Point72 Asset Management L.P. Acquires Shares of 939,724 Bloom Energy Co. (NYSE:BE)

Point72 Asset Management L.P. purchased a new position in shares of Bloom Energy Co. (NYSE:BE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 939,724 shares of the company's stock, valued at approximately $20,871,000. Point72 Asset Management L.P. owned about 0.41% of Bloom Energy at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Arizona State Retirement System increased its position in Bloom Energy by 1.3% during the 4th quarter. Arizona State Retirement System now owns 59,592 shares of the company's stock worth $1,324,000 after purchasing an additional 759 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of Bloom Energy by 120.5% in the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock valued at $33,000 after buying an additional 812 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock worth $28,000 after acquiring an additional 934 shares during the period. Mainstream Capital Management LLC purchased a new position in Bloom Energy in the fourth quarter worth $28,000. Finally, Quarry LP acquired a new stake in Bloom Energy in the fourth quarter valued at $35,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Bloom Energy Trading Down 4.6%

Shares of NYSE:BE traded down $0.87 during trading on Wednesday, reaching $18.24. The stock had a trading volume of 3,478,275 shares, compared to its average volume of 6,673,878. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The stock has a market cap of $4.24 billion, a P/E ratio of -32.57 and a beta of 3.25. The business has a fifty day moving average price of $19.12 and a 200-day moving average price of $21.81. Bloom Energy Co. has a fifty-two week low of $9.02 and a fifty-two week high of $29.83.

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 negative return on equity of 20.32% and a negative net margin of 10.29%. The business had revenue of $326.02 million for the quarter, compared to analysts' expectations of $294.27 million. During the same quarter last year, the firm earned ($0.17) earnings per share. The business's revenue was up 38.5% on a year-over-year basis. As a group, analysts anticipate that Bloom Energy Co. will post -0.23 earnings per share for the current fiscal year.

Insider Activity at Bloom Energy

In related news, insider Satish Chitoori sold 2,038 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $19.73, for a total value of $40,209.74. Following the completion of the sale, the insider now directly owns 176,618 shares in the company, valued at approximately $3,484,673.14. This represents a 1.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shawn Marie Soderberg sold 1,496 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $19.89, for a total value of $29,755.44. Following the completion of the transaction, the insider now directly owns 229,682 shares in the company, valued at $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. Over the last three months, insiders sold 54,375 shares of company stock worth $1,053,445. 3.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BE. Jefferies Financial Group lowered their price target 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. HSBC upgraded shares of Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 target price on the stock in a research report on Tuesday, April 8th. Mizuho upgraded shares of Bloom Energy from a "neutral" rating to an "outperform" rating and reduced their price target for the company from $28.00 to $26.00 in a research report on Monday, May 5th. Susquehanna decreased their price target on Bloom Energy from $33.00 to $26.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Finally, Royal Bank of Canada set a $26.00 price objective on Bloom Energy in a research note on Monday, April 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Bloom Energy presently has an average rating of "Moderate Buy" and a consensus target price of $22.97.

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.