MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 248,122 Shares of Bloom Energy Co. (NYSE:BE)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its holdings in Bloom Energy Co. (NYSE:BE - Free Report) by 18.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,106,088 shares of the company's stock after selling 248,122 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.48% of Bloom Energy worth $24,626,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in BE. Vanguard Group Inc. lifted its stake in Bloom Energy by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company's stock worth $427,194,000 after purchasing an additional 356,317 shares in the last quarter. Norges Bank bought a new stake in shares of Bloom Energy in the fourth quarter worth about $93,951,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Bloom Energy in the fourth quarter worth about $61,968,000. Legal & General Group Plc boosted its stake in Bloom Energy by 7.3% during the fourth quarter. Legal & General Group Plc now owns 2,133,318 shares of the company's stock valued at $47,381,000 after buying an additional 144,616 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Bloom Energy by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company's stock valued at $36,737,000 after buying an additional 10,265 shares during the last quarter. Institutional investors own 77.04% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BE. 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 research note on Wednesday, April 9th. Morgan Stanley decreased their price target on shares of Bloom Energy from $35.00 to $30.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. TD Cowen increased their price objective on shares of Bloom Energy from $13.00 to $20.00 and gave the company a "hold" rating in a research report on Friday, February 28th. Susquehanna dropped their price objective 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. Finally, Hsbc Global Res upgraded shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Bloom Energy has an average rating of "Moderate Buy" and an average price target of $22.47.

Insider Transactions at Bloom Energy

In other news, CEO Kr Sridhar sold 42,383 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $19.14, for a total transaction of $811,210.62. Following the transaction, the chief executive officer now owns 2,724,613 shares in the company, valued at approximately $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 accessible through this link. Also, insider Shawn Marie Soderberg sold 1,496 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $19.89, for a total transaction of $29,755.44. Following the transaction, the insider now owns 229,682 shares in the company, valued at approximately $4,568,374.98. The trade was a 0.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,375 shares of company stock valued at $1,053,445. 3.60% of the stock is currently owned by company insiders.

Bloom Energy Trading Up 0.8%

Shares of BE stock traded up $0.16 on Tuesday, reaching $19.39. 906,890 shares of the company's stock were exchanged, compared to its average volume of 6,682,233. The company's fifty day simple moving average is $19.34 and its 200 day simple moving average is $21.85. The stock has a market capitalization of $4.50 billion, a PE ratio of -34.62 and a beta of 3.25. 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 52 week low of $9.02 and a 52 week high of $29.83.

Bloom Energy (NYSE:BE - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 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 company had revenue of $326.02 million for the quarter, compared to the consensus estimate of $294.27 million. During the same quarter last year, the firm posted ($0.17) EPS. The firm's revenue was up 38.5% compared to the same quarter last year. As a group, analysts forecast that Bloom Energy Co. will post -0.23 EPS for the current year.

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.