DekaBank Deutsche Girozentrale Sells 187,008 Shares of Bloom Energy Co. (NYSE:BE)

DekaBank Deutsche Girozentrale cut its holdings in Bloom Energy Co. (NYSE:BE) by 22.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 643,397 shares of the company’s stock after selling 187,008 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Bloom Energy were worth $6,727,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. BNP Paribas bought a new position in Bloom Energy during the first quarter valued at $38,000. ORG Partners LLC bought a new position in Bloom Energy during the second quarter valued at $40,000. Quest Partners LLC grew 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 valued at $44,000 after purchasing an additional 3,475 shares during the period. Gilliland Jeter Wealth Management LLC bought a new position in Bloom Energy during the second quarter valued at $53,000. Finally, Mather Group LLC. bought a new position in Bloom Energy during the second quarter valued at $66,000. 77.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BE. Bank of America raised their price target on Bloom Energy from $8.00 to $9.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. raised their price target on Bloom Energy from $12.00 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. UBS Group cut their price target on Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Piper Sandler reaffirmed a “neutral” rating and issued a $10.00 price target (down from $11.00) on shares of Bloom Energy in a report on Tuesday. Finally, Truist Financial cut their price target on Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $15.39.

Bloom Energy Trading Down 0.4 %

NYSE BE opened at $10.10 on Thursday. The stock’s 50-day simple moving average is $10.56 and its two-hundred day simple moving average is $12.07. Bloom Energy Co. has a twelve month low of $8.41 and a twelve month high of $18.14. 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 company has a market capitalization of $2.30 billion, a price-to-earnings ratio of -7.48 and a beta of 2.69.

Bloom Energy (NYSE:BE) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, meeting 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 for the quarter, compared to the consensus estimate of $307.73 million. During the same quarter last year, the business posted ($0.32) earnings per share. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. 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.