Voloridge Investment Management LLC Purchases 1,100,352 Shares of Bloom Energy Co. (NYSE:BE)

Voloridge Investment Management LLC boosted its holdings in Bloom Energy Co. (NYSE:BE - Free Report) by 323.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,440,428 shares of the company's stock after acquiring an additional 1,100,352 shares during the quarter. Voloridge Investment Management LLC owned 0.63% of Bloom Energy worth $31,992,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BE. Vanguard Group Inc. lifted its holdings in shares of Bloom Energy by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company's stock worth $427,194,000 after acquiring an additional 356,317 shares during the last quarter. Norges Bank purchased a new position in shares of Bloom Energy during the 4th quarter valued at about $93,951,000. Fuller & Thaler Asset Management Inc. bought a new stake in Bloom Energy in the 4th quarter worth approximately $61,968,000. Legal & General Group Plc boosted its stake in Bloom Energy by 7.3% in the fourth quarter. Legal & General Group Plc now owns 2,133,318 shares of the company's stock worth $47,381,000 after buying an additional 144,616 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Bloom Energy by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company's stock worth $36,737,000 after acquiring an additional 10,265 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company's stock.

Bloom Energy Stock Up 1.3%

Shares of NYSE BE traded up $0.26 during mid-day trading on Tuesday, hitting $19.74. 1,243,160 shares of the stock traded hands, compared to its average volume of 6,581,455. The company has a market cap of $4.58 billion, a price-to-earnings ratio of -35.25 and a beta of 3.25. The stock has a fifty day moving average price of $18.82 and a 200-day moving average price of $22.12. Bloom Energy Co. has a 52 week low of $9.02 and a 52 week high of $29.83. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

Bloom Energy (NYSE:BE - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.10. The firm had revenue of $326.02 million for the quarter, compared to analysts' expectations of $294.27 million. Bloom Energy had a negative net margin of 10.29% and a negative return on equity of 20.32%. The company's quarterly revenue was up 38.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.17) EPS. Research analysts anticipate that Bloom Energy Co. will post -0.23 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets reissued a "market perform" rating on shares of Bloom Energy in a research note on Friday, February 28th. Morgan Stanley cut their target price on shares of Bloom Energy from $35.00 to $30.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Susquehanna lowered their price target 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. Hsbc Global Res raised shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Finally, Mizuho upgraded shares of Bloom Energy from a "neutral" rating to an "outperform" rating and decreased their price objective for the company from $28.00 to $26.00 in a research report on Monday, May 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.97.

Insiders Place Their Bets

In other Bloom Energy news, insider Satish Chitoori sold 1,020 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $25.09, for a total value of $25,591.80. Following the sale, the insider now directly owns 178,656 shares of the company's stock, valued at approximately $4,482,479.04. The trade was a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Shawn Marie Soderberg sold 2,780 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total value of $54,821.60. Following the transaction, the insider now owns 152,890 shares of the company's stock, valued at $3,014,990.80. The trade was a 1.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,375 shares of company stock worth $1,053,445. 3.60% of the stock is currently owned by company 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.