UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 2,511,813 Shares of Bloom Energy Co. (NYSE:BE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in shares of Bloom Energy Co. (NYSE:BE - Free Report) by 74.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 869,521 shares of the company's stock after selling 2,511,813 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.38% of Bloom Energy worth $19,312,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in BE. Mainstream Capital Management LLC bought a new stake in shares of Bloom Energy during the fourth quarter worth about $28,000. Smartleaf Asset Management LLC boosted its holdings in Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock worth $28,000 after purchasing an additional 934 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock worth $33,000 after purchasing an additional 812 shares during the last quarter. Quarry LP purchased a new position in Bloom Energy during the fourth quarter worth about $35,000. Finally, Avior Wealth Management LLC purchased a new position in Bloom Energy during the fourth quarter worth about $40,000. 77.04% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Bloom Energy news, insider Satish Chitoori sold 1,020 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were 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 in the company, valued at $4,482,479.04. This represents a 0.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,496 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $19.89, for a total transaction of $29,755.44. Following the completion of the sale, the insider now owns 229,682 shares in the company, valued at $4,568,374.98. This represents a 0.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,375 shares of company stock worth $1,053,445 in the last three months. 3.60% of the stock is currently owned by corporate insiders.

Bloom Energy Stock Performance

Shares of BE stock traded down $0.09 during trading on Friday, reaching $18.48. 3,322,743 shares of the company's stock traded hands, compared to its average volume of 6,503,503. The company has a market capitalization of $4.29 billion, a P/E ratio of -33.00 and a beta of 3.25. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The firm's 50-day moving average is $18.44 and its 200 day moving average is $22.15. Bloom Energy Co. 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 results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.10. Bloom Energy had a negative net margin of 10.29% and a negative return on equity of 20.32%. The company had revenue of $326.02 million for the quarter, compared to analysts' expectations of $294.27 million. During the same period in the prior year, the company posted ($0.17) EPS. Bloom Energy's revenue was up 38.5% compared to the same quarter last year. Equities research analysts expect that Bloom Energy Co. will post -0.23 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BE shares. Piper Sandler cut their price target on shares of Bloom Energy from $31.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Royal Bank of Canada set a $26.00 price target on shares of Bloom Energy in a report on Monday, April 14th. Morgan Stanley cut their price target 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. Robert W. Baird cut their price target on shares of Bloom Energy from $32.00 to $27.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, Mizuho upgraded shares of Bloom Energy from a "neutral" rating to an "outperform" rating and cut their price target for the stock from $28.00 to $26.00 in a report on Monday, May 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.97.

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.