M.E. Allison & CO. Inc. Purchases 19,000 Shares of Bloom Energy Co. (NYSE:BE)

M.E. Allison & CO. Inc. raised its stake in Bloom Energy Co. (NYSE:BE - Free Report) by 59.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,030 shares of the company's stock after acquiring an additional 19,000 shares during the period. Bloom Energy makes up 1.0% of M.E. Allison & CO. Inc.'s portfolio, making the stock its 26th largest holding. M.E. Allison & CO. Inc.'s holdings in Bloom Energy were worth $1,003,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Bloom Energy by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company's stock worth $427,194,000 after buying an additional 356,317 shares during the last quarter. Norges Bank purchased a new stake in Bloom Energy in the 4th quarter valued at about $93,951,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Bloom Energy in the 4th quarter valued at about $61,968,000. Legal & General Group Plc raised its holdings in shares of Bloom Energy by 7.3% in the 4th quarter. Legal & General Group Plc now owns 2,133,318 shares of the company's stock valued at $47,381,000 after purchasing an additional 144,616 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Bloom Energy by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company's stock valued at $36,737,000 after purchasing an additional 10,265 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on BE. Redburn Atlantic lowered shares of Bloom Energy from a "neutral" rating to a "sell" rating and reduced their price objective for the stock from $14.50 to $10.00 in a research note on Wednesday, April 9th. Susquehanna cut their price target on shares of Bloom Energy from $33.00 to $26.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Roth Mkm dropped their price objective on shares of Bloom Energy from $26.00 to $20.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Robert W. Baird dropped 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. Finally, Jefferies Financial Group lowered their price target on shares of Bloom Energy from $25.00 to $19.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Bloom Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.97.

Insider Buying and Selling

In other Bloom Energy news, CEO Kr Sridhar sold 42,383 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $19.14, for a total transaction of $811,210.62. Following the completion of the transaction, the chief executive officer now owns 2,724,613 shares of the company's stock, valued at $52,149,092.82. This trade represents a 1.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Satish Chitoori sold 2,038 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $19.73, for a total transaction of $40,209.74. Following the completion of the transaction, the insider now directly owns 176,618 shares of the company's stock, valued at approximately $3,484,673.14. The trade was a 1.14% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,355 shares of company stock worth $1,027,853. Insiders own 3.60% of the company's stock.

Bloom Energy Price Performance

Shares of NYSE BE opened at $21.94 on Monday. The firm has a 50-day simple moving average of $18.73 and a 200-day simple moving average of $22.01. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of -39.18 and a beta of 3.20. 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 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 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $326.02 million during the quarter, compared to analysts' expectations of $294.27 million. During the same period in the prior year, the business earned ($0.17) earnings per share. The company's quarterly revenue was up 38.5% compared to the same quarter last year. On average, equities analysts predict that Bloom Energy Co. will post -0.23 earnings per share for the current fiscal 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.

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