Flputnam Investment Management Co. Trims Stake in Bloom Energy Co. (NYSE:BE)

Flputnam Investment Management Co. reduced its position in shares of Bloom Energy Co. (NYSE:BE) by 44.8% during the 4th quarter, HoldingsChannel reports. The firm owned 91,958 shares of the company’s stock after selling 74,728 shares during the period. Flputnam Investment Management Co.’s holdings in Bloom Energy were worth $2,042,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Elemental Capital Partners LLC bought a new stake in Bloom Energy during the 4th quarter valued at $33,612,000. JAT Capital Mgmt LP boosted its position in Bloom Energy by 50.0% during the 3rd quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock valued at $23,221,000 after acquiring an additional 733,363 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Bloom Energy by 68.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,026,488 shares of the company’s stock valued at $22,798,000 after acquiring an additional 417,120 shares in the last quarter. Erste Asset Management GmbH bought a new stake in Bloom Energy during the 3rd quarter valued at $3,762,000. Finally, Edgestream Partners L.P. bought a new stake in Bloom Energy during the 3rd quarter valued at $3,274,000. Institutional investors own 77.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BE. UBS Group increased their target price on Bloom Energy from $21.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. increased their target price on Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. HSBC cut Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price objective for the company. in a research report on Wednesday, November 20th. Roth Capital raised Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. Finally, Bank of America lowered their price objective on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Bloom Energy has a consensus rating of “Hold” and a consensus target price of $24.47.

Insiders Place Their Bets

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy 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 in the company, valued at approximately $4,005,756.80. This trade represents a 0.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 8.81% of the stock is currently owned by insiders.

Bloom Energy Stock Performance

Shares of BE opened at $24.08 on Monday. The stock has a 50-day moving average of $24.10 and a two-hundred day moving average of $18.08. Bloom Energy Co. has a one year low of $8.41 and a one year high of $29.83. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The stock has a market cap of $5.50 billion, a P/E ratio of -43.00 and a beta of 3.06.

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.