Bokf Na Makes New Investment in Bloom Energy Co. (NYSE:BE)

Bokf Na acquired a new position in shares of Bloom Energy Co. (NYSE:BE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 70,325 shares of the company’s stock, valued at approximately $861,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BE. Millburn Ridgefield Corp grew its position in shares of Bloom Energy by 64.0% during the first quarter. Millburn Ridgefield Corp now owns 3,296 shares of the company’s stock worth $37,000 after acquiring an additional 1,286 shares during the last quarter. BNP Paribas purchased a new position in shares of Bloom Energy during the first quarter worth approximately $38,000. ORG Partners LLC purchased a new position in shares of Bloom Energy during the second quarter worth approximately $40,000. Quest Partners LLC grew its position in shares of Bloom Energy by 2,780.0% during the second quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after acquiring an additional 3,475 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC purchased a new position in shares of Bloom Energy during the second quarter worth approximately $53,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

Insiders Place Their Bets

In other Bloom Energy news, insider Shawn Marie Soderberg sold 2,094 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $14.53, for a total value of $30,425.82. Following the completion of the transaction, the insider now owns 168,867 shares in the company, valued at approximately $2,453,637.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.81% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. BTIG Research lifted their price objective on shares of 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 reiterated an “outperform” rating and issued a $15.00 price objective on shares of Bloom Energy in a research report on Thursday, June 20th. Truist Financial lifted their price objective on shares of Bloom Energy from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Wells Fargo & Company lifted their price objective on shares of Bloom Energy from $12.00 to $14.00 and gave the company an “equal weight” rating in a research report on Monday, May 20th. Finally, Jefferies Financial Group lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and decreased their target price for the stock from $15.00 to $11.00 in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Bloom Energy currently has a consensus rating of “Hold” and a consensus target price of $15.88.

Bloom Energy Trading Down 1.7 %

NYSE BE opened at $10.20 on Monday. Bloom Energy Co. has a 12 month low of $8.41 and a 12 month high of $18.14. The company has a 50-day moving average of $12.21 and a 200-day moving average of $12.11. The company has a debt-to-equity ratio of 3.43, a current ratio of 4.65 and a quick ratio of 3.33. The company has a market cap of $2.32 billion, a P/E ratio of -7.56 and a beta of 2.69.

Bloom Energy (NYSE:BE) last issued its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). Bloom Energy had a negative return on equity of 11.90% and a negative net margin of 21.37%. The business had revenue of $335.80 million during the quarter, compared to analysts’ expectations of $307.73 million. During the same quarter in the previous year, the business earned ($0.32) EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, equities analysts predict that Bloom Energy Co. will post -0.25 earnings per share for the current year.

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.