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:BE) 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.

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

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.