Icon Wealth Advisors LLC Cuts Holdings in Bloom Energy Co. (NYSE:BE)

Icon Wealth Advisors LLC lowered its stake in shares of Bloom Energy Co. (NYSE:BE) by 5.1% in the third quarter, Holdings Channel reports. The institutional investor owned 18,534 shares of the company’s stock after selling 1,000 shares during the period. Icon Wealth Advisors LLC’s holdings in Bloom Energy were worth $196,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Xponance Inc. grew its position in shares of Bloom Energy by 7.8% in the 2nd quarter. Xponance Inc. now owns 12,542 shares of the company’s stock worth $154,000 after buying an additional 903 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Bloom Energy by 2.7% during the 2nd quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock valued at $696,000 after purchasing an additional 1,470 shares during the last quarter. Quest Partners LLC grew its stake in Bloom Energy by 2,780.0% during the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after buying an additional 3,475 shares during the last quarter. ORG Partners LLC acquired a new position in Bloom Energy during the 2nd quarter valued at about $40,000. Finally, Gilliland Jeter Wealth Management LLC raised its stake in Bloom Energy by 97.7% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 8,500 shares of the company’s stock valued at $90,000 after buying an additional 4,200 shares during the last quarter. Institutional investors own 77.04% of the company’s stock.

Insider Activity

In other news, CEO Kr Sridhar sold 72,903 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the completion of the sale, the chief executive officer now owns 1,869,593 shares of the company’s stock, valued at $46,777,216.86. The trade was a 3.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shawn Marie Soderberg sold 1,289 shares of the firm’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 122,975 shares of company stock worth $3,045,019 over the last three months. 8.81% of the stock is currently owned by corporate insiders.

Bloom Energy Price Performance

Shares of Bloom Energy stock opened at $27.45 on Friday. The firm has a market cap of $6.27 billion, a PE ratio of -49.02 and a beta of 2.71. Bloom Energy Co. has a twelve month low of $8.41 and a twelve month high of $28.70. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The business has a 50-day moving average price of $13.88 and a 200 day moving average price of $13.24.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BE shares. HSBC lowered 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. Marathon Capitl upgraded shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. BTIG Research lifted their price objective on shares of Bloom Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Truist Financial cut their target price on Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday, October 16th. Finally, Robert W. Baird lowered their price target on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $19.14.

Bloom Energy Company 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.