Neo Ivy Capital Management Makes New $3.83 Million Investment in Bloom Energy Co. (NYSE:BE)

Neo Ivy Capital Management purchased a new stake in Bloom Energy Co. (NYSE:BE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 172,635 shares of the company's stock, valued at approximately $3,834,000. Bloom Energy makes up about 0.8% of Neo Ivy Capital Management's investment portfolio, making the stock its 22nd largest holding. Neo Ivy Capital Management owned 0.08% of Bloom Energy at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of BE. Mainstream Capital Management LLC purchased a new stake in Bloom Energy in the 4th quarter worth approximately $28,000. Smartleaf Asset Management LLC lifted its position in Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock worth $28,000 after buying an additional 934 shares during the period. Jones Financial Companies Lllp boosted its stake in Bloom Energy by 120.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock worth $33,000 after buying an additional 812 shares during the last quarter. Quarry LP acquired a new position in shares of Bloom Energy during the 4th quarter valued at about $35,000. Finally, Avior Wealth Management LLC purchased a new position in shares of Bloom Energy during the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 77.04% of the company's stock.

Bloom Energy Stock Down 2.4%

Shares of NYSE BE traded down $0.47 during midday trading on Wednesday, reaching $19.29. 924,917 shares of the company's stock were exchanged, compared to its average volume of 6,553,453. 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. The business's fifty day moving average price is $18.71 and its two-hundred day moving average price is $22.10. The stock has a market capitalization of $4.48 billion, a PE ratio of -34.45 and a beta of 3.25.

Bloom Energy (NYSE:BE - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.10. The company had revenue of $326.02 million during the quarter, compared to analysts' expectations of $294.27 million. Bloom Energy had a negative return on equity of 20.32% and a negative net margin of 10.29%. The business's revenue was up 38.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.17) EPS. Analysts forecast that Bloom Energy Co. will post -0.23 EPS for the current year.

Insider Activity

In related news, insider Satish Chitoori sold 1,020 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the transaction, the insider now directly owns 178,656 shares in the company, valued at $4,482,479.04. This trade represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shawn Marie Soderberg sold 2,780 shares of the stock in a transaction 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 sale, the insider now directly owns 152,890 shares in the company, valued at $3,014,990.80. This trade represents a 1.79% 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 corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Hsbc Global Res raised shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Jefferies Financial Group dropped their price target on Bloom Energy from $25.00 to $19.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th. Morgan Stanley cut their price objective on Bloom Energy from $35.00 to $30.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. 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 report on Wednesday, April 16th. Finally, Redburn Atlantic downgraded shares of Bloom Energy from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $14.50 to $10.00 in a research report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.97.

About Bloom Energy

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.