Vanguard Group Inc. Acquires 307,627 Shares of Bloom Energy Co. (NYSE:BE)

Vanguard Group Inc. grew its holdings in shares of Bloom Energy Co. (NYSE:BE) by 1.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 19,528,801 shares of the company’s stock after acquiring an additional 307,627 shares during the period. Vanguard Group Inc. owned approximately 0.09% of Bloom Energy worth $289,026,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in BE. Norges Bank bought a new stake in Bloom Energy in the fourth quarter worth $82,678,000. Coatue Management LLC boosted its stake in Bloom Energy by 28.3% in the 4th quarter. Coatue Management LLC now owns 4,436,901 shares of the company’s stock worth $65,666,000 after purchasing an additional 978,053 shares in the last quarter. FMR LLC grew its position in Bloom Energy by 168.8% during the 3rd quarter. FMR LLC now owns 3,524,361 shares of the company’s stock valued at $46,733,000 after purchasing an additional 2,213,167 shares during the last quarter. Northern Trust Corp increased its stake in Bloom Energy by 3.8% during the 3rd quarter. Northern Trust Corp now owns 1,920,938 shares of the company’s stock valued at $25,472,000 after purchasing an additional 70,248 shares in the last quarter. Finally, Electron Capital Partners LLC bought a new position in shares of Bloom Energy in the fourth quarter worth approximately $27,796,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Insiders Place Their Bets

In other news, Director Eddy Zervigon sold 28,150 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $12.86, for a total value of $362,009.00. Following the transaction, the director now owns 111,161 shares of the company’s stock, valued at $1,429,530.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Eddy Zervigon sold 28,150 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $12.86, for a total value of $362,009.00. Following the sale, the director now directly owns 111,161 shares in the company, valued at $1,429,530.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kr Sridhar sold 40,112 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $11.93, for a total value of $478,536.16. Following the transaction, the chief executive officer now directly owns 2,742,496 shares of the company’s stock, valued at $32,717,977.28. The disclosure for this sale can be found here. Insiders sold 78,385 shares of company stock worth $943,038 in the last three months. 8.81% of the stock is owned by company insiders.

Bloom Energy Stock Performance

Shares of NYSE BE opened at $12.24 on Friday. The company has a debt-to-equity ratio of 2.56, a current ratio of 4.45 and a quick ratio of 2.97. Bloom Energy Co. has a 1 year low of $8.41 and a 1 year high of $18.76. The firm has a fifty day moving average price of $13.36 and a 200-day moving average price of $12.17. The stock has a market cap of $2.78 billion, a PE ratio of -9.07 and a beta of 2.83.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.09). Bloom Energy had a negative net margin of 22.27% and a negative return on equity of 19.32%. The business had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $254.06 million. Equities analysts anticipate that Bloom Energy Co. will post -0.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BE has been the subject of a number of recent analyst reports. Truist Financial upgraded shares of Bloom Energy from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $9.00 to $11.00 in a report on Wednesday, March 6th. BTIG Research increased their price objective on Bloom Energy from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Royal Bank of Canada restated an “outperform” rating and set a $15.00 price objective on shares of Bloom Energy in a research report on Thursday, June 20th. Susquehanna cut their target price on shares of Bloom Energy from $18.00 to $16.00 and set a “positive” rating for the company in a research report on Wednesday, March 27th. Finally, Morgan Stanley reissued an “overweight” rating and set a $22.00 price target on shares of Bloom Energy in a report on Monday, March 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Bloom Energy presently has a consensus rating of “Hold” and a consensus target price of $15.69.

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.