Bloom Energy Corporation (NYSE:BE) Shares Sold by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB reduced its stake in Bloom Energy by 23.9%, holding 103,661 shares worth approximately $2,038,000 at the end of the last quarter.
• Multiple analysts have revised their price targets for Bloom Energy, with UBS Group raising its target from $29.00 to $41.00 and upgrading the stock to a "buy" rating.
• In insider trading, Aman Joshi sold 4,658 shares of Bloom Energy for approximately $91,855, marking a 3.42% decrease in their ownership of the stock.

Skandinaviska Enskilda Banken AB publ lowered its position in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 23.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,661 shares of the company's stock after selling 32,559 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Bloom Energy were worth $2,038,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Bloom Energy in the fourth quarter worth $93,951,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Bloom Energy during the fourth quarter valued at $61,968,000. Voloridge Investment Management LLC boosted its stake in shares of Bloom Energy by 323.6% during the fourth 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 period. Wellington Management Group LLP boosted its stake in shares of Bloom Energy by 306.3% during the fourth quarter. Wellington Management Group LLP now owns 1,383,897 shares of the company's stock valued at $30,736,000 after purchasing an additional 1,043,326 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Bloom Energy during the fourth quarter valued at $20,871,000. Hedge funds and other institutional investors own 77.04% of the company's stock.

Insider Transactions at Bloom Energy

In related news, insider Maciej Kurzymski sold 8,733 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $22.79, for a total value of $199,025.07. Following the completion of the transaction, the insider directly owned 109,860 shares of the company's stock, valued at $2,503,709.40. This trade represents a 7.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shawn Marie Soderberg sold 2,780 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total transaction of $54,821.60. Following the completion of the transaction, the insider directly owned 152,890 shares of the company's stock, valued at $3,014,990.80. The trade was a 1.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,513 shares of company stock worth $1,261,765 over the last ninety days. 3.60% of the stock is currently owned by insiders.

Bloom Energy Stock Performance

Shares of Bloom Energy stock traded down $0.08 during midday trading on Friday, hitting $37.31. The company had a trading volume of 11,951,267 shares, compared to its average volume of 7,004,677. The stock has a market cap of $8.66 billion, a price-to-earnings ratio of -746.05 and a beta of 3.22. The company has a quick ratio of 2.39, a current ratio of 3.44 and a debt-to-equity ratio of 2.07. The company has a fifty day simple moving average of $23.80 and a 200 day simple moving average of $22.27. Bloom Energy Corporation has a 12-month low of $9.02 and a 12-month high of $39.09.

Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.02 by $0.08. The firm had revenue of $401.24 million during the quarter, compared to analyst estimates of $382.23 million. Bloom Energy had a net margin of 0.29% and a return on equity of 2.51%. Bloom Energy's revenue was up 19.5% on a year-over-year basis. During the same period last year, the firm posted ($0.06) EPS. As a group, analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BE has been the subject of a number of recent analyst reports. Morgan Stanley boosted their target price on shares of Bloom Energy from $35.00 to $44.00 and gave the company an "overweight" rating in a research note on Friday. JPMorgan Chase & Co. raised shares of Bloom Energy from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $18.00 to $33.00 in a research note on Wednesday, July 9th. HSBC raised shares of Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 price objective for the company in a research note on Tuesday, April 8th. Roth Mkm lowered their price objective on shares of Bloom Energy from $26.00 to $20.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Bloom Energy currently has a consensus rating of "Moderate Buy" and an average price target of $26.39.

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.