Mirae Asset Global Investments Co. Ltd. Sells 140,421 Shares of Bloom Energy Corporation (NYSE:BE)

Mirae Asset Global Investments Co. Ltd. decreased its stake in Bloom Energy Corporation (NYSE:BE - Free Report) by 34.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 263,783 shares of the company's stock after selling 140,421 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.11% of Bloom Energy worth $5,363,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Sender Co & Partners Inc. acquired a new stake in Bloom Energy in the fourth quarter valued at $283,000. Select Equity Group L.P. increased its stake in shares of Bloom Energy by 125.5% in the fourth quarter. Select Equity Group L.P. now owns 278,515 shares of the company's stock valued at $6,186,000 after buying an additional 154,993 shares during the period. SIR Capital Management L.P. raised its position in shares of Bloom Energy by 155.1% during the fourth quarter. SIR Capital Management L.P. now owns 572,798 shares of the company's stock worth $12,722,000 after acquiring an additional 348,279 shares during the last quarter. SPX Gestao de Recursos Ltda bought a new position in shares of Bloom Energy during the fourth quarter worth about $4,442,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Bloom Energy in the fourth quarter worth approximately $19,629,000. Institutional investors own 77.04% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BE shares. Royal Bank Of Canada set a $26.00 target price on shares of Bloom Energy in a report on Monday, April 14th. UBS Group reissued a "buy" rating on shares of Bloom Energy in a research note on Wednesday. Roth Mkm decreased their target price on Bloom Energy from $26.00 to $20.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Jefferies Financial Group lowered their target price on Bloom Energy from $25.00 to $19.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. Finally, HSBC upgraded Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 price target on the stock in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $22.97.

Bloom Energy Stock Performance

Shares of BE traded up $1.51 during mid-day trading on Thursday, hitting $24.07. The stock had a trading volume of 2,636,281 shares, compared to its average volume of 6,250,579. Bloom Energy Corporation has a 52 week low of $9.02 and a 52 week high of $29.83. The company has a debt-to-equity ratio of 2.07, a current ratio of 3.44 and a quick ratio of 2.39. The business has a fifty day moving average price of $20.00 and a 200-day moving average price of $21.74. The firm has a market cap of $5.59 billion, a P/E ratio of -481.30 and a beta of 3.22.

Bloom Energy (NYSE:BE - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, topping analysts' consensus estimates of ($0.07) by $0.10. Bloom Energy had a return on equity of 2.51% and a net margin of 0.29%. The firm had revenue of $326.02 million during the quarter, compared to analyst estimates of $294.27 million. During the same period last year, the company earned ($0.17) earnings per share. The business's revenue for the quarter was up 38.5% on a year-over-year basis. On average, equities research analysts expect that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insider Buying and Selling

In other Bloom Energy news, insider Aman Joshi sold 4,658 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total value of $91,855.76. Following the sale, the insider directly owned 131,371 shares in the company, valued at $2,590,636.12. This represents a 3.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Maciej Kurzymski sold 8,733 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $22.79, for a total value of $199,025.07. Following the completion of the sale, the insider owned 109,860 shares in the company, valued at $2,503,709.40. This trade represents a 7.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,501 shares of company stock valued at $1,236,191 in the last three months. Insiders own 3.60% of the company's stock.

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.