Algert Global LLC Invests $1.03 Million in Bloom Energy Co. (NYSE:BE)

Algert Global LLC bought a new position in shares of Bloom Energy Co. (NYSE:BE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 46,140 shares of the company's stock, valued at approximately $1,025,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. SPX Gestao de Recursos Ltda bought a new stake in Bloom Energy during the 4th quarter worth about $4,442,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Bloom Energy by 184.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 404,204 shares of the company's stock valued at $9,209,000 after purchasing an additional 262,247 shares during the period. Raymond James Financial Inc. acquired a new position in Bloom Energy during the 4th quarter valued at about $19,629,000. Charles Schwab Investment Management Inc. lifted its position in Bloom Energy by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company's stock valued at $36,737,000 after purchasing an additional 10,265 shares during the period. Finally, Bailard Inc. acquired a new position in Bloom Energy during the 4th quarter valued at about $1,278,000. Institutional investors own 77.04% of the company's stock.

Analysts Set New Price Targets

BE has been the topic of a number of analyst reports. BMO Capital Markets reiterated a "market perform" rating on shares of Bloom Energy in a research report on Friday, February 28th. Susquehanna dropped their target price on shares of Bloom Energy from $33.00 to $26.00 and set a "positive" rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. raised their price target on shares of Bloom Energy from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. Robert W. Baird decreased their price target on shares of Bloom Energy from $32.00 to $27.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Finally, Truist Financial decreased their target price on shares of Bloom Energy from $22.00 to $19.00 and set a "hold" rating for the company in a research note on Monday, April 21st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Bloom Energy has an average rating of "Moderate Buy" and an average target price of $22.47.

Insiders Place Their Bets

In other news, insider Aman Joshi sold 4,658 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $19.72, for a total value of $91,855.76. Following the completion of the transaction, the insider now owns 131,371 shares of the company's stock, valued at $2,590,636.12. This represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Satish Chitoori sold 1,020 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the transaction, the insider now directly owns 178,656 shares of the company's stock, valued at approximately $4,482,479.04. The trade was a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,879 shares of company stock worth $1,023,690 over the last quarter. 3.50% of the stock is currently owned by corporate insiders.

Bloom Energy Stock Down 2.6%

Bloom Energy stock traded down $0.52 during mid-day trading on Thursday, hitting $19.73. The company had a trading volume of 2,702,837 shares, compared to its average volume of 6,754,485. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The stock's 50 day moving average price is $19.60 and its two-hundred day moving average price is $21.49. Bloom Energy Co. has a 12 month low of $9.02 and a 12 month high of $29.83. The company has a market capitalization of $4.58 billion, a PE ratio of -35.23 and a beta of 3.25.

Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.10. The firm had revenue of $326.02 million for the quarter, compared to the consensus estimate of $294.27 million. Bloom Energy had a negative return on equity of 20.32% and a negative net margin of 10.29%. The company's quarterly revenue was up 38.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.17) earnings per share. As a group, sell-side analysts anticipate that Bloom Energy Co. will post -0.23 earnings per share for the current fiscal year.

About Bloom Energy

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.