DekaBank Deutsche Girozentrale Sells 138,806 Shares of Bloom Energy Corporation (NYSE:BE)

DekaBank Deutsche Girozentrale trimmed its holdings in Bloom Energy Corporation (NYSE:BE - Free Report) by 21.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 504,591 shares of the company's stock after selling 138,806 shares during the period. DekaBank Deutsche Girozentrale owned 0.22% of Bloom Energy worth $9,889,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Sender Co & Partners Inc. bought a new stake in Bloom Energy in the 4th quarter valued at about $283,000. Select Equity Group L.P. grew its position in Bloom Energy by 125.5% during the fourth quarter. Select Equity Group L.P. now owns 278,515 shares of the company's stock worth $6,186,000 after buying an additional 154,993 shares in the last quarter. SIR Capital Management L.P. increased its stake in Bloom Energy by 155.1% during the 4th quarter. SIR Capital Management L.P. now owns 572,798 shares of the company's stock worth $12,722,000 after acquiring an additional 348,279 shares during the period. Raymond James Financial Inc. acquired a new position in Bloom Energy in the 4th quarter valued at $19,629,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in 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 valued at $36,737,000 after acquiring an additional 10,265 shares in the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Kr Sridhar sold 42,383 shares of Bloom Energy stock in a transaction dated Tuesday, May 13th. The stock was 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 directly owned 2,724,613 shares of the company's stock, valued at approximately $52,149,092.82. This trade represents a 1.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Aman Joshi sold 4,658 shares of Bloom Energy stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $19.72, for a total value of $91,855.76. Following the completion of the transaction, the insider directly owned 131,371 shares of the company's stock, valued at approximately $2,590,636.12. This trade represents a 3.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 62,501 shares of company stock worth $1,236,191. 3.60% of the stock is owned by corporate insiders.

Bloom Energy Stock Performance

BE traded down $0.41 during midday trading on Friday, hitting $25.44. 7,236,700 shares of the company were exchanged, compared to its average volume of 6,280,383. Bloom Energy Corporation has a 1-year low of $9.02 and a 1-year high of $29.83. The firm's 50 day moving average price is $21.01 and its 200-day moving average price is $21.79. The company has a quick ratio of 2.39, a current ratio of 3.44 and a debt-to-equity ratio of 2.07.

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, topping the consensus estimate of ($0.07) by $0.10. The firm had revenue of $326.02 million for the quarter, compared to the consensus estimate of $294.27 million. Bloom Energy had a return on equity of 2.51% and a net margin of 0.29%. The business's quarterly revenue was up 38.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.17) EPS. On average, research analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BE has been the subject of several analyst reports. Piper Sandler dropped their price objective on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Redburn Atlantic cut Bloom Energy from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $14.50 to $10.00 in a report on Wednesday, April 9th. Jefferies Financial Group dropped their price objective on Bloom Energy from $25.00 to $19.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. Royal Bank Of Canada set a $26.00 price target on shares of Bloom Energy in a research report on Monday, April 14th. Finally, 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 report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average 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.