KBC Group NV Sells 305,779 Shares of Bloom Energy Co. (NYSE:BE)

KBC Group NV lessened its position in shares of Bloom Energy Co. (NYSE:BE) by 58.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 216,408 shares of the company’s stock after selling 305,779 shares during the period. KBC Group NV’s holdings in Bloom Energy were worth $4,806,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. JAT Capital Mgmt LP grew its holdings in shares of Bloom Energy by 50.0% during the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock worth $23,221,000 after purchasing an additional 733,363 shares in the last quarter. Erste Asset Management GmbH bought a new stake in Bloom Energy during the third quarter valued at approximately $3,762,000. Edgestream Partners L.P. purchased a new position in Bloom Energy in the 3rd quarter worth approximately $3,274,000. Temasek Holdings Private Ltd bought a new position in shares of Bloom Energy in the 3rd quarter worth $3,249,000. Finally, International Assets Investment Management LLC raised its position in shares of Bloom Energy by 1,490.8% during the 3rd quarter. International Assets Investment Management LLC now owns 185,328 shares of the company’s stock valued at $19,570,000 after buying an additional 173,678 shares in the last quarter. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BE has been the subject of several research reports. Susquehanna upped their target price on shares of Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a research report on Friday, December 6th. BTIG Research raised their price objective on Bloom Energy from $20.00 to $30.00 and gave the company a “buy” rating in a report on Monday, December 16th. Roth Mkm began coverage on Bloom Energy in a research note on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 target price for the company. Robert W. Baird lifted their price target on shares of Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Finally, BMO Capital Markets boosted their price objective on shares of Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $23.13.

Bloom Energy Stock Performance

NYSE:BE opened at $23.63 on Friday. 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 firm’s fifty day simple moving average is $24.64 and its 200 day simple moving average is $16.41. The stock has a market cap of $5.40 billion, a P/E ratio of -42.20 and a beta of 3.06. Bloom Energy Co. has a twelve month low of $8.41 and a twelve month high of $29.83.

Insider Transactions at Bloom Energy

In other news, CEO Kr Sridhar sold 72,903 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the sale, the chief executive officer now owns 1,869,593 shares in the company, valued at approximately $46,777,216.86. The trade was a 3.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Shawn Marie Soderberg sold 1,639 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the transaction, the insider now owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. The trade was a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 122,528 shares of company stock valued at $3,061,501. Company insiders own 8.81% of the company’s stock.

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.