Bloom Energy Co. (NYSE:BE) Stock Position Reduced by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ decreased its holdings in shares of Bloom Energy Co. (NYSE:BE) by 13.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 295,328 shares of the company’s stock after selling 47,642 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.13% of Bloom Energy worth $3,615,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Millburn Ridgefield Corp lifted its holdings in shares of Bloom Energy by 64.0% in the first 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 stake in shares of Bloom Energy during the first quarter worth approximately $38,000. Quest Partners LLC purchased a new position in Bloom Energy during the fourth quarter valued at approximately $51,000. ORG Partners LLC acquired a new position in Bloom Energy in the 2nd quarter valued at approximately $40,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new position in shares of Bloom Energy during the 2nd quarter valued at $53,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Shawn Marie Soderberg sold 2,094 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $14.53, for a total value of $30,425.82. Following the completion of the transaction, the insider now directly owns 168,867 shares in the company, valued at $2,453,637.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.81% of the stock is currently owned by company insiders.

Bloom Energy Stock Performance

Shares of Bloom Energy stock opened at $10.91 on Monday. Bloom Energy Co. has a 52 week low of $8.41 and a 52 week high of $18.14. The company has a 50 day moving average price of $11.94 and a 200 day moving average price of $12.15. 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 firm has a market capitalization of $2.48 billion, a P/E ratio of -8.08 and a beta of 2.69.

Bloom Energy (NYSE:BE) last posted its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). Bloom Energy had a negative net margin of 21.37% and a negative return on equity of 11.90%. The business had revenue of $335.80 million for the quarter, compared to analyst estimates of $307.73 million. During the same period in the prior year, the company posted ($0.32) EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. Sell-side analysts expect that Bloom Energy Co. will post -0.25 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on BE. Truist Financial increased their target price on shares of Bloom Energy from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. BTIG Research increased their target price on Bloom Energy from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Royal Bank of Canada reaffirmed 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 raised their price objective on shares of Bloom Energy from $8.00 to $9.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Finally, UBS Group reduced their target price on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.88.

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.