Dark Forest Capital Management LP Invests $711,000 in Bloom Energy Co. (NYSE:BE)

Dark Forest Capital Management LP purchased a new position in shares of Bloom Energy Co. (NYSE:BE) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 58,090 shares of the company’s stock, valued at approximately $711,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Millburn Ridgefield Corp increased 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 valued at $37,000 after buying an additional 1,286 shares during the period. BNP Paribas acquired a new position in shares of Bloom Energy during the first quarter worth about $38,000. ORG Partners LLC acquired a new position in shares of Bloom Energy during the second quarter worth about $40,000. Quest Partners LLC raised its holdings in 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 purchasing an additional 3,475 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC acquired a new stake in Bloom Energy in the second quarter valued at about $53,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

Insider Activity

In other Bloom Energy 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 value of $30,425.82. Following the completion of the sale, the insider now directly owns 168,867 shares of the company’s stock, valued at approximately $2,453,637.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 8.81% of the company’s stock.

Bloom Energy Price Performance

BE stock opened at $10.40 on Friday. The stock’s 50 day moving average price is $11.59 and its 200 day moving average price is $12.13. The firm has a market cap of $2.37 billion, a P/E ratio of -7.70 and a beta of 2.69. The company has a debt-to-equity ratio of 3.43, a quick ratio of 3.33 and a current ratio of 4.65. Bloom Energy Co. has a 1 year low of $8.41 and a 1 year high of $18.14.

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

Wall Street Analyst Weigh In

BE has been the topic of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $15.00 target price on shares of Bloom Energy in a research report on Thursday, June 20th. Bank of America upped their price objective on Bloom Energy from $8.00 to $9.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. Truist Financial raised their target price on Bloom Energy from $12.00 to $13.00 and gave the company a “hold” rating in a report on Monday, August 12th. Piper Sandler upped their price target on shares of Bloom Energy from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Finally, UBS Group cut their price target on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Bloom Energy presently has a consensus rating of “Hold” and an average price target of $15.88.

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.