Bloom Energy Co. (NYSE:BE) Shares Sold by Select Equity Group L.P.

Select Equity Group L.P. lessened its stake in Bloom Energy Co. (NYSE:BE) by 70.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 504,693 shares of the company’s stock after selling 1,191,050 shares during the period. Select Equity Group L.P.’s holdings in Bloom Energy were worth $6,177,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Xponance Inc. boosted its holdings in Bloom Energy by 7.8% during the second quarter. Xponance Inc. now owns 12,542 shares of the company’s stock worth $154,000 after buying an additional 903 shares in the last quarter. Millburn Ridgefield Corp lifted its stake in Bloom Energy by 64.0% in the 1st quarter. Millburn Ridgefield Corp now owns 3,296 shares of the company’s stock worth $37,000 after acquiring an additional 1,286 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in Bloom Energy by 9.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,299 shares of the company’s stock worth $226,000 after acquiring an additional 1,308 shares during the period. Arizona State Retirement System grew its stake in 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 acquiring an additional 1,470 shares in the last quarter. Finally, Tocqueville Asset Management L.P. increased its holdings in shares of Bloom Energy by 3.1% in the 1st quarter. Tocqueville Asset Management L.P. now owns 59,250 shares of the company’s stock valued at $666,000 after purchasing an additional 1,800 shares during the period. Institutional investors and hedge funds own 77.04% of the company’s stock.

Analyst Ratings Changes

BE has been the topic of a number of research analyst reports. Truist Financial boosted 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. Jefferies Financial Group cut shares of Bloom Energy from a “buy” rating to a “hold” rating and lowered their price target for the company from $15.00 to $11.00 in a report on Friday, September 6th. UBS Group cut their price objective on Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 15th. BTIG Research boosted their price target on Bloom Energy from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Finally, JPMorgan Chase & Co. raised their target price on Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. One investment 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, the company presently has a consensus rating of “Hold” and an average price target of $15.88.

Bloom Energy Stock Performance

Bloom Energy stock opened at $10.40 on Friday. The company has a quick ratio of 3.33, a current ratio of 4.65 and a debt-to-equity ratio of 3.43. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of -7.70 and a beta of 2.69. The stock has a 50-day simple moving average of $11.59 and a 200 day simple moving average of $12.13. Bloom Energy Co. has a 12-month low of $8.41 and a 12-month high of $18.14.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). Bloom Energy had a negative return on equity of 11.90% and a negative net margin of 21.37%. The firm had revenue of $335.80 million during the quarter, compared to analysts’ expectations of $307.73 million. During the same period in the previous year, the business posted ($0.32) EPS. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, research analysts anticipate that Bloom Energy Co. will post -0.25 earnings per share for the current fiscal year.

Insider Activity

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

About Bloom Energy

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.