Handelsbanken Fonder AB Sells 386,164 Shares of Bloom Energy Co. (NYSE:BE)

Handelsbanken Fonder AB reduced its stake in Bloom Energy Co. (NYSE:BE - Free Report) by 84.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,100 shares of the company's stock after selling 386,164 shares during the period. Handelsbanken Fonder AB's holdings in Bloom Energy were worth $1,359,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of BE. Wesbanco Bank Inc. boosted its position in shares of Bloom Energy by 37.4% during the first quarter. Wesbanco Bank Inc. now owns 147,000 shares of the company's stock valued at $2,890,000 after buying an additional 40,000 shares during the last quarter. Joule Financial LLC boosted its holdings in Bloom Energy by 99.7% in the first quarter. Joule Financial LLC now owns 31,249 shares of the company's stock worth $614,000 after purchasing an additional 15,598 shares during the last quarter. Udine Wealth Management Inc. purchased a new stake in Bloom Energy during the 1st quarter valued at $794,000. MRA Advisory Group bought a new position in shares of Bloom Energy during the 1st quarter valued at $374,000. Finally, Chesley Taft & Associates LLC boosted its stake in shares of Bloom Energy by 27.7% in the 1st quarter. Chesley Taft & Associates LLC now owns 12,956 shares of the company's stock worth $255,000 after buying an additional 2,807 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Bloom Energy news, insider Aman Joshi sold 4,658 shares of Bloom Energy 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 sale, the insider now owns 131,371 shares of the company's stock, valued at $2,590,636.12. The trade was a 3.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kr Sridhar sold 42,383 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 2,724,613 shares of the company's stock, valued at approximately $52,149,092.82. The trade was a 1.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,375 shares of company stock valued at $1,053,445. 3.60% of the stock is owned by corporate insiders.

Bloom Energy Stock Down 1.4%

Bloom Energy stock opened at $21.94 on Friday. Bloom Energy Co. has a fifty-two week low of $9.02 and a fifty-two week high of $29.83. The company has a market cap of $5.10 billion, a PE ratio of -39.18 and a beta of 3.20. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The business's 50-day simple moving average is $18.73 and its two-hundred day simple moving average is $22.04.

Bloom Energy (NYSE:BE - Get Free Report) last posted its 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 negative net margin of 10.29% and a negative return on equity of 20.32%. The company had revenue of $326.02 million during the quarter, compared to the consensus estimate of $294.27 million. During the same period in the previous year, the firm posted ($0.17) earnings per share. The firm's quarterly revenue was up 38.5% on a year-over-year basis. Equities analysts anticipate that Bloom Energy Co. will post -0.23 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on BE shares. Piper Sandler dropped their target price on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Royal Bank of Canada set a $26.00 price target on shares of Bloom Energy in a research note on Monday, April 14th. Robert W. Baird reduced their price objective on Bloom Energy from $32.00 to $27.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Truist Financial cut their price target on Bloom Energy from $22.00 to $19.00 and set a "hold" rating for the company in a report on Monday, April 21st. Finally, BMO Capital Markets reaffirmed a "market perform" rating on shares of Bloom Energy in a research report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.