3Chopt Investment Partners LLC Makes New Investment in Bloom Energy Corporation (NYSE:BE)

3Chopt Investment Partners LLC bought a new position in shares of Bloom Energy Corporation (NYSE:BE - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund bought 20,314 shares of the company's stock, valued at approximately $399,000.

A number of other hedge funds also recently made changes to their positions in the business. Palumbo Wealth Management LLC raised its stake in shares of Bloom Energy by 36.2% during the 1st quarter. Palumbo Wealth Management LLC now owns 16,115 shares of the company's stock worth $317,000 after purchasing an additional 4,284 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of Bloom Energy by 54.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 24,669 shares of the company's stock worth $485,000 after purchasing an additional 8,743 shares during the period. Canton Hathaway LLC bought a new stake in shares of Bloom Energy during the 1st quarter worth $474,000. ORG Wealth Partners LLC bought a new stake in shares of Bloom Energy during the 1st quarter worth $41,000. Finally, Lumbard & Kellner LLC raised its stake in shares of Bloom Energy by 1.0% during the 1st quarter. Lumbard & Kellner LLC now owns 348,802 shares of the company's stock worth $6,857,000 after purchasing an additional 3,430 shares during the period. 77.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BE has been the topic of a number of research reports. Jefferies Financial Group lowered their price objective on Bloom Energy from $25.00 to $19.00 and set a "hold" rating on the stock in a research note on Wednesday, April 16th. Roth Mkm lowered their price objective on Bloom Energy from $26.00 to $20.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Truist Financial lowered their price objective on Bloom Energy from $22.00 to $19.00 and set a "hold" rating on the stock in a research note on Monday, April 21st. Royal Bank Of Canada set a $26.00 price objective on Bloom Energy in a research note on Monday, April 14th. Finally, Robert W. Baird lowered their price objective on Bloom Energy from $32.00 to $27.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.97.

Bloom Energy Price Performance

Shares of BE traded down $0.09 during midday trading on Friday, hitting $22.24. 5,081,551 shares of the company traded hands, compared to its average volume of 4,253,691. The stock has a 50-day moving average of $19.64 and a 200-day moving average of $21.77. Bloom Energy Corporation has a one year low of $9.02 and a one year high of $29.83. The firm has a market cap of $5.16 billion, a P/E ratio of -444.71 and a beta of 3.20. The company has a debt-to-equity ratio of 2.07, a current ratio of 3.44 and a quick ratio of 2.39.

Bloom Energy (NYSE:BE - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.10. Bloom Energy had a return on equity of 2.51% and a net margin of 0.29%. The company had revenue of $326.02 million during the quarter, compared to analyst estimates of $294.27 million. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. Bloom Energy's revenue was up 38.5% on a year-over-year basis. As a group, sell-side analysts predict that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 2,780 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $19.72, for a total value of $54,821.60. Following the completion of the sale, the insider now owns 152,890 shares of the company's stock, valued at $3,014,990.80. This represents a 1.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, the chief executive officer now directly owns 2,724,613 shares of the company's stock, valued at approximately $52,149,092.82. This represents a 1.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,501 shares of company stock valued at $1,236,191. 3.60% of the stock is owned by corporate insiders.

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.