ProShare Advisors LLC Increases Stock Holdings in Bloom Energy Co. (NYSE:BE)

ProShare Advisors LLC lifted its position in shares of Bloom Energy Co. (NYSE:BE - Free Report) by 35.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,249 shares of the company's stock after buying an additional 15,969 shares during the quarter. ProShare Advisors LLC's holdings in Bloom Energy were worth $1,360,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. SPX Gestao de Recursos Ltda acquired a new position in Bloom Energy during the fourth quarter worth about $4,442,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Bloom Energy by 184.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 404,204 shares of the company's stock worth $9,209,000 after purchasing an additional 262,247 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Bloom Energy during the 4th quarter worth approximately $19,629,000. Charles Schwab Investment Management Inc. lifted its stake in Bloom Energy by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company's stock valued at $36,737,000 after buying an additional 10,265 shares in the last quarter. Finally, Bailard Inc. purchased a new stake in Bloom Energy in the 4th quarter valued at approximately $1,278,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. TD Cowen boosted their price target on Bloom Energy from $13.00 to $20.00 and gave the stock a "hold" rating in a report on Friday, February 28th. Hsbc Global Res raised shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Morgan Stanley decreased their price target on shares of Bloom Energy from $35.00 to $30.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. HSBC upgraded shares of Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 price target for the company in a report on Tuesday, April 8th. Finally, Piper Sandler reduced their price objective on shares of Bloom Energy from $31.00 to $26.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $22.97.

Bloom Energy Trading Down 4.6%

BE stock opened at $18.24 on Thursday. 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 company has a market cap of $4.24 billion, a price-to-earnings ratio of -32.57 and a beta of 3.25. The business has a fifty day simple moving average of $19.12 and a 200-day simple moving average of $21.81. Bloom Energy Co. has a 52 week low of $9.02 and a 52 week high of $29.83.

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, topping the consensus estimate of ($0.07) by $0.10. The company had revenue of $326.02 million during the quarter, compared to analyst estimates of $294.27 million. Bloom Energy had a negative return on equity of 20.32% and a negative net margin of 10.29%. The firm's revenue was up 38.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.17) earnings per share. On average, equities research analysts expect that Bloom Energy Co. will post -0.23 EPS for the current year.

Insider Activity at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,496 shares of the company's stock in a transaction on 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 sale, the insider now directly owns 229,682 shares of the company's stock, valued at approximately $4,568,374.98. This represents a 0.65% 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, CEO Kr Sridhar sold 42,383 shares of the firm's 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 completion of the transaction, the chief executive officer now directly owns 2,724,613 shares in the company, valued at $52,149,092.82. This trade represents a 1.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,375 shares of company stock worth $1,053,445. Company insiders own 3.60% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.