Bloom Energy Co. (NYSE:BE) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of Bloom Energy Co. (NYSE:BE) by 3.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 409,298 shares of the company’s stock after selling 16,782 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.18% of Bloom Energy worth $4,322,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. ORG Partners LLC acquired a new position in shares of Bloom Energy during the 2nd quarter worth approximately $40,000. Quest Partners LLC increased its position in shares of Bloom Energy by 2,780.0% during the second quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after purchasing an additional 3,475 shares in the last quarter. Gilliland Jeter Wealth Management LLC purchased a new stake in shares of Bloom Energy during the second quarter worth approximately $53,000. Mather Group LLC. purchased a new stake in shares of Bloom Energy during the second quarter worth approximately $66,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Bloom Energy during the third quarter worth approximately $74,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Bloom Energy Price Performance

BE opened at $22.81 on Tuesday. The stock’s 50-day moving average price is $10.82 and its 200 day moving average price is $12.28. Bloom Energy Co. has a 12-month low of $8.41 and a 12-month high of $24.92. The company has a current ratio of 3.36, a quick ratio of 3.33 and a debt-to-equity ratio of 3.09. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of -40.73 and a beta of 2.71.

Analyst Ratings Changes

Several brokerages recently commented on BE. Piper Sandler upgraded Bloom Energy from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $10.00 to $20.00 in a research report on Friday. BTIG Research upped their target price on Bloom Energy from $16.00 to $20.00 and gave the company a “buy” rating in a report on Friday. Marathon Capitl upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Royal Bank of Canada upped their target price on Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a report on Monday. Finally, Morgan Stanley upped their target price on Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a report on Monday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.17.

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.