Mutual of America Capital Management LLC Sells 1,077 Shares of Bloom Energy Co. (NYSE:BE)

Mutual of America Capital Management LLC decreased its position in Bloom Energy Co. (NYSE:BEGet Rating) by 0.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 143,845 shares of the company’s stock after selling 1,077 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Bloom Energy were worth $2,373,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BE. Nisa Investment Advisors LLC bought a new stake in Bloom Energy in the 1st quarter worth approximately $263,000. Steward Partners Investment Advisory LLC lifted its position in Bloom Energy by 24.3% in the first quarter. Steward Partners Investment Advisory LLC now owns 15,440 shares of the company’s stock valued at $373,000 after purchasing an additional 3,017 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its position in Bloom Energy by 53.8% in the first quarter. State of New Jersey Common Pension Fund D now owns 144,246 shares of the company’s stock valued at $3,484,000 after purchasing an additional 50,469 shares during the last quarter. Arizona State Retirement System lifted its position in Bloom Energy by 1.8% in the first quarter. Arizona State Retirement System now owns 39,934 shares of the company’s stock valued at $964,000 after purchasing an additional 687 shares during the last quarter. Finally, Waldron Private Wealth LLC lifted its position in Bloom Energy by 34.8% in the first quarter. Waldron Private Wealth LLC now owns 45,870 shares of the company’s stock valued at $1,107,000 after purchasing an additional 11,848 shares during the last quarter. Institutional investors own 64.19% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BE. Jefferies Financial Group began coverage on Bloom Energy in a research report on Wednesday, October 19th. They issued a “buy” rating and a $29.00 price objective for the company. Susquehanna Bancshares boosted their target price on Bloom Energy from $30.00 to $35.00 and gave the company a “positive” rating in a research note on Friday, August 19th. JPMorgan Chase & Co. reduced their target price on Bloom Energy from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, October 20th. Truist Financial reduced their target price on Bloom Energy from $31.00 to $20.00 and set a “hold” rating on the stock in a research note on Tuesday, October 18th. Finally, Morgan Stanley boosted their target price on Bloom Energy from $21.00 to $37.00 and gave the company an “equal weight” rating in a research note on Thursday, August 18th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Bloom Energy currently has an average rating of “Moderate Buy” and a consensus target price of $30.50.

Bloom Energy Price Performance

Shares of BE stock opened at $21.47 on Wednesday. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of -13.34 and a beta of 2.87. The business’s fifty day moving average is $19.96 and its 200 day moving average is $19.86. Bloom Energy Co. has a twelve month low of $11.47 and a twelve month high of $31.47. The company has a quick ratio of 1.81, a current ratio of 2.46 and a debt-to-equity ratio of 4.44.

Insider Buying and Selling

In other news, EVP Guillermo Brooks sold 1,398 shares of the stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $18.30, for a total value of $25,583.40. Following the sale, the executive vice president now directly owns 23,992 shares of the company’s stock, valued at $439,053.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Guillermo Brooks sold 1,398 shares of the stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $18.30, for a total value of $25,583.40. Following the sale, the executive vice president now directly owns 23,992 shares of the company’s stock, valued at $439,053.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Kr Sridhar sold 8,500 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $25.87, for a total value of $219,895.00. Following the completion of the sale, the chief executive officer now directly owns 493,438 shares in the company, valued at $12,765,241.06. The disclosure for this sale can be found here. Insiders have sold a total of 49,330 shares of company stock valued at $1,182,774 over the last ninety days. Company insiders own 2.78% of the company’s stock.

Bloom Energy Company Profile

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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 power generation platform 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

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

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