Vontobel Holding Ltd. Reduces Holdings in Bloom Energy Corporation (NYSE:BE)

Vontobel Holding Ltd. lowered its holdings in Bloom Energy Corporation (NYSE:BE - Free Report) by 56.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 214,647 shares of the company's stock after selling 274,476 shares during the period. Vontobel Holding Ltd. owned approximately 0.09% of Bloom Energy worth $4,220,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new stake in Bloom Energy during the 1st quarter worth approximately $5,848,000. 3Chopt Investment Partners LLC bought a new stake in Bloom Energy during the 1st quarter worth approximately $399,000. Palumbo Wealth Management LLC increased its holdings in Bloom Energy by 36.2% during the 1st quarter. Palumbo Wealth Management LLC now owns 16,115 shares of the company's stock worth $317,000 after acquiring an additional 4,284 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in Bloom Energy by 54.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 24,669 shares of the company's stock worth $485,000 after acquiring an additional 8,743 shares during the period. Finally, Canton Hathaway LLC bought a new stake in Bloom Energy during the 1st quarter worth approximately $474,000. Institutional investors own 77.04% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. UBS Group reaffirmed a "buy" rating on shares of Bloom Energy in a report on Wednesday. Roth Mkm decreased 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 shares of Bloom Energy from a "neutral" rating to an "outperform" rating and decreased their target price for the stock from $28.00 to $26.00 in a report on Monday, May 5th. Morgan Stanley decreased their price target on shares of Bloom Energy from $35.00 to $30.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Finally, Truist Financial decreased their price target on shares of Bloom Energy from $22.00 to $19.00 and set a "hold" rating on the stock in a report on Monday, April 21st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bloom Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.97.

Bloom Energy Trading Up 7.4%

Shares of Bloom Energy stock traded up $1.68 during trading on Friday, reaching $24.24. The company's stock had a trading volume of 4,391,006 shares, compared to its average volume of 4,784,119. Bloom Energy Corporation has a 52-week low of $9.02 and a 52-week high of $29.83. The company has a market cap of $5.63 billion, a price-to-earnings ratio of -484.70 and a beta of 3.22. The firm's 50-day moving average is $20.23 and its two-hundred day moving average is $21.72. 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 quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating 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 company had revenue of $326.02 million during the quarter, compared to analysts' expectations of $294.27 million. During the same quarter in the prior year, the company earned ($0.17) EPS. The firm's revenue was up 38.5% on a year-over-year basis. On average, sell-side analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insider Buying and Selling

In other Bloom Energy news, insider Aman Joshi sold 4,658 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 $91,855.76. Following the completion of the sale, the insider owned 131,371 shares of the company's stock, valued at $2,590,636.12. This represents a 3.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Maciej Kurzymski sold 8,733 shares of the stock in a transaction 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 sale, the insider directly owned 109,860 shares of the company's stock, valued at $2,503,709.40. The trade was a 7.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,501 shares of company stock worth $1,236,191 in the last ninety days. 3.60% of the stock is currently owned by insiders.

Bloom Energy Company 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.