Central Asset Investments & Management Holdings HK Ltd Has $757,000 Position in Bloom Energy Corporation (NYSE:BE)

Key Points

• Central Asset Investments & Management Holdings HK Ltd reduced its holdings in Bloom Energy Corporation by 35.5%, leaving them with 38,500 shares, valued at approximately $757,000.
• Several institutional investors made significant changes to their positions, including Harbour Investments Inc., which increased its stake by 2,160% during the first quarter, while overall institutional ownership of Bloom Energy stands at 77.04%.
• Bloom Energy reported a profit of $0.10 per share, exceeding estimates, with revenue reaching $401.24 million, an increase of 19.5% compared to the previous year.

Central Asset Investments & Management Holdings HK Ltd reduced its position in Bloom Energy Corporation (NYSE:BE - Free Report) by 35.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,500 shares of the company's stock after selling 21,200 shares during the period. Bloom Energy makes up about 1.3% of Central Asset Investments & Management Holdings HK Ltd's holdings, making the stock its 17th biggest holding. Central Asset Investments & Management Holdings HK Ltd's holdings in Bloom Energy were worth $757,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BE. Raymond James Financial Inc. bought a new position in shares of Bloom Energy during the fourth quarter worth about $19,629,000. Rockefeller Capital Management L.P. lifted its position in shares of Bloom Energy by 22.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 539,047 shares of the company's stock worth $11,972,000 after purchasing an additional 97,493 shares during the last quarter. Summit Investment Advisors Inc. lifted its position in shares of Bloom Energy by 9.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 21,027 shares of the company's stock worth $467,000 after purchasing an additional 1,818 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Bloom Energy during the fourth quarter worth about $364,000. Finally, Jump Financial LLC bought a new position in shares of Bloom Energy during the fourth quarter worth about $6,529,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Maciej Kurzymski sold 8,733 shares of Bloom Energy stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $22.79, for a total transaction of $199,025.07. Following the transaction, the insider directly owned 109,860 shares in the company, valued at approximately $2,503,709.40. The trade was a 7.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,496 shares of Bloom Energy 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 transaction, the insider owned 229,682 shares in the company, valued at approximately $4,568,374.98. The trade was a 0.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,654 shares of company stock worth $263,667. Corporate insiders own 3.60% of the company's stock.

Bloom Energy Price Performance

Bloom Energy stock traded up $1.06 during mid-day trading on Thursday, hitting $45.14. The company's stock had a trading volume of 9,748,272 shares, compared to its average volume of 11,993,023. The company has a quick ratio of 3.21, a current ratio of 4.99 and a debt-to-equity ratio of 2.18. The stock has a market capitalization of $10.56 billion, a P/E ratio of 1,128.78 and a beta of 3.28. Bloom Energy Corporation has a twelve month low of $9.02 and a twelve month high of $46.50. The stock's fifty day moving average price is $28.10 and its two-hundred day moving average price is $23.36.

Bloom Energy (NYSE:BE - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.08. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The firm had revenue of $401.24 million for the quarter, compared to analysts' expectations of $382.23 million. During the same period in the previous year, the company posted ($0.06) EPS. The company's quarterly revenue was up 19.5% compared to the same quarter last year. Research analysts forecast that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BE shares. Truist Financial reduced their price target on shares of Bloom Energy from $22.00 to $19.00 and set a "hold" rating on the stock in a research report on Monday, April 21st. Roth Mkm cut their target price on shares of Bloom Energy from $26.00 to $20.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Mizuho raised their target price on shares of Bloom Energy from $26.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Piper Sandler cut their target price 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. Finally, Morgan Stanley raised their target price on shares of Bloom Energy from $35.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Bloom Energy presently has an average rating of "Moderate Buy" and an average price target of $26.39.

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.