Mezzasalma Advisors LLC Purchases 17,598 Shares of Bloom Energy Corporation (NYSE:BE)

Mezzasalma Advisors LLC boosted its stake in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 113.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,139 shares of the company's stock after purchasing an additional 17,598 shares during the period. Mezzasalma Advisors LLC's holdings in Bloom Energy were worth $652,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. M.E. Allison & CO. Inc. lifted its stake in Bloom Energy by 59.3% in the first quarter. M.E. Allison & CO. Inc. now owns 51,030 shares of the company's stock valued at $1,003,000 after acquiring an additional 19,000 shares during the last quarter. Wesbanco Bank Inc. lifted its stake in Bloom Energy by 37.4% in the first quarter. Wesbanco Bank Inc. now owns 147,000 shares of the company's stock valued at $2,890,000 after acquiring an additional 40,000 shares during the last quarter. Joule Financial LLC lifted its stake in Bloom Energy by 99.7% in the first quarter. Joule Financial LLC now owns 31,249 shares of the company's stock valued at $614,000 after acquiring an additional 15,598 shares during the last quarter. Udine Wealth Management Inc. acquired a new stake in Bloom Energy in the first quarter valued at approximately $794,000. Finally, MRA Advisory Group acquired a new stake in Bloom Energy in the first quarter valued at approximately $374,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Bloom Energy Stock Performance

NYSE:BE traded up $0.23 during trading hours on Thursday, hitting $21.57. 5,148,687 shares of the company traded hands, compared to its average volume of 4,325,794. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of -431.31 and a beta of 3.20. Bloom Energy Corporation has a twelve month low of $9.02 and a twelve month high of $29.83. The firm has a 50-day moving average of $19.09 and a 200 day moving average of $21.93. 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 (NYSE:BE - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.10. The firm had revenue of $326.02 million during the quarter, compared to analysts' expectations of $294.27 million. Bloom Energy had a net margin of 0.29% and a return on equity of 2.51%. The business's quarterly revenue was up 38.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.17) EPS. On average, analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insider Activity

In other news, CEO Kr Sridhar sold 42,383 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $19.14, for a total value of $811,210.62. Following the completion of the transaction, the chief executive officer now owns 2,724,613 shares in the company, valued at approximately $52,149,092.82. This represents a 1.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Shawn Marie Soderberg sold 2,780 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total transaction of $54,821.60. Following the completion of the transaction, the insider now owns 152,890 shares of the company's stock, valued at approximately $3,014,990.80. This represents a 1.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,501 shares of company stock worth $1,236,191. 3.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BE shares. Hsbc Global Res upgraded shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Roth Mkm reduced their target price on shares of Bloom Energy from $26.00 to $20.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. HSBC upgraded shares of Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 price objective for the company in a research note on Tuesday, April 8th. Royal Bank Of Canada set a $26.00 price objective on shares of Bloom Energy in a research note on Monday, April 14th. Finally, Mizuho upgraded shares of Bloom Energy from a "neutral" rating to an "outperform" rating and reduced their price objective for the stock from $28.00 to $26.00 in a research note on Monday, May 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $22.97.

Bloom Energy Profile

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.