SG Americas Securities LLC cut its holdings in shares of Bloom Energy Co. (NYSE:BE – Get Rating) by 95.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 25,789 shares of the company's stock after selling 526,332 shares during the quarter. SG Americas Securities LLC's holdings in Bloom Energy were worth $516,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Bloom Energy by 1.6% during the first quarter. BlackRock Inc. now owns 15,892,456 shares of the company's stock worth $383,803,000 after buying an additional 251,745 shares during the period. Clearbridge Investments LLC increased its stake in Bloom Energy by 1.0% during the second quarter. Clearbridge Investments LLC now owns 3,878,130 shares of the company's stock worth $63,989,000 after acquiring an additional 37,418 shares during the last quarter. State Street Corp increased its stake in Bloom Energy by 24.2% during the second quarter. State Street Corp now owns 3,770,342 shares of the company's stock worth $62,211,000 after acquiring an additional 734,694 shares during the last quarter. Handelsbanken Fonder AB increased its stake in Bloom Energy by 38.7% during the third quarter. Handelsbanken Fonder AB now owns 1,992,263 shares of the company's stock worth $39,825,000 after acquiring an additional 555,535 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Bloom Energy by 6.9% during the second quarter. Northern Trust Corp now owns 1,637,717 shares of the company's stock worth $27,021,000 after acquiring an additional 105,027 shares during the last quarter. 79.55% of the stock is currently owned by hedge funds and other institutional investors.
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Several equities research analysts have commented on the company. JPMorgan Chase & Co. dropped their price target on Bloom Energy from $31.00 to $29.00 and set an "overweight" rating for the company in a research note on Thursday, October 20th. Morgan Stanley upgraded Bloom Energy from an "equal weight" rating to an "overweight" rating and dropped their price target for the stock from $37.00 to $35.00 in a research note on Tuesday, January 10th. Truist Financial dropped their price target on Bloom Energy from $31.00 to $20.00 and set a "hold" rating for the company in a research note on Tuesday, October 18th. UBS Group initiated coverage on Bloom Energy in a research note on Tuesday, December 13th. They issued a "buy" rating and a $35.00 target price for the company. Finally, Wells Fargo & Company lowered Bloom Energy from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $27.00 to $22.00 in a research note on Friday, January 6th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $29.93.
Insiders Place Their Bets
In other Bloom Energy news, CMO Sharelynn Faye Moore sold 3,963 shares of the stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $25.00, for a total transaction of $99,075.00. Following the transaction, the chief marketing officer now owns 78,954 shares of the company's stock, valued at approximately $1,973,850. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Bloom Energy news, EVP Guillermo Brooks sold 5,888 shares of the stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $23.48, for a total transaction of $138,250.24. Following the transaction, the executive vice president now owns 41,294 shares of the company's stock, valued at approximately $969,583.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CMO Sharelynn Faye Moore sold 3,963 shares of the stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $25.00, for a total value of $99,075.00. Following the transaction, the chief marketing officer now directly owns 78,954 shares in the company, valued at approximately $1,973,850. The disclosure for this sale can be found here. Insiders have sold a total of 65,387 shares of company stock valued at $1,483,766 in the last quarter. Insiders own 2.78% of the company's stock.Bloom Energy Trading Down 1.5 %
Shares of BE opened at $24.99 on Wednesday. The company has a market capitalization of $4.88 billion, a P/E ratio of -15.52 and a beta of 2.84. Bloom Energy Co. has a one year low of $11.47 and a one year high of $31.47. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.81 and a current ratio of 2.46. The stock has a 50-day moving average price of $21.21 and a 200 day moving average price of $21.35.
Bloom Energy (NYSE:BE – Get Rating) last issued its quarterly earnings results on Thursday, November 3rd. The company reported ($0.33) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.12). The business had revenue of $292.27 million during the quarter, compared to analysts' expectations of $277.53 million. Bloom Energy had a negative net margin of 26.65% and a negative return on equity of 80,741.48%. Sell-side analysts forecast that Bloom Energy Co. will post -1.15 EPS for the current fiscal year.
About Bloom Energy
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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
- Get a free copy of the StockNews.com research report on Bloom Energy (BE)
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