Bloom Energy Co. (NYSE:BE) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in Bloom Energy Co. (NYSE:BE) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 397,235 shares of the company’s stock after selling 5,173 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Bloom Energy were worth $4,195,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Xponance Inc. increased its stake in shares of Bloom Energy by 7.8% during the second quarter. Xponance Inc. now owns 12,542 shares of the company’s stock worth $154,000 after purchasing an additional 903 shares in the last quarter. Arizona State Retirement System increased its stake in Bloom Energy by 2.7% during the 2nd quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock worth $696,000 after buying an additional 1,470 shares in the last quarter. Quest Partners LLC raised its holdings in shares of Bloom Energy by 2,780.0% during the second quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after acquiring an additional 3,475 shares during the last quarter. ORG Partners LLC purchased a new position in shares of Bloom Energy in the second quarter valued at approximately $40,000. Finally, Gilliland Jeter Wealth Management LLC boosted its stake 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 worth $90,000 after acquiring an additional 4,200 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Trading Down 1.9 %

Shares of BE stock opened at $26.92 on Tuesday. Bloom Energy Co. has a 1-year low of $8.41 and a 1-year high of $28.70. The firm has a market cap of $6.15 billion, a PE ratio of -48.07 and a beta of 2.71. The company has a 50-day moving average of $14.20 and a two-hundred day moving average of $13.35. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.

Insider Buying and Selling

In related news, insider Shawn Marie Soderberg sold 1,289 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $24.56, for a total transaction of $31,657.84. Following the transaction, the insider now owns 168,561 shares of the company’s stock, valued at approximately $4,139,858.16. This represents a 0.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kr Sridhar sold 72,903 shares of Bloom Energy stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total value of $1,824,033.06. Following the completion of the transaction, the chief executive officer now directly owns 1,869,593 shares of the company’s stock, valued at approximately $46,777,216.86. This represents a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 122,975 shares of company stock valued at $3,045,019. Company insiders own 8.81% of the company’s stock.

Wall Street Analysts Forecast Growth

BE has been the subject of a number of research reports. HSBC lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 target price for the company. in a report on Wednesday, November 20th. Piper Sandler upped their price objective on shares of Bloom Energy from $20.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Susquehanna increased their price objective on shares of Bloom Energy from $13.00 to $16.00 and gave the company a “positive” rating in a report on Tuesday, November 12th. Jefferies Financial Group boosted their target price on Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. Finally, Royal Bank of Canada increased their price target on Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Bloom Energy has an average rating of “Hold” and an average target price of $19.14.

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.