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

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

Several other hedge funds have also recently added to or reduced their stakes in the business. Mainstream Capital Management LLC acquired a new stake in shares of Bloom Energy in the 4th quarter valued at $28,000. Smartleaf Asset Management LLC lifted its holdings in Bloom Energy by 291.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock valued at $28,000 after purchasing an additional 934 shares during the last quarter. Jones Financial Companies Lllp boosted its position in 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. Quarry LP bought a new stake in Bloom Energy during the fourth quarter worth about $35,000. Finally, Avior Wealth Management LLC acquired a new stake in shares of Bloom Energy during the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 77.04% of the company's stock.

Bloom Energy Trading Up 4.1%

NYSE:BE traded up $0.75 during mid-day trading on Friday, hitting $19.12. The company had a trading volume of 1,565,046 shares, compared to its average volume of 6,598,509. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. Bloom Energy Co. has a fifty-two week low of $9.02 and a fifty-two week high of $29.83. The firm has a market cap of $4.44 billion, a P/E ratio of -34.14 and a beta of 3.25. The business's fifty day moving average is $19.01 and its two-hundred day moving average is $21.86.

Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $326.02 million during the quarter, compared to analysts' expectations of $294.27 million. During the same period in the prior year, the business posted ($0.17) EPS. Bloom Energy's revenue was up 38.5% on a year-over-year basis. As a group, research analysts expect that Bloom Energy Co. will post -0.23 earnings per share for the current year.

Insiders Place Their Bets

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,496 shares of the stock in a transaction dated 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 sale, the insider now directly owns 229,682 shares in the company, valued at $4,568,374.98. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kr Sridhar sold 42,383 shares of Bloom Energy stock in a transaction dated 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 now owns 2,724,613 shares in the company, valued at $52,149,092.82. This trade represents a 1.53% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,375 shares of company stock worth $1,053,445. Company insiders own 3.60% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Truist Financial reduced their target price on Bloom Energy from $22.00 to $19.00 and set a "hold" rating on the stock in a report on Monday, April 21st. TD Cowen increased their target price on Bloom Energy from $13.00 to $20.00 and gave the stock a "hold" rating in a report on Friday, February 28th. JPMorgan Chase & Co. raised their target price on Bloom Energy from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Bank of America reduced their price target on shares of Bloom Energy from $20.00 to $18.00 and set an "underperform" rating on the stock in a research report on Tuesday, January 28th. Finally, Robert W. Baird decreased their price objective on shares of Bloom Energy from $32.00 to $27.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Bloom Energy currently has an average rating of "Moderate Buy" and an average target price of $22.97.

Bloom Energy 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.