Duff & Phelps Investment Management Co. Boosts Stock Position in Bloom Energy Co. (NYSE:BE)

Duff & Phelps Investment Management Co. boosted its stake in shares of Bloom Energy Co. (NYSE:BE) by 20.2% in the fourth quarter, Holdings Channel reports. 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 SEC filing.

Other large investors have also recently modified their holdings of the company. Millburn Ridgefield Corp bought a new position in shares of Bloom Energy during the third quarter valued at $33,000. Allspring Global Investments Holdings LLC raised its position in Bloom Energy by 17.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the company’s stock worth $102,000 after buying an additional 1,117 shares during the last quarter. AM Investment Strategies LLC bought a new position in Bloom Energy during the 3rd quarter valued at about $133,000. Tsfg LLC boosted its holdings in shares of Bloom Energy by 11.1% during the 4th quarter. Tsfg LLC now owns 10,006 shares of the company’s stock valued at $148,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Robertson Stephens Wealth Management LLC grew its stake in shares of Bloom Energy by 21.3% in the third quarter. Robertson Stephens Wealth Management LLC now owns 13,293 shares of the company’s stock worth $176,000 after acquiring an additional 2,334 shares during the period. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Evercore ISI started coverage on shares of Bloom Energy in a research report on Monday, April 1st. They issued an “outperform” rating and a $21.00 target price for the company. Morgan Stanley reiterated an “overweight” rating and set a $22.00 price objective on shares of Bloom Energy in a research report on Monday, March 25th. JPMorgan Chase & Co. downgraded Bloom Energy from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $19.00 to $14.00 in a report on Friday, February 16th. Susquehanna cut their price target on Bloom Energy from $18.00 to $16.00 and set a “positive” rating for the company in a research note on Wednesday, March 27th. Finally, Royal Bank of Canada lowered their price objective on shares of Bloom Energy from $21.00 to $14.00 and set an “outperform” rating on the stock in a research note on Friday, February 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.69.

Insider Activity

In other Bloom Energy news, CEO Kr Sridhar sold 50,746 shares of Bloom Energy stock in a transaction on Monday, March 18th. The shares were sold at an average price of $9.74, for a total transaction of $494,266.04. Following the completion of the transaction, the chief executive officer now directly owns 2,702,608 shares of the company’s stock, valued at $26,323,401.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Bloom Energy news, CEO Kr Sridhar sold 50,746 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $9.74, for a total transaction of $494,266.04. Following the completion of the transaction, the chief executive officer now owns 2,702,608 shares in the company, valued at $26,323,401.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shawn Marie Soderberg sold 8,963 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $9.86, for a total value of $88,375.18. Following the completion of the sale, the insider now owns 168,003 shares in the company, valued at $1,656,509.58. The disclosure for this sale can be found here. Insiders sold 74,989 shares of company stock valued at $725,292 in the last ninety days. Insiders own 3.50% of the company’s stock.

Bloom Energy Trading Up 1.1 %

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

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

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.