Bloom Energy Corporation (NYSE:BE) Stock Position Lowered by Penserra Capital Management LLC

Penserra Capital Management LLC decreased its holdings in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 20.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in BE. Arizona State Retirement System grew its position in Bloom Energy by 1.3% during the fourth quarter. Arizona State Retirement System now owns 59,592 shares of the company's stock valued at $1,324,000 after acquiring an additional 759 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Bloom Energy by 120.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock valued at $33,000 after purchasing an additional 812 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Bloom Energy by 291.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock worth $28,000 after purchasing an additional 934 shares during the period. Mackenzie Financial Corp increased its position in Bloom Energy by 1.7% during the 4th quarter. Mackenzie Financial Corp now owns 63,372 shares of the company's stock worth $1,407,000 after purchasing an additional 1,035 shares in the last quarter. Finally, Quarry LP acquired a new stake in Bloom Energy during the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 77.04% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Susquehanna decreased their price objective on shares of Bloom Energy from $33.00 to $26.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Mizuho raised shares of Bloom Energy from a "neutral" rating to an "outperform" rating and decreased their price target for the stock from $28.00 to $26.00 in a research report on Monday, May 5th. Royal Bank Of Canada set a $26.00 price objective on Bloom Energy in a research report on Monday, April 14th. JPMorgan Chase & Co. raised Bloom Energy from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $18.00 to $33.00 in a research report on Wednesday. Finally, Hsbc Global Res upgraded Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $23.97.

Bloom Energy Stock Down 1.6%

Bloom Energy stock traded down $0.41 during midday trading on Friday, hitting $25.44. The stock had a trading volume of 7,236,700 shares, compared to its average volume of 6,280,383. The business has a fifty day moving average price of $21.01 and a 200 day moving average price of $21.78. Bloom Energy Corporation has a 12 month low of $9.02 and a 12 month high of $29.83. The stock has a market cap of $5.91 billion, a P/E ratio of -508.70 and a beta of 3.22. 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 posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.10. Bloom Energy had a return on equity of 2.51% and a net margin of 0.29%. The business had revenue of $326.02 million for the quarter, compared to analyst estimates of $294.27 million. During the same period in the prior year, the company posted ($0.17) EPS. The business's revenue was up 38.5% compared to the same quarter last year. Research analysts predict that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,496 shares of Bloom Energy stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $19.89, for a total value of $29,755.44. Following the completion of the transaction, the insider directly owned 229,682 shares in the company, valued at $4,568,374.98. The trade was a 0.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction, the chief executive officer owned 2,724,613 shares of the company's stock, valued at $52,149,092.82. This represents a 1.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,501 shares of company stock worth $1,236,191. 3.60% of the stock is owned by company insiders.

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.