Icon Wealth Advisors LLC Sells 15,442 Shares of Bloom Energy Co. (NYSE:BE)

Icon Wealth Advisors LLC decreased its position in Bloom Energy Co. (NYSE:BE) by 79.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,092 shares of the company’s stock after selling 15,442 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Bloom Energy were worth $43,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of BE. Electron Capital Partners LLC grew its holdings in Bloom Energy by 131.5% during the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after purchasing an additional 1,790,733 shares during the period. Artemis Investment Management LLP bought a new stake in shares of Bloom Energy in the second quarter worth $7,502,000. DigitalBridge Group Inc. grew its stake in shares of Bloom Energy by 66.3% in the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock worth $14,203,000 after purchasing an additional 462,581 shares during the last quarter. Pier Capital LLC bought a new position in shares of Bloom Energy in the 2nd quarter worth about $5,602,000. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Bloom Energy by 762.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 504,591 shares of the company’s stock worth $5,712,000 after acquiring an additional 446,074 shares in the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Price Performance

Shares of BE opened at $25.76 on Monday. The company has a 50 day moving average price of $12.22 and a 200-day moving average price of $12.71. Bloom Energy Co. has a fifty-two week low of $8.41 and a fifty-two week high of $26.26. The stock has a market capitalization of $5.89 billion, a PE ratio of -46.00 and a beta of 2.71. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

Insider Buying and Selling

In related news, insider Shawn Marie Soderberg sold 1,289 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $24.56, for a total transaction of $31,657.84. Following the completion of the transaction, the insider now owns 168,561 shares in the company, valued at $4,139,858.16. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kr Sridhar sold 72,903 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the transaction, the chief executive officer now owns 1,869,593 shares of the company’s stock, valued at approximately $46,777,216.86. This trade represents a 3.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 122,975 shares of company stock worth $3,045,019 in the last 90 days. 8.81% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently commented on BE. Hsbc Global Res raised Bloom Energy to a “hold” rating in a research report on Wednesday, November 20th. Royal Bank of Canada upped their price objective on Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Jefferies Financial Group boosted their target price on shares of Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a report on Friday. Bank of America decreased their price target on shares of Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a report on Thursday, November 7th. Finally, HSBC cut shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price target on the stock. in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Bloom Energy presently has an average rating of “Hold” and a consensus price target of $18.66.

Bloom Energy Company 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.