Tocqueville Asset Management L.P. Sells 16,050 Shares of Bloom Energy Co. (NYSE:BE)

Tocqueville Asset Management L.P. cut its stake in Bloom Energy Co. (NYSE:BE) by 25.7% in the 4th quarter, Holdings Channel.com reports. 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 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in BE. Millburn Ridgefield Corp grew its holdings in Bloom Energy by 29.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after buying an additional 528 shares in the last quarter. Mainstream Capital Management LLC purchased a new position in Bloom Energy during the fourth quarter valued at approximately $28,000. Smartleaf Asset Management LLC increased its holdings in Bloom Energy by 291.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after acquiring an additional 934 shares during the period. Jones Financial Companies Lllp lifted its stake in Bloom Energy by 120.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after purchasing an additional 812 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Bloom Energy during the 3rd quarter valued at $34,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Insider Activity at Bloom Energy

In other news, insider Satish Chitoori sold 1,020 shares of the business’s stock in a transaction that occurred 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 directly owns 178,656 shares of the company’s stock, valued at approximately $4,482,479.04. The trade was a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,639 shares of the firm’s stock in a transaction on 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 $4,005,756.80. The trade was a 0.95 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is currently owned by company insiders.

Bloom Energy Stock Performance

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BE. Truist Financial increased their price objective on Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Bank of America dropped their price target on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a research report on Tuesday, January 28th. Susquehanna raised their target price on shares of Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a research note on Friday, December 6th. Robert W. Baird boosted their price target on shares of Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Bloom Energy in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $24.67.

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.