Cambridge Investment Research Advisors Inc. Increases Position in Bloom Energy Corporation (NYSE:BE)

Cambridge Investment Research Advisors Inc. lifted its holdings in Bloom Energy Corporation (NYSE:BE - Free Report) by 54.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,669 shares of the company's stock after purchasing an additional 8,743 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Bloom Energy were worth $485,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Sender Co & Partners Inc. purchased a new position in Bloom Energy during the 4th quarter valued at $283,000. Select Equity Group L.P. boosted its stake in shares of Bloom Energy by 125.5% during the fourth quarter. Select Equity Group L.P. now owns 278,515 shares of the company's stock valued at $6,186,000 after purchasing an additional 154,993 shares during the period. SIR Capital Management L.P. grew its holdings in shares of Bloom Energy by 155.1% in the fourth quarter. SIR Capital Management L.P. now owns 572,798 shares of the company's stock worth $12,722,000 after purchasing an additional 348,279 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Bloom Energy in the 4th quarter worth about $19,629,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Bloom Energy by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company's stock valued at $36,737,000 after buying an additional 10,265 shares in the last quarter. Hedge funds and other institutional investors own 77.04% of the company's stock.

Bloom Energy Stock Performance

NYSE BE traded down $2.94 on Thursday, reaching $25.77. 18,535,036 shares of the company's stock traded hands, compared to its average volume of 6,475,415. Bloom Energy Corporation has a fifty-two week low of $9.02 and a fifty-two week high of $29.83. The company has a debt-to-equity ratio of 2.07, a quick ratio of 2.39 and a current ratio of 3.44. The firm has a market cap of $5.98 billion, a price-to-earnings ratio of -515.30 and a beta of 3.22. The stock has a 50 day moving average price of $20.65 and a 200-day moving average price of $21.78.

Bloom Energy (NYSE:BE - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $294.27 million. During the same quarter last year, the company earned ($0.17) EPS. The business's revenue was up 38.5% on a year-over-year basis. Equities research analysts predict that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Insider Activity

In related news, insider Satish Chitoori sold 2,038 shares of Bloom Energy stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $19.73, for a total value of $40,209.74. Following the sale, the insider directly owned 176,618 shares in the company, valued at approximately $3,484,673.14. The trade was a 1.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Kr Sridhar sold 42,383 shares of the firm's 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 owned 2,724,613 shares in the company, valued at $52,149,092.82. The trade was a 1.53% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,501 shares of company stock worth $1,236,191. Insiders own 3.60% of the company's stock.

Analysts Set New Price Targets

BE has been the subject of a number of research analyst reports. Robert W. Baird decreased their target price on Bloom Energy from $32.00 to $27.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Susquehanna lowered their price objective on shares of Bloom Energy from $33.00 to $26.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Hsbc Global Res upgraded shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Truist Financial reduced their price target on shares of Bloom Energy from $22.00 to $19.00 and set a "hold" rating for the company in a report on Monday, April 21st. Finally, JPMorgan Chase & Co. upgraded shares of Bloom Energy from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $18.00 to $33.00 in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $23.97.

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.