MRA Advisory Group Purchases New Stake in Bloom Energy Co. (NYSE:BE)

MRA Advisory Group purchased a new stake in shares of Bloom Energy Co. (NYSE:BE - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 19,019 shares of the company's stock, valued at approximately $374,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System grew its holdings in Bloom Energy by 1.3% during the fourth quarter. Arizona State Retirement System now owns 59,592 shares of the company's stock worth $1,324,000 after buying an additional 759 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Bloom Energy by 120.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock worth $33,000 after purchasing an additional 812 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Bloom Energy by 291.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock worth $28,000 after purchasing an additional 934 shares in the last quarter. Mackenzie Financial Corp increased its stake in Bloom Energy by 1.7% in the 4th quarter. Mackenzie Financial Corp now owns 63,372 shares of the company's stock worth $1,407,000 after acquiring an additional 1,035 shares during the last quarter. Finally, Mainstream Capital Management LLC bought a new stake in Bloom Energy in the 4th quarter worth approximately $28,000. 77.04% of the stock is owned by institutional investors.

Insider Buying and Selling at Bloom Energy

In other news, insider Satish Chitoori sold 1,020 shares of the business'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 transaction, the insider now owns 178,656 shares in the company, valued at approximately $4,482,479.04. The trade was a 0.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Kr Sridhar sold 42,383 shares of Bloom Energy stock in a transaction 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 transaction, the chief executive officer now directly owns 2,724,613 shares of the company's stock, valued at approximately $52,149,092.82. The trade was a 1.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,375 shares of company stock valued at $1,053,445 in the last three months. 3.60% of the stock is currently owned by company insiders.

Bloom Energy Stock Down 1.7%

Bloom Energy stock traded down $0.38 during trading on Monday, reaching $21.40. 3,596,600 shares of the company's stock were exchanged, compared to its average volume of 6,449,737. The firm has a market cap of $4.97 billion, a price-to-earnings ratio of -38.21 and a beta of 3.20. The company's 50-day moving average is $18.37 and its two-hundred day moving average is $22.14. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. 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 released its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share 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 firm 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 earned ($0.17) earnings per share. Bloom Energy's quarterly revenue was up 38.5% on a year-over-year basis. On average, analysts predict that Bloom Energy Co. will post -0.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. HSBC upgraded Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 price objective for the company in a report on Tuesday, April 8th. Piper Sandler dropped their target price on shares of Bloom Energy from $31.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Redburn Atlantic downgraded Bloom Energy from a "neutral" rating to a "sell" rating and lowered their target price for the company from $14.50 to $10.00 in a research report on Wednesday, April 9th. Morgan Stanley lowered their price target on Bloom Energy from $35.00 to $30.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Finally, Mizuho raised shares of Bloom Energy from a "neutral" rating to an "outperform" rating and decreased their price target for the company from $28.00 to $26.00 in a research note on Monday, May 5th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $22.97.

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.