Man Group plc Has $11.78 Million Position in Bloom Energy Co. (NYSE:BE)

Man Group plc reduced its position in shares of Bloom Energy Co. (NYSE:BE - Free Report) by 79.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 530,323 shares of the company's stock after selling 2,009,677 shares during the quarter. Man Group plc owned about 0.23% of Bloom Energy worth $11,778,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BE. Norges Bank acquired a new position in Bloom Energy in the fourth quarter worth approximately $93,951,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Bloom Energy in the 4th quarter worth $61,968,000. Elemental Capital Partners LLC acquired a new stake in shares of Bloom Energy during the fourth quarter worth $33,612,000. Trivest Advisors Ltd acquired a new stake in shares of Bloom Energy during the fourth quarter worth $30,539,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Bloom Energy by 306.3% during the fourth quarter. Wellington Management Group LLP now owns 1,383,897 shares of the company's stock valued at $30,736,000 after purchasing an additional 1,043,326 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BE shares. JPMorgan Chase & Co. lifted their price target on Bloom Energy from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. Mizuho upgraded shares of Bloom Energy from a "neutral" rating to an "outperform" rating and decreased their target price for the stock from $28.00 to $26.00 in a report on Monday, May 5th. Bank of America reduced their price target on shares of Bloom Energy from $20.00 to $18.00 and set an "underperform" rating for the company in a research report on Tuesday, January 28th. Robert W. Baird lowered their price objective on shares of Bloom Energy from $32.00 to $27.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Finally, Jefferies Financial Group cut their target price 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 issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $22.97.

Insider Buying and Selling at Bloom Energy

In related news, insider Satish Chitoori sold 1,020 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the completion of the sale, the insider now directly owns 178,656 shares of the company's stock, valued at approximately $4,482,479.04. This represents a 0.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kr Sridhar sold 42,383 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 2,724,613 shares in the company, valued at $52,149,092.82. This trade represents a 1.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,375 shares of company stock worth $1,053,445 over the last three months. Corporate insiders own 3.60% of the company's stock.

Bloom Energy Stock Up 0.9%

BE traded up $0.16 during midday trading on Thursday, hitting $18.37. 4,630,277 shares of the company's stock traded hands, compared to its average volume of 6,652,829. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The company has a market cap of $4.27 billion, a PE ratio of -32.80 and a beta of 3.25. The stock's fifty day simple moving average is $19.12 and its 200-day simple moving average is $21.81. Bloom Energy Co. has a one year low of $9.02 and a one year high of $29.83.

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, 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 for the quarter, compared to analyst estimates of $294.27 million. During the same quarter in the prior year, the business posted ($0.17) EPS. Bloom Energy's quarterly revenue was up 38.5% on a year-over-year basis. As a group, equities analysts anticipate that Bloom Energy Co. will post -0.23 earnings per share for the current fiscal year.

About Bloom Energy

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.