Bloom Energy Corporation (BE)
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Amalgamated Bank Reduces Holdings in Bloom Energy Co. (NYSE:BE)
Amalgamated Bank trimmed its stake in Bloom Energy Co. (NYSE:BE – Free Report) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,809 shares of the company’s stock after selling 1,954 shares during the period. Amalgamated Bank’s holdings in Bloom Energy were worth $412,000 as of its most recent SEC filing. Several other institutional investors and hedge funds have also recently modified their holdings of BE. Cambridge Investment Research Advisors Inc. lifted its position in shares of Bloom Energy by 7.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 34,725 shares of the company’s stock worth $460,000 after purchasing an additional 2,270 shares during the period. Bank of New York Mellon Corp lifted its position in Bloom Energy by 3.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 714,440 shares of the company’s stock valued at $9,473,000 after acquiring an additional 27,096 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Bloom Energy by 17.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the company’s stock worth $102,000 after acquiring an additional 1,117 shares in the last quarter. California Public Employees Retirement System boosted its stake in Bloom Energy by 15.0% during the third quarter. California Public Employees Retirement System now owns 288,756 shares of the company’s stock worth $3,829,000 after acquiring an additional 37,561 shares in the last quarter. Finally, Parsons Capital Management Inc. RI purchased a new stake in Bloom Energy in the third quarter worth about $471,000. 77.04% of the stock is owned by hedge funds and other institutional investors. Wall Street Analysts Forecast Growth A number of analysts have recently commented on BE shares. Bank of America cut Bloom Energy from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $16.00 to $10.00 in a research report on Monday, January 29th. TD Cowen increased their target price on Bloom Energy from $10.00 to $13.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Evercore ISI lowered their price target on Bloom Energy from $21.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. JPMorgan Chase & Co. downgraded shares of Bloom Energy from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $19.00 to $14.00 in a research report on Friday, February 16th. Finally, KeyCorp cut shares of Bloom Energy from an “overweight” rating to a “sector weight” rating in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $15.74. Read Our Latest Analysis on BE Insider Buying and Selling at Bloom Energy In other Bloom Energy news, CEO Kr Sridhar sold 50,746 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $9.74, for a total value of $494,266.04. Following the transaction, the chief executive officer now directly owns 2,702,608 shares in the company, valued at $26,323,401.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Bloom Energy news, CEO Kr Sridhar sold 50,746 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $9.74, for a total value of $494,266.04. Following the transaction, the chief executive officer now directly owns 2,702,608 shares in the company, valued at $26,323,401.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eddy Zervigon sold 28,150 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $12.86, for a total transaction of $362,009.00. Following the completion of the transaction, the director now owns 111,161 shares in the company, valued at $1,429,530.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 131,291 shares of company stock valued at $1,457,413. Insiders own 8.81% of the company’s stock. Bloom Energy Stock Performance Shares of BE opened at $12.33 on Monday. Bloom Energy Co. has a one year low of $8.41 and a one year high of $18.76. The business has a fifty day moving average of $10.85 and a 200 day moving average of $11.74. The company has a debt-to-equity ratio of 2.56, a current ratio of 4.45 and a quick ratio of 2.97. The firm has a market capitalization of $2.77 billion, a P/E ratio of -9.13 and a beta of 2.77. Bloom Energy (NYSE:BE – Get Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). Bloom Energy had a negative net margin of 22.27% and a negative return on equity of 19.32%. The firm had revenue of $235.30 million for the quarter, compared to the consensus estimate of $254.06 million. As a group, sell-side analysts anticipate that Bloom Energy Co. will post -0.17 EPS for the current year. Bloom Energy Profile (Free Report) 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.
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