Oppenheimer & Co. Inc. Sells 43,152 Shares of Bloom Energy Corporation (NYSE:BE)

Oppenheimer & Co. Inc. cut its stake in Bloom Energy Corporation (NYSE:BE - Free Report) by 58.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,097 shares of the company's stock after selling 43,152 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Bloom Energy were worth $611,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in BE. IFP Advisors Inc boosted its position in Bloom Energy by 130.2% in the fourth quarter. IFP Advisors Inc now owns 3,914 shares of the company's stock worth $87,000 after purchasing an additional 2,214 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Bloom Energy by 68.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,026,488 shares of the company's stock worth $22,798,000 after purchasing an additional 417,120 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of Bloom Energy in the fourth quarter worth approximately $637,000. Proficio Capital Partners LLC bought a new stake in Bloom Energy during the fourth quarter valued at approximately $787,000. Finally, Smartleaf Asset Management LLC grew 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 valued at $28,000 after buying an additional 934 shares during the period. 77.04% of the stock is owned by hedge funds and other institutional investors.

Bloom Energy Price Performance

Shares of NYSE:BE traded up $0.47 during midday trading on Wednesday, reaching $22.60. 5,429,349 shares of the company were exchanged, compared to its average volume of 4,886,438. The stock has a market cap of $5.25 billion, a PE ratio of -451.91 and a beta of 3.22. The business's fifty day moving average is $20.00 and its two-hundred day moving average is $21.74. Bloom Energy Corporation has a one year low of $9.02 and a one year high of $29.83. The company has a current ratio of 3.44, a quick ratio of 2.39 and a debt-to-equity ratio of 2.07.

Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.10. The business had revenue of $326.02 million for the quarter, compared to analysts' expectations of $294.27 million. Bloom Energy had a net margin of 0.29% and a return on equity of 2.51%. The business's quarterly revenue was up 38.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.17) EPS. As a group, analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Morgan Stanley dropped their price target on shares of Bloom Energy from $35.00 to $30.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. HSBC raised Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 target price on the stock in a report on Tuesday, April 8th. Royal Bank Of Canada set a $26.00 price target on Bloom Energy in a report on Monday, April 14th. Susquehanna reduced their price target on Bloom Energy from $33.00 to $26.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Finally, Hsbc Global Res raised Bloom Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Two equities 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.97.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Aman Joshi sold 4,658 shares of Bloom Energy 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 owned 131,371 shares of the company's stock, valued at $2,590,636.12. The trade was a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Satish Chitoori sold 2,038 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $19.73, for a total transaction of $40,209.74. Following the completion of the transaction, the insider directly owned 176,618 shares of the company's stock, valued at approximately $3,484,673.14. This trade represents a 1.14% decrease in their ownership of the stock. 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 90 days. 3.60% of the stock is currently owned by insiders.

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.