock valued at $23,221,000 after purchasing an additional 733,363 shares during the last quarter. Elemental Capital Partners LLC acquired a new position in Bloom Energy in the fourth quarter valued at $33,612,000. Van ECK Associates Corp lifted its holdings in shares of Bloom Energy by 13.1% during the 3rd quarter. Van ECK Associates Corp now owns 661,932 shares of the company’s stock worth $6,990,000 after acquiring an additional 76,536 shares during the period. Pier Capital LLC raised its stake in Bloom Energy by 0.9% during the third quarter. Pier Capital LLC now owns 461,744 shares of the company’s stock worth $4,876,000 after purchasing an additional 4,082 shares during the period. Finally, Mizuho Markets Americas LLC increased its holdings in shares of Bloom Energy by 8.2% during the 3rd quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company’s stock worth $4,335,000 after buying an additional 31,189 shares during the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the transaction, the insider now owns 171,040 shares in the company, valued at approximately $4,005,756.80. The trade was a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 8.81% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on BE. Piper Sandler lifted their price target on shares of Bloom Energy from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. Truist Financial increased their price target on Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Jefferies Financial Group raised 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. Robert W. Baird boosted their price target on Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Finally, Marathon Capitl raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $24.18.

Bloom Energy Trading Down 7.2 %

Bloom Energy stock opened at $24.11 on Friday. The firm has a 50 day simple moving average of $24.22 and a 200-day simple moving average of $17.66. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The stock has a market capitalization of $5.51 billion, a PE ratio of -43.05 and a beta of 3.06. Bloom Energy Co. has a 12-month low of $8.41 and a 12-month high of $29.83.

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.