Wellington Management Group LLP Decreases Stock Holdings in Bloom Energy Co. (NYSE:BE)

Wellington Management Group LLP trimmed its position in shares of Bloom Energy Co. (NYSE:BE) by 0.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 340,571 shares of the company’s stock after selling 2,690 shares during the quarter. Wellington Management Group LLP’s holdings in Bloom Energy were worth $3,596,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BE. Raymond James & Associates lifted its position in shares of Bloom Energy by 10.7% during the second quarter. Raymond James & Associates now owns 424,892 shares of the company’s stock valued at $5,201,000 after buying an additional 41,202 shares during the last quarter. Gilliland Jeter Wealth Management LLC purchased a new position in shares of Bloom Energy in the 2nd quarter valued at approximately $53,000. LRI Investments LLC purchased a new position in shares of Bloom Energy in the 2nd quarter valued at approximately $490,000. Bank of New York Mellon Corp raised its position in shares of Bloom Energy by 15.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 773,658 shares of the company’s stock valued at $9,470,000 after purchasing an additional 101,519 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Bloom Energy by 9.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 402,408 shares of the company’s stock valued at $4,925,000 after purchasing an additional 34,739 shares during the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

Bloom Energy Price Performance

Shares of NYSE BE opened at $24.77 on Wednesday. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of -45.27 and a beta of 3.04. Bloom Energy Co. has a 12 month low of $8.41 and a 12 month high of $28.70. The firm’s 50 day simple moving average is $17.21 and its 200-day simple moving average is $14.06. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Roth Capital raised shares of Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. Truist Financial decreased their price objective on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, October 16th. HSBC lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price objective for the company. in a research report on Wednesday, November 20th. Morgan Stanley increased their price target on shares of Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Finally, Bank of America increased their price target on shares of Bloom Energy from $7.00 to $20.00 and gave the stock an “underperform” rating in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $22.45.

Insider Activity at Bloom Energy

In related news, CEO Kr Sridhar sold 46,697 shares of Bloom Energy stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $25.00, for a total value of $1,167,425.00. Following the sale, the chief executive officer now owns 1,822,496 shares of the company’s stock, valued at approximately $45,562,400. This trade represents a 2.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction on Monday, November 18th. The shares were sold at an average price of $24.56, for a total transaction of $31,657.84. Following the completion of the sale, the insider now directly owns 168,561 shares in the company, valued at $4,139,858.16. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 122,975 shares of company stock valued at $3,045,019. 8.81% of the stock is owned by company insiders.

Bloom Energy Profile

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.