Raymond James Financial Inc. Makes New Investment in Bloom Energy Co. (NYSE:BE)

Raymond James Financial Inc. acquired a new position in shares of Bloom Energy Co. (NYSE:BEFree Report) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 883,792 shares of the company’s stock, valued at approximately $19,629,000.

A number of other large investors have also recently bought and sold shares of BE. Millburn Ridgefield Corp grew its stake in Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after buying an additional 528 shares in the last quarter. Mainstream Capital Management LLC acquired a new stake in Bloom Energy during the fourth quarter worth about $28,000. Smartleaf Asset Management LLC grew its stake in Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after buying an additional 934 shares in the last quarter. Jones Financial Companies Lllp grew its stake 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 in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Bloom Energy during the third quarter worth about $34,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BE. Truist Financial increased their price objective on shares of Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. BMO Capital Markets restated a “market perform” rating on shares of Bloom Energy in a research note on Friday, February 28th. Bank of America reduced their price target on shares of Bloom Energy from $20.00 to $18.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. Roth Capital upgraded shares of Bloom Energy to a “hold” rating in a research note on Tuesday, December 10th. Finally, HSBC downgraded shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price target on the stock. in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $24.47.

Get Our Latest Stock Analysis on Bloom Energy

Insiders Place Their Bets

In other news, insider Shawn Marie Soderberg sold 1,639 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the sale, the insider now owns 171,040 shares of the company’s stock, valued at $4,005,756.80. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 8.81% of the company’s stock.

Bloom Energy Stock Up 1.9 %

Bloom Energy stock opened at $24.39 on Monday. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. Bloom Energy Co. has a 52-week low of $8.99 and a 52-week high of $29.83. The firm has a 50 day moving average price of $24.12 and a two-hundred day moving average price of $18.97. The firm has a market cap of $5.62 billion, a price-to-earnings ratio of -43.55 and a beta of 3.30.

About Bloom Energy

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding BE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bloom Energy Co. (NYSE:BEFree Report).

Institutional Ownership by Quarter for Bloom Energy (NYSE:BE)

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