CastleKnight Management LP Purchases Shares of 31,505 Bloom Energy Co. (NYSE:BE)

CastleKnight Management LP bought a new position in shares of Bloom Energy Co. (NYSE:BE - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 31,505 shares of the company's stock, valued at approximately $700,000.

A number of other hedge funds also recently bought and sold shares of BE. Vanguard Group Inc. lifted its stake in 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 during the period. Norges Bank acquired a new stake in shares of Bloom Energy during the fourth quarter worth approximately $93,951,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Bloom Energy during the fourth quarter worth approximately $61,968,000. Legal & General Group Plc increased its holdings 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 purchasing an additional 144,616 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings 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 valued at $36,737,000 after purchasing an additional 10,265 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BE has been the topic of several recent research reports. Royal Bank of Canada set a $26.00 price target on shares of Bloom Energy in a research note on Monday, April 14th. HSBC upgraded shares of Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 price target on the stock in a research note on Tuesday, April 8th. BMO Capital Markets reiterated a "market perform" rating on shares of Bloom Energy in a research note on Friday, February 28th. Morgan Stanley decreased their price target on shares of Bloom Energy from $35.00 to $30.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Finally, Susquehanna cut their price objective on shares of Bloom Energy from $33.00 to $26.00 and set a "positive" rating for the company in a report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $22.47.

Insider Buying and Selling at Bloom Energy

In related news, insider Satish Chitoori sold 1,020 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the completion of the sale, the insider now owns 178,656 shares in the company, valued at approximately $4,482,479.04. This trade represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.60% of the company's stock.

Bloom Energy Trading Up 7.8%

Shares of BE traded up $1.38 during trading hours on Monday, hitting $19.00. 2,887,491 shares of the stock were exchanged, compared to its average volume of 6,776,174. Bloom Energy Co. has a fifty-two week low of $9.02 and a fifty-two week high of $29.83. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The business has a 50-day moving average of $19.83 and a 200-day moving average of $21.45. The firm has a market capitalization of $4.38 billion, a P/E ratio of -33.93 and a beta of 3.25.

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

Bloom Energy Company 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.