Canton Hathaway LLC Purchases New Holdings in Bloom Energy Corporation (NYSE:BE)

Canton Hathaway LLC purchased a new position in shares of Bloom Energy Corporation (NYSE:BE - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,100 shares of the company's stock, valued at approximately $474,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BE. Mainstream Capital Management LLC bought a new position in shares of Bloom Energy during the fourth quarter worth $28,000. Smartleaf Asset Management LLC boosted its position in shares of 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 in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of 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 acquiring an additional 812 shares during the period. Quarry LP acquired a new stake in shares of Bloom Energy during the fourth quarter worth $35,000. Finally, ORG Wealth Partners LLC acquired a new stake in Bloom Energy in the 1st quarter valued at $41,000. 77.04% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Aman Joshi sold 4,658 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total value of $91,855.76. Following the completion of the sale, the insider now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shawn Marie Soderberg sold 2,780 shares of the company'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 $3,014,990.80. This represents a 1.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,501 shares of company stock valued at $1,236,191 over the last quarter. Company insiders own 3.50% of the company's stock.

Bloom Energy Stock Up 1.3%

NYSE:BE traded up $0.29 during trading hours on Friday, reaching $21.79. The company had a trading volume of 2,968,658 shares, compared to its average volume of 3,988,627. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of -435.71 and a beta of 3.21. The business's 50-day simple moving average is $19.17 and its two-hundred day simple moving average is $21.84. Bloom Energy Corporation has a twelve month low of $9.02 and a twelve month high of $29.83. 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 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.10. The business had revenue of $326.02 million for the quarter, compared to analyst estimates of $294.27 million. Bloom Energy had a net margin of 0.29% and a return on equity of 2.51%. The company's revenue for the quarter was up 38.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. On average, equities analysts expect that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Royal Bank Of Canada set a $26.00 target price on shares of Bloom Energy in a research note on Monday, April 14th. Jefferies Financial Group cut their price objective on shares of Bloom Energy from $25.00 to $19.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. Redburn Atlantic downgraded shares of Bloom Energy from a "neutral" rating to a "sell" rating and dropped their price target for the company from $14.50 to $10.00 in a research note on Wednesday, April 9th. Truist Financial dropped their price target on shares of Bloom Energy from $22.00 to $19.00 and set a "hold" rating for the company in a research note on Monday, April 21st. Finally, TD Cowen raised their price target on shares of Bloom Energy from $13.00 to $20.00 and gave the company a "hold" rating in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Bloom Energy has an average rating of "Moderate Buy" and an average price target of $22.97.

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.