SIR Capital Management L.P. Boosts Stock Holdings in Bloom Energy Co. (NYSE:BE)

SIR Capital Management L.P. boosted its position in shares of Bloom Energy Co. (NYSE:BE - Free Report) by 155.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 572,798 shares of the company's stock after buying an additional 348,279 shares during the period. Bloom Energy accounts for about 1.3% of SIR Capital Management L.P.'s portfolio, making the stock its 28th largest holding. SIR Capital Management L.P. owned 0.25% of Bloom Energy worth $12,722,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Bloom Energy by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company's stock worth $427,194,000 after purchasing an additional 356,317 shares in the last quarter. Norges Bank purchased a new stake in shares of Bloom Energy during the fourth quarter worth $93,951,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Bloom Energy during the fourth quarter worth $61,968,000. Legal & General Group Plc raised its position in shares of Bloom Energy by 7.3% in the fourth quarter. Legal & General Group Plc now owns 2,133,318 shares of the company's stock valued at $47,381,000 after buying an additional 144,616 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Bloom Energy by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company's stock worth $36,737,000 after buying an additional 10,265 shares in the last quarter. Institutional investors and hedge funds own 77.04% of the company's stock.

Insider Buying and Selling

In related news, CEO Kr Sridhar sold 42,383 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $19.14, for a total value of $811,210.62. Following the sale, the chief executive officer now owns 2,724,613 shares in the company, valued at $52,149,092.82. This represents a 1.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Shawn Marie Soderberg sold 1,496 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $19.89, for a total transaction of $29,755.44. Following the transaction, the insider now owns 229,682 shares of the company's stock, valued at $4,568,374.98. This trade represents a 0.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,375 shares of company stock worth $1,053,445 over the last 90 days. 3.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on BE shares. Piper Sandler cut their price objective on shares of Bloom Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Susquehanna cut their price target on Bloom Energy from $33.00 to $26.00 and set a "positive" rating for the company in a report on Monday, April 14th. Morgan Stanley lowered their price objective on Bloom Energy from $35.00 to $30.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. raised their target price on Bloom Energy from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. Finally, Roth Mkm dropped their price objective on shares of Bloom Energy from $26.00 to $20.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.97.

Bloom Energy Stock Down 4.0%

Bloom Energy stock traded down $0.76 during mid-day trading on Wednesday, reaching $18.35. 1,720,364 shares of the company's stock were exchanged, compared to its average volume of 6,653,217. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. Bloom Energy Co. has a twelve month low of $9.02 and a twelve month high of $29.83. The company has a market cap of $4.26 billion, a P/E ratio of -32.77 and a beta of 3.25. The company has a fifty day moving average of $19.25 and a 200-day moving average of $21.83.

Bloom Energy (NYSE:BE - Get Free Report) last released its 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 during the quarter, compared to analyst estimates of $294.27 million. Bloom Energy had a negative return on equity of 20.32% and a negative net margin of 10.29%. Bloom Energy's revenue was up 38.5% compared to the same quarter last year. During the same period last year, the business posted ($0.17) earnings per share. Sell-side analysts expect that Bloom Energy Co. will post -0.23 EPS for the current 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.