Duff & Phelps Investment Management Co. Invests $517,000 in Bloom Energy Co. (NYSE:BE)

Duff & Phelps Investment Management Co. acquired a new position in Bloom Energy Co. (NYSE:BE) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 48,959 shares of the company’s stock, valued at approximately $517,000.

Several other large investors also recently added to or reduced their stakes in the business. Pier Capital LLC grew its holdings in Bloom Energy by 0.9% during the third quarter. Pier Capital LLC now owns 461,744 shares of the company’s stock valued at $4,876,000 after purchasing an additional 4,082 shares during the period. Main Management ETF Advisors LLC purchased a new position in shares of Bloom Energy during the 3rd quarter valued at about $615,000. Kovitz Investment Group Partners LLC grew its stake in shares of Bloom Energy by 3.9% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company’s stock valued at $374,000 after acquiring an additional 1,349 shares during the period. Temasek Holdings Private Ltd purchased a new stake in Bloom Energy in the 3rd quarter worth approximately $3,249,000. Finally, Millburn Ridgefield Corp raised its stake in Bloom Energy by 29.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after acquiring an additional 528 shares during the period. 77.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BE. Truist Financial reduced their price objective on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research note on Wednesday, October 16th. Susquehanna increased their price target on Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a research note on Friday. Marathon Capitl raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Bank of America upped their price objective on Bloom Energy from $7.00 to $20.00 and gave the stock an “underperform” rating in a research note on Monday. Finally, Morgan Stanley lifted their target price on Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Bloom Energy currently has a consensus rating of “Hold” and a consensus target price of $20.81.

Insiders Place Their Bets

In related news, CEO Kr Sridhar sold 46,697 shares of Bloom Energy stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the completion of the transaction, the chief executive officer now directly owns 1,822,496 shares of the company’s stock, valued at approximately $45,562,400. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shawn Marie Soderberg sold 1,289 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were 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 in the company, valued at $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,975 shares of company stock valued at $3,045,019 over the last ninety days. 8.81% of the stock is owned by insiders.

Bloom Energy Stock Performance

Shares of NYSE:BE opened at $26.58 on Tuesday. The firm has a fifty day simple moving average of $15.79 and a two-hundred day simple moving average of $13.76. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The stock has a market capitalization of $6.08 billion, a P/E ratio of -47.46 and a beta of 3.04. Bloom Energy Co. has a 52 week low of $8.41 and a 52 week high of $28.70.

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.