Vontobel Holding Ltd. Has $5.57 Million Stake in Bloom Energy Co. (NYSE:BE)

Vontobel Holding Ltd. lowered its position in Bloom Energy Co. (NYSE:BE) by 20.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 527,534 shares of the company’s stock after selling 133,488 shares during the quarter. Vontobel Holding Ltd. owned approximately 0.23% of Bloom Energy worth $5,571,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Xponance Inc. lifted its stake in Bloom Energy by 7.8% in the 2nd quarter. Xponance Inc. now owns 12,542 shares of the company’s stock valued at $154,000 after purchasing an additional 903 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Bloom Energy by 2.7% during the 2nd quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock worth $696,000 after acquiring an additional 1,470 shares during the period. Tocqueville Asset Management L.P. boosted its stake in shares of Bloom Energy by 3.1% during the 1st quarter. Tocqueville Asset Management L.P. now owns 59,250 shares of the company’s stock worth $666,000 after acquiring an additional 1,800 shares during the period. ProShare Advisors LLC raised its stake in Bloom Energy by 6.2% in the 1st quarter. ProShare Advisors LLC now owns 46,518 shares of the company’s stock valued at $523,000 after acquiring an additional 2,719 shares during the period. Finally, BNP Paribas bought a new stake in Bloom Energy in the 1st quarter valued at $38,000. Institutional investors own 77.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on BE. Truist Financial decreased their price objective on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Royal Bank of Canada restated an “outperform” rating and set a $15.00 price objective on shares of Bloom Energy in a report on Thursday, June 20th. Bank of America increased their target price on Bloom Energy from $8.00 to $9.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 17th. Finally, Jefferies Financial Group lowered Bloom Energy from a “buy” rating to a “hold” rating and decreased their price objective for the company from $15.00 to $11.00 in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Bloom Energy currently has a consensus rating of “Hold” and a consensus price target of $15.68.

Bloom Energy Stock Down 2.4 %

Shares of BE opened at $10.16 on Friday. The firm has a 50 day simple moving average of $10.86 and a two-hundred day simple moving average of $12.17. The company has a debt-to-equity ratio of 3.43, a current ratio of 4.65 and a quick ratio of 3.33. Bloom Energy Co. has a one year low of $8.41 and a one year high of $18.14. The company has a market cap of $2.31 billion, a P/E ratio of -7.52 and a beta of 2.69.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). The company 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%. Bloom Energy’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.32) EPS. Research analysts forecast that Bloom Energy Co. will post -0.25 EPS for the current fiscal year.

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.