Joule Financial LLC Buys 15,598 Shares of Bloom Energy Co. (NYSE:BE)

Joule Financial LLC boosted its stake in Bloom Energy Co. (NYSE:BE - Free Report) by 99.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,249 shares of the company's stock after buying an additional 15,598 shares during the quarter. Joule Financial LLC's holdings in Bloom Energy were worth $614,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in Bloom Energy by 184.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 404,204 shares of the company's stock valued at $9,209,000 after buying an additional 262,247 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Bloom Energy in the 4th quarter worth approximately $495,000. Mezzasalma Advisors LLC acquired a new position in shares of Bloom Energy in the 4th quarter worth approximately $345,000. Seelaus Asset Management LLC bought a new stake in Bloom Energy during the 4th quarter worth approximately $241,000. Finally, Rhumbline Advisers increased its holdings in Bloom Energy by 0.7% during the 4th quarter. Rhumbline Advisers now owns 290,071 shares of the company's stock valued at $6,442,000 after purchasing an additional 2,147 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors.

Bloom Energy Stock Up 6.7%

NYSE:BE opened at $21.81 on Friday. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. Bloom Energy Co. has a 12-month low of $9.02 and a 12-month high of $29.83. The stock's fifty day simple moving average is $18.36 and its 200-day simple moving average is $22.20. The firm has a market capitalization of $5.06 billion, a P/E ratio of -38.95 and a beta of 3.25.

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

Wall Street Analysts Forecast Growth

BE has been the topic of several research analyst reports. Morgan Stanley decreased their target price on Bloom Energy from $35.00 to $30.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Robert W. Baird decreased their price objective on shares of Bloom Energy from $32.00 to $27.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Redburn Atlantic cut shares of Bloom Energy from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $14.50 to $10.00 in a research report on Wednesday, April 9th. Roth Mkm reduced their target price on shares of Bloom Energy from $26.00 to $20.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Finally, Jefferies Financial Group decreased their price target on shares of Bloom Energy from $25.00 to $19.00 and set a "hold" rating on the stock in a research note on Wednesday, April 16th. 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.com, the company has an average rating of "Moderate Buy" and a consensus price target of $22.97.

Insider Buying and Selling

In related news, insider Shawn Marie Soderberg sold 2,780 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $19.72, for a total transaction of $54,821.60. Following the sale, the insider now owns 152,890 shares of the company's stock, valued at approximately $3,014,990.80. This trade represents a 1.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kr Sridhar sold 42,383 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were 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 now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,375 shares of company stock valued at $1,053,445 in the last 90 days. 3.60% of the stock is owned by insiders.

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.

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