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

Penserra Capital Management LLC cut its stake in Bloom Energy Corporation (NYSE:BE - Free Report) by 20.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BE. Norges Bank purchased a new position in Bloom Energy in the 4th quarter worth approximately $93,951,000. Fuller & Thaler Asset Management Inc. acquired a new stake in Bloom Energy in the 4th quarter valued at approximately $61,968,000. Trivest Advisors Ltd acquired a new stake in Bloom Energy in the 4th quarter valued at approximately $30,539,000. Voloridge Investment Management LLC increased its holdings in Bloom Energy by 323.6% in the 4th quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company's stock valued at $31,992,000 after purchasing an additional 1,100,352 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Bloom Energy by 306.3% in the 4th quarter. Wellington Management Group LLP now owns 1,383,897 shares of the company's stock valued at $30,736,000 after buying an additional 1,043,326 shares during the period. 77.04% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, insider Aman Joshi sold 4,658 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total value of $91,855.76. Following the transaction, the insider directly owned 131,371 shares in the company, valued at $2,590,636.12. The trade was a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shawn Marie Soderberg sold 1,496 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $19.89, for a total transaction of $29,755.44. Following the completion of the transaction, the insider owned 229,682 shares in the company, valued at approximately $4,568,374.98. This trade represents a 0.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,501 shares of company stock worth $1,236,191 in the last 90 days. 3.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Mizuho raised shares of Bloom Energy from a "neutral" rating to an "outperform" rating and decreased their price target for the company from $28.00 to $26.00 in a research report on Monday, May 5th. Robert W. Baird reduced their price target on shares of Bloom Energy from $32.00 to $27.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. HSBC upgraded shares of Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 price objective on the stock in a research note on Tuesday, April 8th. Jefferies Financial Group dropped their price objective on shares of Bloom Energy from $25.00 to $19.00 and set a "hold" rating on the stock in a research note on Wednesday, April 16th. Finally, Susquehanna dropped their price target on shares of Bloom Energy from $33.00 to $26.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Bloom Energy presently has an average rating of "Moderate Buy" and an average target price of $23.97.

Bloom Energy Stock Down 1.6%

Shares of BE stock traded down $0.41 on Friday, hitting $25.44. The company's stock had a trading volume of 7,218,373 shares, compared to its average volume of 6,481,253. The stock has a market capitalization of $5.91 billion, a price-to-earnings ratio of -508.70 and a beta of 3.22. Bloom Energy Corporation has a fifty-two week low of $9.02 and a fifty-two week high of $29.83. 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 firm's fifty day moving average price is $20.83 and its 200-day moving average price is $21.79.

Bloom Energy (NYSE:BE - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, topping 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 company had revenue of $326.02 million for the quarter, compared to the consensus estimate of $294.27 million. During the same quarter in the previous year, the firm posted ($0.17) EPS. The business's revenue was up 38.5% compared to the same quarter last year. Research analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current year.

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.