Penserra Capital Management LLC Has $1.24 Million Holdings in Bloom Energy Corporation (NYSE:BE)

Penserra Capital Management LLC reduced its holdings in Bloom Energy Corporation (NYSE:BE - Free Report) by 20.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 63,315 shares of the company's stock after selling 16,453 shares during the quarter. Penserra Capital Management LLC's holdings in Bloom Energy were worth $1,244,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Bloom Energy by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company's stock worth $427,194,000 after acquiring an additional 356,317 shares during the period. Norges Bank acquired a new stake in shares of Bloom Energy in the fourth quarter valued at approximately $93,951,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Bloom Energy in the fourth quarter valued at approximately $61,968,000. Legal & General Group Plc raised its holdings in shares of Bloom Energy by 7.3% during the fourth quarter. Legal & General Group Plc now owns 2,133,318 shares of the company's stock valued at $47,381,000 after buying an additional 144,616 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Bloom Energy by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company's stock worth $36,737,000 after buying an additional 10,265 shares in the last quarter. Institutional investors and hedge funds own 77.04% of the company's stock.

Bloom Energy Stock Up 17.9%

BE traded up $4.35 on Wednesday, reaching $28.65. 21,913,330 shares of the company traded hands, compared to its average volume of 6,380,973. The company has a market cap of $6.65 billion, a price-to-earnings ratio of -572.89 and a beta of 3.22. The company has a debt-to-equity ratio of 2.07, a current ratio of 3.44 and a quick ratio of 2.39. The stock's 50 day moving average price is $20.44 and its 200-day moving average price is $21.73. Bloom Energy Corporation has a 52-week low of $9.02 and a 52-week high of $29.83.

Bloom Energy (NYSE:BE - Get Free Report) last posted its quarterly 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. Bloom Energy had a net margin of 0.29% and a return on equity of 2.51%. The business had revenue of $326.02 million for the quarter, compared to analysts' expectations of $294.27 million. During the same period in the previous year, the company posted ($0.17) EPS. Bloom Energy's revenue was up 38.5% on a year-over-year basis. On average, sell-side analysts expect that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BE shares. Piper Sandler dropped their target price on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Morgan Stanley dropped their price objective on Bloom Energy from $35.00 to $30.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Truist Financial decreased their target price on Bloom Energy from $22.00 to $19.00 and set a "hold" rating for the company in a research note on Monday, April 21st. Robert W. Baird lowered their target price on Bloom Energy from $32.00 to $27.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, Jefferies Financial Group reduced their price objective on shares of Bloom Energy from $25.00 to $19.00 and set a "hold" rating for the company in a research report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $23.97.

Insider Activity at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 42,383 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 2,724,613 shares of the company's stock, valued at $52,149,092.82. The trade was a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 transaction, the insider owned 176,618 shares in the company, valued at $3,484,673.14. This represents a 1.14% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,501 shares of company stock worth $1,236,191. 3.50% of the stock is currently owned by corporate insiders.

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.