Boston Partners Reduces Stake in Bloom Energy Co.

Boston Partners has significantly reduced its investment in Bloom Energy Co. (NYSE:BE) by 69.4% during the fourth quarter, based on its latest filing with the Securities and Exchange Commission. After selling 34,318 shares during the quarter, the firm now holds 15,156 shares of the company's stock, valued at approximately $337,000.

Bloom Energy is known for its innovative approach in the energy sector, focusing on decentralized energy solutions. Their technology is designed for on-site power generation, converting various fuels into electricity.

Recent Changes from Other Investors

In addition to Boston Partners, other institutional investors have been altering their holdings in Bloom Energy. Elemental Capital Partners LLC entered a new position in the company during the fourth quarter, investing around $33.6 million. Similarly, Raymond James Financial Inc. also bought a new stake valued at approximately $19.6 million.

Moreover, JAT Capital Management LP increased its position by 50% in the third quarter, now owning 2,198,974 shares worth about $23.2 million after acquiring an additional 733,363 shares. Bank of New York Mellon Corp grew its stake by 68.5% during the fourth quarter, purchasing an additional 417,120 shares, and now owns 1,026,488 shares valued at $22.8 million. Erste Asset Management GmbH also entered the picture with a new position worth approximately $3.8 million. Overall, institutional investors hold about 77.04% of Bloom Energy's stock.

Analyst Ratings

Various research analysts have recently provided their insights on Bloom Energy's stock. Morgan Stanley increased their price target from $28.00 to $35.00, labeling the stock as "overweight." Meanwhile, Robert W. Baird elevated their price objective from $15.00 to $32.00, rating the stock as "outperform." On the other hand, Bank of America lowered their target from $20.00 to $18.00 and assigned an "underperform" rating. Market sentiment appears mixed as one analyst has rated the stock with a sell rating, eleven analysts have issued hold ratings, while eight have provided buy ratings, and one has given a strong buy rating. The average rating among analysts leans towards a "Hold" with a target price of around $25.06.

Insider Transactions

Recent insider activities at Bloom Energy have also been noteworthy. Satish Chitoori, an insider, sold 1,020 shares on March 17, at an average price of $25.09, totaling $25,591.80. Following this transaction, Chitoori maintains ownership of 178,656 shares, valued at approximately $4.48 million, marking a slight decrease in their position. Another insider, Shawn Marie Soderberg, sold 1,639 shares on January 16, for $38,385.38, and now holds 171,040 shares valued around $4.01 million. Currently, insiders own about 8.81% of the total shares.

Current Stock Performance

As of Monday, Bloom Energy's stock opened at $23.90, reflecting a decrease of 5.9%. Its 50-day moving average stands at $24.10, while the 200-day moving average is at $19.42. The stock’s market capitalization is approximately $5.51 billion with a price-to-earnings (P/E) ratio of -42.68. Over the past year, Bloom Energy's stock has experienced a low of $9.02 and a high of $29.83.

Company Overview

Bloom Energy Corporation specializes in the design, manufacturing, and installation of solid-oxide fuel cell systems for on-site power generation. Their signature product, the Bloom Energy Server, uses solid oxide technology to convert fuels such as natural gas, biogas, and hydrogen into electricity through an electrochemical process, avoiding combustion.

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