Tairen Capital Ltd Buys New Holdings in Bloom Energy Co. (NYSE:BE)

Tairen Capital Ltd acquired a new position in Bloom Energy Co. (NYSE:BE - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 18,100 shares of the company's stock, valued at approximately $402,000.

A number of other institutional investors have also made changes to their positions in the business. Smartleaf Asset Management LLC increased its stake in Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock valued at $28,000 after acquiring an additional 934 shares during the period. Mainstream Capital Management LLC acquired a new position in Bloom Energy during the 4th quarter worth $28,000. Jones Financial Companies Lllp lifted its holdings in Bloom Energy by 120.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock worth $33,000 after buying an additional 812 shares in the last quarter. Quarry LP acquired a new position in Bloom Energy during the 4th quarter worth $35,000. Finally, Avior Wealth Management LLC acquired a new position in Bloom Energy during the 4th quarter worth $40,000. 77.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BE has been the topic of several research reports. Bank of America reduced their price objective on Bloom Energy from $20.00 to $18.00 and set an "underperform" rating on the stock in a report on Tuesday, January 28th. HSBC raised Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 price objective on the stock in a report on Tuesday, April 8th. Redburn Atlantic downgraded Bloom Energy from a "neutral" rating to a "sell" rating and reduced their price objective for the stock from $14.50 to $10.00 in a report on Wednesday, April 9th. Roth Mkm dropped their target price on shares of Bloom Energy from $26.00 to $20.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Finally, Royal Bank of Canada set a $26.00 target price on shares of Bloom Energy in a research report on Monday, April 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $22.97.

Bloom Energy Trading Up 6.2%

Bloom Energy stock traded up $1.13 during mid-day trading on Friday, hitting $19.50. 5,067,047 shares of the company's stock were exchanged, compared to its average volume of 6,636,837. The firm has a market capitalization of $4.53 billion, a P/E ratio of -34.82 and a beta of 3.25. Bloom Energy Co. has a fifty-two week low of $9.02 and a fifty-two week high of $29.83. 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's 50 day simple moving average is $18.92 and its 200-day simple moving average is $21.99.

Bloom Energy (NYSE:BE - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.10. The business had revenue of $326.02 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted ($0.17) EPS. On average, equities analysts anticipate that Bloom Energy Co. will post -0.23 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Shawn Marie Soderberg sold 1,496 shares of the firm's 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 transaction, the insider now owns 229,682 shares in the company, valued at $4,568,374.98. This trade represents a 0.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Satish Chitoori sold 1,020 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the transaction, the insider now owns 178,656 shares of the company's stock, valued at $4,482,479.04. The trade was a 0.57% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,375 shares of company stock worth $1,053,445. Corporate insiders own 3.60% of the company's stock.

About Bloom Energy

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.