Hsbc Holdings PLC Cuts Position in Bloom Energy Co. (NYSE:BE)

Hsbc Holdings PLC lessened its stake in Bloom Energy Co. (NYSE:BE - Free Report) by 50.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 460,127 shares of the company's stock after selling 473,274 shares during the period. Hsbc Holdings PLC owned 0.20% of Bloom Energy worth $10,268,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC bought a new stake in shares of Bloom Energy in the fourth quarter valued at about $28,000. Smartleaf Asset Management LLC raised its holdings in shares of Bloom Energy by 291.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock valued at $28,000 after purchasing an additional 934 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock valued at $33,000 after purchasing an additional 812 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Bloom Energy during the third quarter valued at approximately $34,000. Finally, Avior Wealth Management LLC bought a new position in Bloom Energy in the fourth quarter worth approximately $40,000. Institutional investors own 77.04% of the company's stock.

Bloom Energy Stock Performance

NYSE BE traded down $0.31 on Friday, hitting $16.50. 9,809,057 shares of the company's stock traded hands, compared to its average volume of 6,826,882. The firm's 50-day moving average price is $20.48 and its two-hundred day moving average price is $21.12. The firm has a market capitalization of $3.80 billion, a PE ratio of -29.46 and a beta of 3.27. 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 Co. has a 1-year low of $9.02 and a 1-year high of $29.83.

Bloom Energy (NYSE:BE - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.10. The company had revenue of $326.02 million during the quarter, compared to the consensus estimate of $294.27 million. Bloom Energy had a negative net margin of 10.29% and a negative return on equity of 20.32%. The firm's quarterly revenue was up 38.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.17) earnings per share. As a group, analysts expect that Bloom Energy Co. will post -0.23 EPS for the current year.

Insider Buying and Selling

In other news, insider Satish Chitoori sold 1,020 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the sale, the insider now owns 178,656 shares of the company's stock, valued at $4,482,479.04. This trade represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.81% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BE shares. Jefferies Financial Group dropped their target price on Bloom Energy from $25.00 to $19.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th. HSBC upgraded shares of Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 target price for the company in a report on Tuesday, April 8th. Royal Bank of Canada set a $26.00 price target on shares of Bloom Energy in a report on Monday, April 14th. JPMorgan Chase & Co. boosted their price objective on shares of Bloom Energy from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. Finally, Hsbc Global Res raised shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Bloom Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.71.

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.