Man Group plc Sells 2,009,677 Shares of Bloom Energy Co. (NYSE:BE)

Man Group plc decreased its position in shares of Bloom Energy Co. (NYSE:BE - Free Report) by 79.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 530,323 shares of the company's stock after selling 2,009,677 shares during the period. Man Group plc owned 0.23% of Bloom Energy worth $11,778,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its position in shares of Bloom Energy by 291.0% during the fourth 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 during the last quarter. Mainstream Capital Management LLC bought a new stake in shares of Bloom Energy during the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp raised its position in shares of Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock valued at $33,000 after buying an additional 812 shares during the last quarter. Quarry LP bought a new stake in shares of Bloom Energy during the fourth quarter valued at approximately $35,000. Finally, Avior Wealth Management LLC bought a new stake in shares of Bloom Energy during the fourth quarter valued at approximately $40,000. Institutional investors own 77.04% of the company's stock.

Bloom Energy Trading Up 6.2%

NYSE BE traded up $1.13 on Friday, hitting $19.50. 5,067,047 shares of the stock were exchanged, compared to its average volume of 6,636,837. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The stock has a fifty day moving average price of $18.92 and a two-hundred day moving average price of $21.99. The firm has a market capitalization of $4.53 billion, a P/E ratio of -34.82 and a beta of 3.25. Bloom Energy Co. has a 52-week low of $9.02 and a 52-week high of $29.83.

Bloom Energy (NYSE:BE - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.10. The firm had revenue of $326.02 million during the quarter, compared to analyst estimates of $294.27 million. Bloom Energy had a negative net margin of 10.29% and a negative return on equity of 20.32%. The business's revenue was up 38.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.17) earnings per share. Research analysts forecast that Bloom Energy Co. will post -0.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BE has been the subject of a number of recent research reports. TD Cowen raised their target price on shares of Bloom Energy from $13.00 to $20.00 and gave the company a "hold" rating in a report on Friday, February 28th. Jefferies Financial Group cut their target price on shares of Bloom Energy from $25.00 to $19.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. BMO Capital Markets reissued a "market perform" rating on shares of Bloom Energy in a report on Friday, February 28th. Hsbc Global Res raised shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Finally, Redburn Atlantic lowered shares of Bloom Energy from a "neutral" rating to a "sell" rating and cut their target price for the company from $14.50 to $10.00 in a report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $22.97.

Insider Activity

In other news, insider Shawn Marie Soderberg sold 2,780 shares of the business's stock in a transaction on 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 of the company's stock, valued at approximately $3,014,990.80. The trade was a 1.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the sale, the insider now owns 178,656 shares of the company's stock, valued at $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. Over the last ninety days, insiders sold 54,375 shares of company stock valued at $1,053,445. 3.60% of the stock is currently owned by company 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.