First Trust Advisors LP Sells 156,343 Shares of Bloom Energy Co. (NYSE:BE)

First Trust Advisors LP lowered its stake in Bloom Energy Co. (NYSE:BE) by 17.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 761,226 shares of the company’s stock after selling 156,343 shares during the quarter. First Trust Advisors LP owned about 0.33% of Bloom Energy worth $16,907,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB acquired a new stake in Bloom Energy in the 3rd quarter valued at approximately $34,000. Peapack Gladstone Financial Corp raised its holdings in shares of Bloom Energy by 4.4% in the third quarter. Peapack Gladstone Financial Corp now owns 271,924 shares of the company’s stock valued at $2,871,000 after purchasing an additional 11,525 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Bloom Energy by 62.4% in the third quarter. Franklin Resources Inc. now owns 125,598 shares of the company’s stock worth $1,314,000 after purchasing an additional 48,258 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in Bloom Energy by 21.8% during the third quarter. B. Riley Wealth Advisors Inc. now owns 21,404 shares of the company’s stock worth $226,000 after purchasing an additional 3,824 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Bloom Energy by 26.8% during the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after purchasing an additional 569 shares during the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

Wall Street Analysts Forecast Growth

BE has been the topic of several analyst reports. Redburn Atlantic cut shares of Bloom Energy from a “neutral” rating to a “sell” rating and cut their price target for the stock from $14.50 to $10.00 in a research report on Wednesday, April 9th. Jefferies Financial Group dropped their target price on Bloom Energy from $25.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, April 16th. Bank of America decreased their price target on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Truist Financial dropped their price objective on Bloom Energy from $22.00 to $19.00 and set a “hold” rating on the stock in a research note on Monday, April 21st. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Bloom Energy in a research note on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bloom Energy has a consensus rating of “Moderate Buy” and a consensus price target of $22.97.

Bloom Energy Stock Performance

Shares of NYSE BE opened at $18.95 on Friday. 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 firm has a market cap of $4.37 billion, a price-to-earnings ratio of -33.84 and a beta of 3.27. The stock’s fifty day moving average price is $21.11 and its two-hundred day moving average price is $20.86. Bloom Energy Co. has a one year low of $9.02 and a one year high of $29.83.

Insider Activity at Bloom Energy

In related news, insider Satish Chitoori sold 1,020 shares of the 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 sale, the insider now owns 178,656 shares of the company’s stock, valued at $4,482,479.04. This represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 8.81% of the stock is currently owned by corporate insiders.

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.