Neo Ivy Capital Management Acquires New Shares in Bloom Energy Co. (NYSE:BE)

Neo Ivy Capital Management purchased a new position in shares of Bloom Energy Co. (NYSE:BE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 172,635 shares of the company's stock, valued at approximately $3,834,000. Bloom Energy comprises 0.8% of Neo Ivy Capital Management's investment portfolio, making the stock its 22nd biggest holding. Neo Ivy Capital Management owned about 0.08% of Bloom Energy as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Wesbanco Bank Inc. lifted its stake in Bloom Energy by 3.9% during the 4th quarter. Wesbanco Bank Inc. now owns 107,000 shares of the company's stock valued at $2,376,000 after acquiring an additional 4,000 shares in the last quarter. Avior Wealth Management LLC bought a new stake in Bloom Energy in the 4th quarter valued at about $40,000. SeaBridge Investment Advisors LLC bought a new stake in Bloom Energy in the 4th quarter valued at about $251,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Bloom Energy by 184.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 404,204 shares of the company's stock valued at $9,209,000 after buying an additional 262,247 shares during the period. Finally, Elemental Capital Partners LLC bought a new stake in shares of Bloom Energy during the fourth quarter valued at about $33,612,000. Institutional investors own 77.04% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on BE shares. Hsbc Global Res raised Bloom Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Redburn Atlantic downgraded Bloom Energy from a "neutral" rating to a "sell" rating and decreased their price objective for the stock from $14.50 to $10.00 in a report on Wednesday, April 9th. Piper Sandler reduced their price target on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Robert W. Baird reduced their price objective on Bloom Energy from $32.00 to $27.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Finally, Truist Financial reduced their price objective on Bloom Energy from $22.00 to $19.00 and set a "hold" rating for the company in a report on Monday, April 21st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $22.97.

Insider Activity

In other Bloom Energy news, insider Shawn Marie Soderberg sold 2,780 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was 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. This trade represents a 1.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Aman Joshi sold 4,658 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $19.72, for a total value of $91,855.76. Following the sale, the insider now directly owns 131,371 shares of the company's stock, valued at $2,590,636.12. The trade was a 3.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,375 shares of company stock worth $1,053,445. 3.60% of the stock is currently owned by insiders.

Bloom Energy Trading Up 1.5%

NYSE:BE traded up $0.30 on Tuesday, reaching $19.78. The company's stock had a trading volume of 4,047,596 shares, compared to its average volume of 6,610,700. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of -35.32 and a beta of 3.25. Bloom Energy Co. has a 12-month low of $9.02 and a 12-month high of $29.83. The stock has a 50 day moving average price of $18.82 and a 200 day moving average price of $22.12.

Bloom Energy (NYSE:BE - Get Free Report) last issued its quarterly earnings results 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 return on equity of 20.32% and a negative net margin of 10.29%. The company had revenue of $326.02 million for the quarter, compared to the consensus estimate of $294.27 million. During the same quarter in the prior year, the business earned ($0.17) EPS. Bloom Energy's revenue was up 38.5% on a year-over-year basis. On average, equities analysts anticipate that Bloom Energy Co. will post -0.23 EPS for the current fiscal year.

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.