Lazard Asset Management LLC Decreases Stock Position in Bloom Energy Co. (NYSE:BE)

Lazard Asset Management LLC reduced its stake in shares of Bloom Energy Co. (NYSE:BE - Free Report) by 100.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,500 shares of the company's stock after selling 18,724,063 shares during the period. Lazard Asset Management LLC's holdings in Bloom Energy were worth $99,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its position in shares of Bloom Energy by 291.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock valued at $28,000 after buying an additional 934 shares in the last quarter. Mainstream Capital Management LLC purchased a new position in Bloom Energy in the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp lifted its holdings 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. Quarry LP purchased a new stake in shares of Bloom Energy during the 4th quarter worth approximately $35,000. Finally, Avior Wealth Management LLC purchased a new stake in shares of Bloom Energy during the 4th quarter worth approximately $40,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BE. TD Cowen upped their price objective on Bloom Energy from $13.00 to $20.00 and gave the stock a "hold" rating in a report on Friday, February 28th. Hsbc Global Res raised Bloom Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Mizuho upgraded Bloom Energy from a "neutral" rating to an "outperform" rating and lowered their target price for the stock from $28.00 to $26.00 in a report on Monday, May 5th. Royal Bank of Canada set a $26.00 price objective on Bloom Energy in a research report on Monday, April 14th. Finally, BMO Capital Markets reaffirmed a "market perform" rating on shares of Bloom Energy in a research report on Friday, February 28th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.97.

Insider Buying and Selling

In other Bloom Energy news, CEO Kr Sridhar sold 42,383 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,496 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $19.89, for a total value of $29,755.44. Following the completion of the sale, the insider now directly owns 229,682 shares in the company, valued at approximately $4,568,374.98. The trade was a 0.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,375 shares of company stock valued at $1,053,445 over the last ninety days. Company insiders own 3.60% of the company's stock.

Bloom Energy Stock Performance

Shares of BE stock traded up $0.30 during mid-day trading on Tuesday, reaching $19.78. The stock had a trading volume of 4,048,131 shares, compared to its average volume of 6,610,706. The business's fifty day moving average is $18.82 and its 200-day moving average is $22.12. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of -35.32 and a beta of 3.25. Bloom Energy Co. has a 1-year low of $9.02 and a 1-year high of $29.83.

Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.10. The business 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 revenue was up 38.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.17) earnings per share. On average, research analysts forecast that Bloom Energy Co. 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.