Banco Bilbao Vizcaya Argentaria S.A. Makes New Investment in Bloom Energy Co. (NYSE:BE)

Posted by Defense World Staff on Jun 5th, 2023

Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in shares of Bloom Energy Co. (NYSE:BE – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,900 shares of the company’s stock, valued at approximately $208,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BE. Point72 Hong Kong Ltd acquired a new stake in Bloom Energy during the 3rd quarter worth about $207,000. Capital Impact Advisors LLC increased its holdings in shares of Bloom Energy by 1.7% in the third quarter. Capital Impact Advisors LLC now owns 34,793 shares of the company’s stock worth $735,000 after purchasing an additional 584 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Bloom Energy by 14.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 308,670 shares of the company’s stock valued at $5,902,000 after acquiring an additional 39,468 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in Bloom Energy by 109.2% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 573,412 shares of the company’s stock valued at $10,964,000 after buying an additional 299,341 shares during the period. Finally, Flputnam Investment Management Co. boosted its holdings in shares of Bloom Energy by 1.8% during the fourth quarter. Flputnam Investment Management Co. now owns 48,916 shares of the company’s stock worth $935,000 after purchasing an additional 846 shares during the period. 79.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BE shares. Credit Suisse Group reaffirmed an “outperform” rating and set a $32.00 target price on shares of Bloom Energy in a research note on Monday, February 13th. Jefferies Financial Group reduced their price target on shares of Bloom Energy from $30.00 to $25.00 in a report on Monday, May 15th. Truist Financial reduced their target price on shares of Bloom Energy from $26.00 to $20.00 in a report on Wednesday, May 10th. Robert W. Baird lowered their price objective on shares of Bloom Energy from $25.00 to $21.00 in a research report on Thursday, May 11th. Finally, Raymond James cut shares of Bloom Energy from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $29.00 to $25.00 in a research report on Wednesday, April 5th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Bloom Energy has an average rating of “Moderate Buy” and a consensus price target of $27.91.

Bloom Energy Stock Up 3.3 %

BE stock opened at $14.42 on Monday. Bloom Energy Co. has a twelve month low of $12.33 and a twelve month high of $31.47. The company has a current ratio of 1.61, a quick ratio of 1.10 and a debt-to-equity ratio of 1.88. The company has a market capitalization of $3.01 billion, a P/E ratio of -9.24 and a beta of 2.86. The firm has a 50 day simple moving average of $16.43 and a 200-day simple moving average of $19.81.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Sharelynn Faye Moore sold 2,016 shares of the business’s stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $18.52, for a total transaction of $37,336.32. Following the sale, the insider now owns 162,175 shares in the company, valued at approximately $3,003,481. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Bloom Energy news, CEO Kr Sridhar sold 177,786 shares of the company’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $18.06, for a total value of $3,210,815.16. Following the sale, the chief executive officer now directly owns 662,872 shares in the company, valued at $11,971,468.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sharelynn Faye Moore sold 2,016 shares of the stock in a transaction on Monday, April 17th. The stock was sold at an average price of $18.52, for a total value of $37,336.32. Following the sale, the insider now owns 162,175 shares in the company, valued at approximately $3,003,481. The disclosure for this sale can be found here. Insiders have sold a total of 248,564 shares of company stock worth $4,223,800 over the last ninety days. 8.81% of the stock is currently owned by corporate insiders.

About Bloom Energy

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Bloom Energy Corp. engages in the manufacture and installation of a solid oxide fuel-cell based power generation platform. Its product, Bloom Energy Server, converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion. The company was founded by K.