Iridian Asset Management LLC CT Sells 18,487 Shares of Bloom Energy Corporation (NYSE:BE)

Iridian Asset Management LLC CT trimmed its stake in Bloom Energy Corporation (NYSE:BE - Free Report) by 32.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,110 shares of the company's stock after selling 18,487 shares during the quarter. Iridian Asset Management LLC CT's holdings in Bloom Energy were worth $769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Bloom Energy by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company's stock worth $427,194,000 after purchasing an additional 356,317 shares in the last quarter. Norges Bank purchased a new stake in shares of Bloom Energy in the fourth quarter worth approximately $93,951,000. Fuller & Thaler Asset Management Inc. acquired a new position in Bloom Energy in the fourth quarter worth approximately $61,968,000. Legal & General Group Plc increased its holdings in Bloom Energy by 7.3% in the fourth quarter. Legal & General Group Plc now owns 2,133,318 shares of the company's stock worth $47,381,000 after buying an additional 144,616 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Bloom Energy by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company's stock worth $36,737,000 after buying an additional 10,265 shares during the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Susquehanna dropped their price objective on Bloom Energy from $33.00 to $26.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Jefferies Financial Group dropped their price objective on Bloom Energy from $25.00 to $19.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th. Morgan Stanley dropped their price objective on Bloom Energy from $35.00 to $30.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Piper Sandler dropped their price objective on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Finally, Hsbc Global Res upgraded Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Bloom Energy currently has a consensus rating of "Moderate Buy" and an average target price of $23.97.

Insider Buying and Selling

In other news, insider Satish Chitoori sold 2,038 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $19.73, for a total value of $40,209.74. Following the completion of the sale, the insider directly 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 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 the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $19.14, for a total value of $811,210.62. Following the completion of the transaction, the chief executive officer directly owned 2,724,613 shares of the company's stock, valued at approximately $52,149,092.82. This trade represents a 1.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,501 shares of company stock valued at $1,236,191 in the last ninety days. Company insiders own 3.60% of the company's stock.

Bloom Energy Stock Performance

BE stock traded down $0.41 during midday trading on Friday, hitting $25.44. 7,236,700 shares of the company traded hands, compared to its average volume of 6,280,383. 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. The stock has a market capitalization of $5.91 billion, a price-to-earnings ratio of -508.70 and a beta of 3.22. The business has a 50 day simple moving average of $21.01 and a 200-day simple moving average of $21.78.

Bloom Energy (NYSE:BE - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.10. Bloom Energy had a return on equity of 2.51% and a net margin of 0.29%. 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 business earned ($0.17) earnings per share. Bloom Energy's revenue for the quarter was up 38.5% compared to the same quarter last year. As a group, equities research analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Bloom Energy Company 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.