Wealth Enhancement Advisory Services LLC Has $360,000 Position in Bloom Energy Co. (NYSE:BE)

Wealth Enhancement Advisory Services LLC trimmed its holdings in shares of Bloom Energy Co. (NYSE:BE) by 27.2% in the second quarter, Holdings Channel.com reports. The firm owned 29,427 shares of the company’s stock after selling 10,999 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Bloom Energy were worth $360,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Millburn Ridgefield Corp raised its position 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 last quarter. BNP Paribas bought a new position in shares of Bloom Energy during the 1st quarter worth approximately $38,000. Quest Partners LLC acquired a new stake in shares of Bloom Energy in the fourth quarter valued at approximately $51,000. Mather Group LLC. bought a new stake in shares of Bloom Energy in the second quarter worth $66,000. Finally, Sciencast Management LP bought a new stake in shares of Bloom Energy in the first quarter worth $133,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on BE. Bank of America lifted their price target on shares of Bloom Energy from $8.00 to $9.00 and gave the company an “underperform” rating in a research note on Wednesday, July 17th. Jefferies Financial Group lowered their target price on Bloom Energy from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Piper Sandler increased their price target on Bloom Energy from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. boosted their price target on Bloom Energy from $12.00 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $15.00 price objective on shares of Bloom Energy in a report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Bloom Energy has an average rating of “Moderate Buy” and an average target price of $16.08.

Bloom Energy Stock Up 5.5 %

BE opened at $11.86 on Friday. The company has a debt-to-equity ratio of 2.56, a quick ratio of 2.97 and a current ratio of 4.45. The stock has a fifty day moving average of $12.72 and a 200-day moving average of $12.01. Bloom Energy Co. has a fifty-two week low of $8.41 and a fifty-two week high of $18.14. The company has a market capitalization of $2.69 billion, a P/E ratio of -8.79 and a beta of 2.80.

Bloom Energy (NYSE:BE) last issued 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 net margin of 22.27% and a negative return on equity of 19.32%. 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 company earned ($0.32) EPS. The business’s revenue was up 11.5% on a year-over-year basis. On average, equities analysts expect that Bloom Energy Co. will post -0.26 EPS for the current year.

Insider Buying and Selling at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 2,094 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $14.53, for a total transaction of $30,425.82. Following 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 legal filing with the SEC, which is accessible through the SEC website. Insiders own 8.81% of the company’s stock.

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.