Concurrent Investment Advisors LLC Has $785,000 Stock Holdings in Bloom Energy Corporation (NYSE:BE)

Concurrent Investment Advisors LLC boosted its position in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 208.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,925 shares of the company's stock after purchasing an additional 27,001 shares during the period. Concurrent Investment Advisors LLC's holdings in Bloom Energy were worth $785,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hartline Investment Corp purchased a new position in shares of Bloom Energy during the 1st quarter valued at $204,000. Teacher Retirement System of Texas grew its holdings in shares of Bloom Energy by 662.4% during the 1st quarter. Teacher Retirement System of Texas now owns 73,518 shares of the company's stock valued at $1,445,000 after acquiring an additional 63,875 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Bloom Energy during the 1st quarter valued at $5,848,000. 3Chopt Investment Partners LLC purchased a new position in shares of Bloom Energy during the 1st quarter valued at $399,000. Finally, Palumbo Wealth Management LLC grew its holdings in shares of Bloom Energy by 36.2% during the 1st quarter. Palumbo Wealth Management LLC now owns 16,115 shares of the company's stock valued at $317,000 after acquiring an additional 4,284 shares in the last quarter. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Morgan Stanley lowered 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. Mizuho upgraded shares of Bloom Energy from a "neutral" rating to an "outperform" rating and lowered their price target for the company from $28.00 to $26.00 in a report on Monday, May 5th. Hsbc Global Res upgraded shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Royal Bank Of Canada set a $26.00 price target on shares of Bloom Energy in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. raised shares of Bloom Energy from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $18.00 to $33.00 in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $23.97.

Bloom Energy Stock Performance

BE stock traded down $0.41 during mid-day trading on Friday, reaching $25.44. 7,236,700 shares of the stock traded hands, compared to its average volume of 6,280,383. 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 Corporation has a 52 week low of $9.02 and a 52 week high of $29.83. The business has a 50-day moving average of $21.01 and a two-hundred day moving average of $21.76. The firm has a market capitalization of $5.91 billion, a PE ratio of -508.70 and a beta of 3.22.

Bloom Energy (NYSE:BE - Get Free Report) last released its quarterly earnings results 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 period in the prior year, the company earned ($0.17) earnings per share. The business's quarterly revenue was up 38.5% compared to the same quarter last year. As a group, equities analysts predict that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling at Bloom Energy

In other news, insider Satish Chitoori sold 2,038 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $19.73, for a total transaction of $40,209.74. Following the completion of the transaction, the insider owned 176,618 shares of the company's stock, valued at approximately $3,484,673.14. This represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Aman Joshi sold 4,658 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total transaction of $91,855.76. Following the transaction, the insider directly 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 disclosure for this sale can be found here. Insiders have sold 62,501 shares of company stock valued at $1,236,191 in the last three months. Company insiders own 3.60% 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.