GAMMA Investing LLC Increases Stake in Bloom Energy Co. (NYSE:BE)

GAMMA Investing LLC boosted its position in Bloom Energy Co. (NYSE:BE - Free Report) by 2,149.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,513 shares of the company's stock after buying an additional 57,823 shares during the period. GAMMA Investing LLC's holdings in Bloom Energy were worth $1,190,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Bloom Energy during the 4th quarter worth about $93,951,000. Fuller & Thaler Asset Management Inc. purchased a new stake in Bloom Energy in the 4th quarter valued at about $61,968,000. Trivest Advisors Ltd acquired a new position in Bloom Energy in the fourth quarter valued at about $30,539,000. Voloridge Investment Management LLC boosted its stake in Bloom Energy by 323.6% during the fourth quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company's stock worth $31,992,000 after buying an additional 1,100,352 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Bloom Energy by 306.3% during the fourth quarter. Wellington Management Group LLP now owns 1,383,897 shares of the company's stock valued at $30,736,000 after acquiring an additional 1,043,326 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BE. Piper Sandler decreased their price objective on shares of Bloom Energy from $31.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. BMO Capital Markets restated a "market perform" rating on shares of Bloom Energy in a research note on Friday, February 28th. Jefferies Financial Group dropped their price objective on Bloom Energy from $25.00 to $19.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th. Robert W. Baird cut 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. Finally, Roth Mkm decreased their target price on Bloom Energy from $26.00 to $20.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Bloom Energy has a consensus rating of "Moderate Buy" and a consensus price target of $22.97.

Bloom Energy Stock Up 4.3%

Shares of BE traded up $0.95 during midday trading on Monday, reaching $22.90. The stock had a trading volume of 5,347,441 shares, compared to its average volume of 6,353,154. The company has a market cap of $5.32 billion, a price-to-earnings ratio of -40.89 and a beta of 3.20. The company's fifty day simple moving average is $18.73 and its two-hundred day simple moving average is $22.01. Bloom Energy Co. has a 1-year low of $9.02 and a 1-year high of $29.83. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.

Bloom Energy (NYSE:BE - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.10. Bloom Energy had a negative return on equity of 20.32% and a negative net margin of 10.29%. The business 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 firm posted ($0.17) EPS. The business's quarterly revenue was up 38.5% compared to the same quarter last year. Equities research analysts expect that Bloom Energy Co. will post -0.23 earnings per share for the current year.

Insider Buying and Selling at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 2,780 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $19.72, for a total value of $54,821.60. Following the completion of the sale, the insider now directly owns 152,890 shares of the company's stock, valued at approximately $3,014,990.80. This represents a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kr Sridhar sold 42,383 shares of Bloom Energy stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $19.14, for a total transaction of $811,210.62. Following the completion of the transaction, the chief executive officer now directly owns 2,724,613 shares in the company, valued at $52,149,092.82. The trade was a 1.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 53,355 shares of company stock worth $1,027,853 over the last 90 days. Corporate 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.