Penserra Capital Management LLC Sells 16,453 Shares of Bloom Energy Corporation (NYSE:BE)

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

Other hedge funds also recently made changes to their positions in the company. Sender Co & Partners Inc. purchased a new position in shares of Bloom Energy during the 4th quarter valued at approximately $283,000. Select Equity Group L.P. boosted its stake in shares of Bloom Energy by 125.5% during the 4th quarter. Select Equity Group L.P. now owns 278,515 shares of the company's stock valued at $6,186,000 after buying an additional 154,993 shares during the last quarter. SIR Capital Management L.P. raised its position in shares of Bloom Energy by 155.1% during the 4th quarter. SIR Capital Management L.P. now owns 572,798 shares of the company's stock valued at $12,722,000 after acquiring an additional 348,279 shares in the last quarter. SPX Gestao de Recursos Ltda acquired a new stake in shares of Bloom Energy during the 4th quarter valued at approximately $4,442,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Bloom Energy during the 4th quarter valued at approximately $19,629,000. Hedge funds and other institutional investors own 77.04% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Morgan Stanley dropped their price target on Bloom Energy from $35.00 to $30.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Mizuho raised Bloom Energy from a "neutral" rating to an "outperform" rating and dropped their target price for the stock from $28.00 to $26.00 in a research report on Monday, May 5th. 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 research report on Monday, May 5th. Redburn Atlantic lowered 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. Finally, Robert W. Baird dropped their target price on Bloom Energy from $32.00 to $27.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $23.97.

Bloom Energy Stock Down 10.2%

BE traded down $2.94 during midday trading on Thursday, hitting $25.77. 18,535,036 shares of the company's stock traded hands, compared to its average volume of 5,552,425. The company has a market cap of $5.98 billion, a PE ratio of -515.30 and a beta of 3.22. The stock's fifty day simple moving average is $20.83 and its 200-day simple moving average is $21.79. The company has a debt-to-equity ratio of 2.07, a current ratio of 3.44 and a quick ratio of 2.39. Bloom Energy Corporation has a one year low of $9.02 and a one year high of $29.83.

Bloom Energy (NYSE:BE - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.10. The firm had revenue of $326.02 million for the quarter, compared to analyst estimates of $294.27 million. Bloom Energy had a net margin of 0.29% and a return on equity of 2.51%. The company's revenue for the quarter was up 38.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.17) earnings per share. As a group, equities analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Kr Sridhar sold 42,383 shares of the company's 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 completion of the transaction, the chief executive officer directly owned 2,724,613 shares in the company, valued at $52,149,092.82. This represents a 1.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Shawn Marie Soderberg sold 2,780 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total transaction of $54,821.60. Following the transaction, the insider owned 152,890 shares of the company's stock, valued at approximately $3,014,990.80. The trade was a 1.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,501 shares of company stock valued at $1,236,191. 3.60% of the stock is 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.