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

Lazard Asset Management LLC decreased its position in Bloom Energy Co. (NYSE:BE - Free Report) by 100.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Avior Wealth Management LLC bought a new stake in Bloom Energy during the 4th quarter valued at $40,000. SeaBridge Investment Advisors LLC bought a new stake in Bloom Energy during the 4th quarter valued at $251,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Bloom Energy by 184.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 404,204 shares of the company's stock valued at $9,209,000 after acquiring an additional 262,247 shares during the period. Elemental Capital Partners LLC bought a new stake in Bloom Energy during the 4th quarter valued at $33,612,000. Finally, Strategic Financial Concepts LLC bought a new stake in Bloom Energy during the 4th quarter valued at $495,000. Hedge funds and other institutional investors own 77.04% of the company's stock.

Bloom Energy Price Performance

NYSE:BE traded down $0.24 during midday trading on Thursday, hitting $19.35. The company had a trading volume of 1,029,032 shares, compared to its average volume of 6,514,091. Bloom Energy Co. has a 52-week low of $9.02 and a 52-week high of $29.83. The stock's fifty day moving average price is $18.62 and its 200-day moving average price is $22.08. The company has a market capitalization of $4.49 billion, a PE ratio of -34.55 and a beta of 3.25. 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 (NYSE:BE - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $294.27 million. During the same period in the previous year, the business earned ($0.17) earnings per share. The firm's quarterly revenue was up 38.5% compared to the same quarter last year. As a group, research analysts expect that Bloom Energy Co. will post -0.23 earnings per share for the current year.

Analysts Set New Price Targets

BE has been the topic of a number of analyst reports. Hsbc Global Res raised shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. HSBC raised shares of Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 target price on the stock in a report on Tuesday, April 8th. Redburn Atlantic cut shares of Bloom Energy from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $14.50 to $10.00 in a report on Wednesday, April 9th. Mizuho raised shares of Bloom Energy from a "neutral" rating to an "outperform" rating and decreased their price target for the stock from $28.00 to $26.00 in a report on Monday, May 5th. Finally, Robert W. Baird decreased their price target 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. Two equities research 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $22.97.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 2,780 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total transaction of $54,821.60. Following the completion of the sale, the insider now directly owns 152,890 shares in the company, valued at $3,014,990.80. This represents a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Satish Chitoori sold 1,020 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the sale, the insider now owns 178,656 shares of the company's stock, valued at approximately $4,482,479.04. The trade was a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,375 shares of company stock worth $1,053,445 over the last three months. Company insiders own 3.60% of the company's stock.

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.