Tairen Capital Ltd Acquires New Position in Bloom Energy Co. (NYSE:BE)

Tairen Capital Ltd purchased a new stake in shares of Bloom Energy Co. (NYSE:BE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 18,100 shares of the company's stock, valued at approximately $402,000.

A number of other hedge funds have also bought and sold shares of BE. Tidal Investments LLC boosted its holdings in shares of Bloom Energy by 5.1% in the 4th quarter. Tidal Investments LLC now owns 120,147 shares of the company's stock valued at $2,668,000 after acquiring an additional 5,858 shares during the last quarter. Teza Capital Management LLC purchased a new stake in shares of Bloom Energy in the 4th quarter valued at $216,000. Select Equity Group L.P. boosted its holdings in shares of Bloom Energy by 125.5% in the 4th quarter. Select Equity Group L.P. now owns 278,515 shares of the company's stock valued at $6,186,000 after acquiring an additional 154,993 shares during the last quarter. Sender Co & Partners Inc. purchased a new stake in shares of Bloom Energy in the 4th quarter valued at $283,000. Finally, SIR Capital Management L.P. boosted its holdings in shares of Bloom Energy by 155.1% in the 4th quarter. SIR Capital Management L.P. now owns 572,798 shares of the company's stock valued at $12,722,000 after acquiring an additional 348,279 shares during the last quarter. Institutional investors and hedge funds own 77.04% of the company's stock.

Bloom Energy Trading Up 6.2%

Bloom Energy stock traded up $1.13 during midday trading on Friday, hitting $19.50. 5,067,047 shares of the stock were exchanged, compared to its average volume of 6,636,837. Bloom Energy Co. has a fifty-two week low of $9.02 and a fifty-two week high of $29.83. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of -34.82 and a beta of 3.25. The stock's 50-day simple moving average is $18.92 and its 200 day simple moving average is $21.92. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09.

Bloom Energy (NYSE:BE - Get Free Report) last released 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 net margin of 10.29% and a negative return on equity of 20.32%. The firm had revenue of $326.02 million during the quarter, compared to analysts' expectations of $294.27 million. During the same period last year, the business earned ($0.17) earnings per share. Bloom Energy's revenue was up 38.5% compared to the same quarter last year. On average, equities analysts anticipate that Bloom Energy Co. will post -0.23 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. HSBC raised shares of 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. BMO Capital Markets reissued a "market perform" rating on shares of Bloom Energy in a report on Friday, February 28th. 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 report on Wednesday, April 16th. Royal Bank of Canada set a $26.00 price target on shares of Bloom Energy in a report on Monday, April 14th. Finally, Bank of America lowered their price target on shares of Bloom Energy from $20.00 to $18.00 and set an "underperform" rating on the stock in a report on Tuesday, January 28th. 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $22.97.

Insider Buying and Selling

In other Bloom Energy news, CEO Kr Sridhar sold 42,383 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $19.14, for a total transaction of $811,210.62. Following the completion of the transaction, the chief executive officer now owns 2,724,613 shares of the company's stock, valued at $52,149,092.82. This trade represents a 1.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Satish Chitoori sold 1,020 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the transaction, the insider now directly owns 178,656 shares of the company's stock, valued at approximately $4,482,479.04. This trade represents a 0.57% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,375 shares of company stock worth $1,053,445. Insiders own 3.60% of the company's stock.

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.