Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in Bloom Energy Co. (NYSE:BE)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Bloom Energy Co. (NYSE:BE) by 433.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,085 shares of the company’s stock after buying an additional 35,005 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Bloom Energy were worth $774,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BE. Slow Capital Inc. acquired a new position in Bloom Energy in the 3rd quarter valued at about $32,000. Nisa Investment Advisors LLC purchased a new position in Bloom Energy in the third quarter valued at $46,000. Steward Partners Investment Advisory LLC boosted its holdings in Bloom Energy by 61.3% in the third quarter. Steward Partners Investment Advisory LLC now owns 3,225 shares of the company’s stock valued at $58,000 after purchasing an additional 1,225 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in Bloom Energy by 54.6% in the second quarter. Ameritas Investment Partners Inc. now owns 7,516 shares of the company’s stock valued at $82,000 after purchasing an additional 2,653 shares during the period. Finally, Private Advisor Group LLC purchased a new position in Bloom Energy in the second quarter valued at $106,000. 35.62% of the stock is owned by institutional investors.

In other news, CEO Kr Sridhar sold 452,299 shares of the firm’s stock in a transaction on Wednesday, November 18th. The stock was sold at an average price of $19.23, for a total value of $8,697,709.77. Following the completion of the transaction, the chief executive officer now owns 768,383 shares in the company, valued at $14,776,005.09. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Shawn Marie Soderberg sold 15,586 shares of the firm’s stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $20.95, for a total value of $326,526.70. The disclosure for this sale can be found here. In the last three months, insiders sold 10,192,429 shares of company stock valued at $163,715,387. 26.82% of the stock is owned by corporate insiders.

BE has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price target on Bloom Energy from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, November 17th. Credit Suisse Group reaffirmed a “buy” rating and set a $24.00 price target on shares of Bloom Energy in a report on Tuesday, August 11th. Zacks Investment Research cut Bloom Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, November 10th. Finally, Oppenheimer reiterated a “hold” rating on shares of Bloom Energy in a research report on Friday, August 21st. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $17.40.

Bloom Energy stock opened at $18.67 on Friday. The stock’s 50 day moving average price is $17.32 and its 200 day moving average price is $13.50. The company has a market cap of $3.10 billion, a PE ratio of -11.60 and a beta of 3.18. The company has a debt-to-equity ratio of 20.91, a current ratio of 1.67 and a quick ratio of 1.33. Bloom Energy Co. has a 1-year low of $3.00 and a 1-year high of $23.38.

Bloom Energy (NYSE:BE) last released its earnings results on Thursday, October 29th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.02. On average, equities research analysts anticipate that Bloom Energy Co. will post -1.17 EPS for the current fiscal year.

Bloom Energy Profile

Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems for on-site power generation. It offers Bloom Energy Server, a stationary power generation platform that converts standard low-pressure natural gas, biogas, or hydrogen into electricity through an electrochemical process without combustion.

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

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