Mitsubishi UFJ Asset Management Co. Ltd. Sells 15,201 Shares of Bloom Energy Co. (NYSE:BE)

Mitsubishi UFJ Asset Management Co. Ltd. reduced its position in shares of Bloom Energy Co. (NYSE:BE) by 18.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 67,859 shares of the company’s stock after selling 15,201 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Bloom Energy were worth $1,650,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its position in shares of Bloom Energy by 291.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after purchasing an additional 934 shares during the last quarter. Mainstream Capital Management LLC acquired a new position in Bloom Energy in the fourth quarter valued at about $28,000. Jones Financial Companies Lllp boosted its holdings in Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after buying an additional 812 shares during the last quarter. Avior Wealth Management LLC acquired a new position in shares of Bloom Energy during the 4th quarter worth about $40,000. Finally, Millburn Ridgefield Corp increased its stake in shares of Bloom Energy by 29.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after acquiring an additional 528 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Price Performance

Shares of NYSE BE opened at $21.27 on Wednesday. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The business has a 50-day moving average of $23.83 and a 200-day moving average of $19.98. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of -37.98 and a beta of 3.30. Bloom Energy Co. has a fifty-two week low of $9.02 and a fifty-two week high of $29.83.

Insider Buying and Selling at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the completion of the sale, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Satish Chitoori sold 1,020 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $25.09, for a total value of $25,591.80. Following the transaction, the insider now directly owns 178,656 shares in the company, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.81% of the company’s stock.

Wall Street Analyst Weigh In

BE has been the subject of a number of analyst reports. BMO Capital Markets restated a “market perform” rating on shares of Bloom Energy in a report on Friday, February 28th. JPMorgan Chase & Co. boosted their price target on shares of Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Morgan Stanley raised their price objective on Bloom Energy from $28.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Truist Financial increased their price target on Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Finally, Susquehanna lifted their price objective on Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Bloom Energy currently has a consensus rating of “Hold” and a consensus target price of $25.06.

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.