Artemis Investment Management LLP lessened its position in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 21.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,286,256 shares of the company's stock after selling 358,276 shares during the quarter. Artemis Investment Management LLP owned approximately 0.56% of Bloom Energy worth $25,288,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Mainstream Capital Management LLC acquired a new stake in Bloom Energy during the fourth quarter worth $28,000. Smartleaf Asset Management LLC lifted its holdings in shares of Bloom Energy by 291.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock worth $28,000 after acquiring an additional 934 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Bloom Energy by 120.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock valued at $33,000 after acquiring an additional 812 shares in the last quarter. Quarry LP bought a new stake in Bloom Energy in the fourth quarter valued at about $35,000. Finally, ORG Wealth Partners LLC acquired a new position in Bloom Energy in the first quarter worth about $41,000. 77.04% of the stock is currently owned by institutional investors.
Bloom Energy Stock Up 7.6%
NYSE:BE traded up $1.69 during mid-day trading on Monday, hitting $23.87. The company had a trading volume of 10,015,028 shares, compared to its average volume of 6,236,323. The business has a fifty day simple moving average of $19.64 and a 200-day simple moving average of $21.75. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of -477.30 and a beta of 3.21. The company has a current ratio of 3.44, a quick ratio of 2.39 and a debt-to-equity ratio of 2.07. Bloom Energy Corporation has a 1 year low of $9.02 and a 1 year high of $29.83.
Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $326.02 million for the quarter, compared to analysts' expectations of $294.27 million. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. Bloom Energy's revenue for the quarter was up 38.5% compared to the same quarter last year. Equities analysts forecast that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.
Insider Activity
In other Bloom Energy news, insider Maciej Kurzymski sold 8,733 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $22.79, for a total value of $199,025.07. Following the completion of the transaction, the insider now directly owns 109,860 shares in the company, valued at $2,503,709.40. This trade represents a 7.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kr Sridhar sold 42,383 shares of Bloom Energy 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 transaction, the chief executive officer now owns 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. Over the last ninety days, insiders have sold 62,501 shares of company stock valued at $1,236,191. Company insiders own 3.50% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the company. Redburn Atlantic cut Bloom Energy from a "neutral" rating to a "sell" rating and cut their price target for the company from $14.50 to $10.00 in a report on Wednesday, April 9th. Piper Sandler dropped their target price on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Mizuho upgraded Bloom Energy from a "neutral" rating to an "outperform" rating and dropped their price target for the company from $28.00 to $26.00 in a research note on Monday, May 5th. Morgan Stanley cut their price objective on shares of Bloom Energy from $35.00 to $30.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Finally, Susquehanna dropped their target price on shares of Bloom Energy from $33.00 to $26.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $22.97.
Get Our Latest Stock Analysis on Bloom Energy
About Bloom Energy
(
Free Report)
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.
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