Bloom Energy Co. (NYSE:BE) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP grew its stake in shares of Bloom Energy Co. (NYSE:BE - Free Report) by 306.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,383,897 shares of the company's stock after purchasing an additional 1,043,326 shares during the period. Wellington Management Group LLP owned approximately 0.60% of Bloom Energy worth $30,736,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. 111 Capital purchased a new stake in shares of Bloom Energy in the 4th quarter worth about $278,000. Mackenzie Financial Corp boosted its position in shares of Bloom Energy by 1.7% in the 4th quarter. Mackenzie Financial Corp now owns 63,372 shares of the company's stock worth $1,407,000 after buying an additional 1,035 shares in the last quarter. DigitalBridge Group Inc. boosted its position in shares of Bloom Energy by 5.7% in the 4th quarter. DigitalBridge Group Inc. now owns 1,418,257 shares of the company's stock worth $31,499,000 after buying an additional 75,974 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Bloom Energy in the 4th quarter worth about $3,834,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Bloom Energy in the 4th quarter worth about $49,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Satish Chitoori sold 1,020 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the sale, the insider now directly owns 178,656 shares of the company's stock, valued at approximately $4,482,479.04. This represents a 0.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,496 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $19.89, for a total value of $29,755.44. Following the sale, the insider now directly owns 229,682 shares in the company, valued at approximately $4,568,374.98. This represents a 0.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,375 shares of company stock worth $1,053,445 in the last 90 days. 3.60% of the stock is owned by company insiders.

Bloom Energy Stock Up 11.6%

NYSE BE traded up $2.12 on Tuesday, reaching $20.40. The company had a trading volume of 7,366,731 shares, compared to its average volume of 6,498,474. The firm has a market capitalization of $4.74 billion, a PE ratio of -36.43 and a beta of 3.25. Bloom Energy Co. has a 1 year low of $9.02 and a 1 year high of $29.83. The firm has a 50-day moving average of $18.37 and a 200-day moving average of $22.25. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.

Bloom Energy (NYSE:BE - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.10. The firm had revenue of $326.02 million during the quarter, compared to analysts' expectations of $294.27 million. Bloom Energy had a negative return on equity of 20.32% and a negative net margin of 10.29%. Bloom Energy's quarterly revenue was up 38.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.17) EPS. On average, equities research analysts anticipate that Bloom Energy Co. will post -0.23 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on BE shares. 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 research report on Tuesday, April 15th. Susquehanna cut their target price on shares of Bloom Energy from $33.00 to $26.00 and set a "positive" rating for the company in a research note on Monday, April 14th. 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 cut their target price on shares of Bloom Energy from $35.00 to $30.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Finally, Redburn Atlantic downgraded shares of Bloom Energy from a "neutral" rating to a "sell" rating and cut their target price for the company from $14.50 to $10.00 in a research note on Wednesday, April 9th. Two 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 MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target 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.