Neo Ivy Capital Management Sells 144,159 Shares of Bloom Energy Corporation (NYSE:BE)

Key Points

• Neo Ivy Capital Management reduced its stake in Bloom Energy Corporation by 83.5%, selling 144,159 shares and leaving it with 28,476 shares valued at approximately $560,000.
• Insider sales included 1,496 shares sold by Shawn Marie Soderberg and 1,012 shares sold by Maciej Kurzymski, indicating a slight decrease in their holdings.
• Bloom Energy reported a net margin of 0.29% and quarterly revenues of $326.02 million, surpassing expectations with a 38.5% increase compared to the previous year.

Neo Ivy Capital Management cut its position in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 83.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,476 shares of the company's stock after selling 144,159 shares during the period. Neo Ivy Capital Management's holdings in Bloom Energy were worth $560,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Quarry LP acquired a new position in shares of Bloom Energy during the fourth quarter worth approximately $35,000. ORG Wealth Partners LLC bought a new position in Bloom Energy during the first quarter valued at about $41,000. Gordian Capital Singapore Pte Ltd acquired a new position in Bloom Energy in the 4th quarter valued at approximately $49,000. Nisa Investment Advisors LLC lifted its position in shares of Bloom Energy by 47.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,373 shares of the company's stock worth $66,000 after acquiring an additional 1,081 shares during the period. Finally, CWM LLC grew its holdings in shares of Bloom Energy by 23.7% during the 1st quarter. CWM LLC now owns 3,360 shares of the company's stock worth $66,000 after purchasing an additional 644 shares in the last quarter. Institutional investors own 77.04% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BE shares. HSBC upgraded Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 target price for the company in a research note on Tuesday, April 8th. Hsbc Global Res raised shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Robert W. Baird decreased their price objective on Bloom Energy from $32.00 to $27.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Roth Mkm dropped their target price on Bloom Energy from $26.00 to $20.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Finally, Piper Sandler cut their target price on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Bloom Energy currently has an average rating of "Moderate Buy" and a consensus price target of $24.97.

Bloom Energy Stock Up 5.9%

BE traded up $2.05 during trading on Wednesday, reaching $36.80. 4,540,977 shares of the stock were exchanged, compared to its average volume of 6,810,915. The stock has a market cap of $8.55 billion, a P/E ratio of -735.85 and a beta of 3.22. Bloom Energy Corporation has a twelve month low of $9.02 and a twelve month high of $36.84. The stock's 50 day moving average price is $23.41 and its two-hundred day moving average price is $22.16. The company has a debt-to-equity ratio of 2.07, a quick ratio of 2.39 and a current ratio of 3.44.

Bloom Energy (NYSE:BE - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $294.27 million. During the same period last year, the business posted ($0.17) EPS. Bloom Energy's revenue was up 38.5% on a year-over-year basis. Equities analysts expect that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insiders Place Their Bets

In other news, insider Maciej Kurzymski sold 1,012 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $25.27, for a total value of $25,573.24. Following the transaction, the insider directly owned 108,848 shares of the company's stock, valued at $2,750,588.96. This represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 transaction of $91,855.76. Following the sale, the insider directly owned 131,371 shares of the company's stock, valued at $2,590,636.12. The trade was a 3.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,513 shares of company stock worth $1,261,765 in the last quarter. Company insiders own 3.50% of the company's stock.

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.