40,501 Shares in Bloom Energy Corporation (NYSE:BE) Bought by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC bought a new stake in Bloom Energy Corporation (NYSE:BE - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 40,501 shares of the company's stock, valued at approximately $796,000.

Several other institutional investors and hedge funds also recently modified their holdings of BE. Natixis Advisors LLC bought a new stake in Bloom Energy in the fourth quarter valued at approximately $364,000. Cibc World Markets Corp acquired a new stake in shares of Bloom Energy in the 4th quarter valued at $418,000. Thrivent Financial for Lutherans acquired a new stake in shares of Bloom Energy in the 4th quarter valued at $216,000. Xponance Inc. boosted its holdings in shares of Bloom Energy by 12.4% in the 4th quarter. Xponance Inc. now owns 14,549 shares of the company's stock valued at $323,000 after purchasing an additional 1,607 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Bloom Energy in the 4th quarter valued at $214,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Bloom Energy Trading Down 1.3%

Shares of NYSE:BE traded down $0.32 during trading on Tuesday, reaching $25.04. 1,659,217 shares of the company were exchanged, compared to its average volume of 6,437,013. The firm has a market capitalization of $5.82 billion, a PE ratio of -500.70 and a beta of 3.22. The business's fifty day simple moving average is $21.96 and its 200-day simple moving average is $21.85. Bloom Energy Corporation has a 12-month low of $9.02 and a 12-month high of $29.83. 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 posted 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 net margin of 0.29% and a return on equity of 2.51%. The business had revenue of $326.02 million during the quarter, compared to the consensus estimate of $294.27 million. During the same period in the previous year, the firm posted ($0.17) earnings per share. The business's revenue for the quarter was up 38.5% compared to the same quarter last year. On average, research analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Susquehanna lifted their price objective on Bloom Energy from $26.00 to $30.00 and gave the stock a "positive" rating in a research report on Monday. Royal Bank Of Canada set a $26.00 target price on Bloom Energy in a research note on Monday, April 14th. Hsbc Global Res upgraded Bloom Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. UBS Group restated a "buy" rating on shares of Bloom Energy in a research note on Wednesday, July 2nd. Finally, Roth Mkm reduced their target price on Bloom Energy from $26.00 to $20.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $24.50.

Insider Activity

In other news, insider Satish Chitoori sold 2,038 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $19.73, for a total value of $40,209.74. Following the transaction, the insider directly owned 176,618 shares in the company, valued at approximately $3,484,673.14. This represents a 1.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 transaction of $811,210.62. Following the sale, the chief executive officer directly owned 2,724,613 shares in the company, valued at approximately $52,149,092.82. The trade was a 1.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,513 shares of company stock valued at $1,261,765 in the last ninety days. 3.50% of the stock is currently 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.

Want to see what other hedge funds are holding BE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bloom Energy Corporation (NYSE:BE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.