MRA Advisory Group Takes Position in Bloom Energy Co. (NYSE:BE)

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

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Bloom Energy in the fourth quarter worth approximately $93,951,000. Fuller & Thaler Asset Management Inc. purchased a new stake in Bloom Energy in the fourth quarter worth $61,968,000. Elemental Capital Partners LLC purchased a new stake in Bloom Energy in the fourth quarter worth $33,612,000. Trivest Advisors Ltd purchased a new position in Bloom Energy in the 4th quarter worth about $30,539,000. Finally, Voloridge Investment Management LLC increased its stake in Bloom Energy by 323.6% in the 4th quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company's stock worth $31,992,000 after buying an additional 1,100,352 shares during the period. 77.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Bloom Energy news, 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 transaction of $811,210.62. Following the sale, the chief executive officer now owns 2,724,613 shares of the company's stock, valued at $52,149,092.82. The trade was a 1.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Satish Chitoori sold 1,020 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $25.09, for a total value of $25,591.80. Following the transaction, the insider now owns 178,656 shares in the company, valued at approximately $4,482,479.04. This represents a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,375 shares of company stock valued at $1,053,445 over the last ninety days. 3.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

BE has been the topic of several recent analyst reports. Robert W. Baird reduced their price target on shares of Bloom Energy from $32.00 to $27.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Royal Bank of Canada set a $26.00 target price on shares of Bloom Energy in a research report on Monday, April 14th. Truist Financial reduced their price objective on Bloom Energy from $22.00 to $19.00 and set a "hold" rating on the stock in a report on Monday, April 21st. Piper Sandler cut their price target on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Finally, TD Cowen raised their price target on Bloom Energy from $13.00 to $20.00 and gave the company a "hold" rating in a research note on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $22.97.

Bloom Energy Stock Performance

Shares of BE stock opened at $20.50 on Friday. The business's fifty day simple moving average is $18.35 and its 200-day simple moving average is $22.21. The company has a market cap of $4.76 billion, a PE ratio of -36.61 and a beta of 3.25. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. Bloom Energy Co. has a 12-month low of $9.02 and a 12-month high of $29.83.

Bloom Energy (NYSE:BE - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.10. The company had revenue of $326.02 million for the quarter, compared to analyst estimates of $294.27 million. Bloom Energy had a negative return on equity of 20.32% and a negative net margin of 10.29%. The firm's quarterly revenue was up 38.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.17) EPS. Analysts expect 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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