Hartline Investment Corp Invests $204,000 in Bloom Energy Corporation (NYSE:BE)

Hartline Investment Corp purchased a new position in Bloom Energy Corporation (NYSE:BE - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,398 shares of the company's stock, valued at approximately $204,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc increased its stake in Bloom Energy by 130.2% in the 4th quarter. IFP Advisors Inc now owns 3,914 shares of the company's stock worth $87,000 after purchasing an additional 2,214 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Bloom Energy by 68.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,026,488 shares of the company's stock worth $22,798,000 after purchasing an additional 417,120 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Bloom Energy in the 4th quarter worth about $787,000. Smartleaf Asset Management LLC increased its stake in Bloom Energy by 291.0% in the 4th 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. Finally, Jones Financial Companies Lllp increased its stake in Bloom Energy by 120.5% in the 4th 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. 77.04% of the stock is currently owned by institutional investors.

Insider Activity at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 42,383 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $19.14, for a total transaction of $811,210.62. Following the transaction, the chief executive officer owned 2,724,613 shares in the company, valued at $52,149,092.82. This trade represents a 1.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Satish Chitoori sold 2,038 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $19.73, for a total value of $40,209.74. Following the transaction, the insider owned 176,618 shares in the company, valued at approximately $3,484,673.14. This trade represents a 1.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,501 shares of company stock valued at $1,236,191. 3.50% of the stock is owned by company insiders.

Bloom Energy Stock Up 0.6%

Shares of NYSE BE traded up $0.14 during trading hours on Monday, hitting $24.38. The stock had a trading volume of 6,808,391 shares, compared to its average volume of 4,521,412. The company has a market capitalization of $5.66 billion, a P/E ratio of -487.50 and a beta of 3.22. The firm's 50-day moving average price is $20.33 and its two-hundred day moving average price is $21.71. Bloom Energy Corporation has a 52 week low of $9.02 and a 52 week high of $29.83. The company has a debt-to-equity ratio of 2.07, a quick ratio of 2.39 and a current ratio of 3.44.

Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.10. The business had revenue of $326.02 million during the quarter, compared to analysts' expectations of $294.27 million. Bloom Energy had a return on equity of 2.51% and a net margin of 0.29%. The firm's quarterly revenue was up 38.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.17) EPS. Analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Redburn Atlantic cut Bloom Energy from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $14.50 to $10.00 in a research note on Wednesday, April 9th. Piper Sandler dropped their price target on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Roth Mkm dropped their price target 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. Hsbc Global Res raised Bloom Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Finally, Susquehanna lowered their target price on Bloom Energy from $33.00 to $26.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Bloom Energy presently has an average rating of "Moderate Buy" and a consensus target price 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.