Canal Insurance CO Cuts Position in Bloom Energy Corporation (NYSE:BE)

Canal Insurance CO lowered its holdings in Bloom Energy Corporation (NYSE:BE - Free Report) by 38.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 80,000 shares of the company's stock after selling 51,000 shares during the quarter. Canal Insurance CO's holdings in Bloom Energy were worth $1,573,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Mainstream Capital Management LLC purchased a new stake in shares of Bloom Energy during the 4th quarter worth approximately $28,000. Smartleaf Asset Management LLC raised its holdings in Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock worth $28,000 after purchasing an additional 934 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock worth $33,000 after purchasing an additional 812 shares in the last quarter. Quarry LP acquired a new stake in Bloom Energy in the fourth quarter valued at $35,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of Bloom Energy in the first quarter valued at $41,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Bloom Energy Trading Up 3.3%

NYSE BE opened at $22.31 on Friday. The stock has a market cap of $5.18 billion, a P/E ratio of -446.11 and a beta of 3.20. The company's fifty day simple moving average is $19.54 and its 200-day simple moving average is $21.79. The company has a current ratio of 3.44, a quick ratio of 2.39 and a debt-to-equity ratio of 2.07. Bloom Energy Corporation has a 52 week low of $9.02 and a 52 week high of $29.83.

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 firm had revenue of $326.02 million for the quarter, compared to analyst estimates of $294.27 million. During the same quarter in the previous year, the business posted ($0.17) EPS. The firm's revenue was up 38.5% compared to the same quarter last year. Equities research analysts predict that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Aman Joshi sold 4,658 shares of the company's stock in a transaction that occurred on 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 now directly owns 131,371 shares of the company's stock, valued at approximately $2,590,636.12. This represents a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Shawn Marie Soderberg sold 2,780 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total transaction of $54,821.60. Following the sale, the insider now owns 152,890 shares of the company's stock, valued at approximately $3,014,990.80. The trade was a 1.79% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,501 shares of company stock worth $1,236,191. Insiders own 3.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BE shares. Hsbc Global Res upgraded shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Susquehanna reduced their price target on shares of Bloom Energy from $33.00 to $26.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Morgan Stanley reduced their price target on Bloom Energy from $35.00 to $30.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Truist Financial lowered their price objective on Bloom Energy from $22.00 to $19.00 and set a "hold" rating for the company in a research report on Monday, April 21st. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of Bloom Energy in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $22.97.

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.

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