Bloom Energy Co. (NYSE:BE) Shares Sold by Northern Trust Corp

Northern Trust Corp trimmed its position in Bloom Energy Co. (NYSE:BE - Free Report) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,856,394 shares of the company's stock after selling 17,338 shares during the quarter. Northern Trust Corp owned about 0.81% of Bloom Energy worth $41,231,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in BE. Wilmington Savings Fund Society FSB acquired a new stake in Bloom Energy during the third quarter worth $34,000. Franklin Resources Inc. boosted its stake in Bloom Energy by 62.4% during the third quarter. Franklin Resources Inc. now owns 125,598 shares of the company's stock worth $1,314,000 after buying an additional 48,258 shares during the period. B. Riley Wealth Advisors Inc. increased its position in shares of Bloom Energy by 21.8% during the third quarter. B. Riley Wealth Advisors Inc. now owns 21,404 shares of the company's stock valued at $226,000 after acquiring an additional 3,824 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Bloom Energy by 26.8% in the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company's stock valued at $60,000 after acquiring an additional 569 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Bloom Energy by 2.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 47,400 shares of the company's stock worth $1,053,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company's stock.

Bloom Energy Stock Up 2.0 %

BE traded up $0.34 on Friday, reaching $17.58. The company's stock had a trading volume of 3,469,985 shares, compared to its average volume of 6,822,711. The company has a market capitalization of $4.05 billion, a price-to-earnings ratio of -31.39 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 stock has a 50 day moving average of $19.83 and a two-hundred day moving average of $21.36.

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

Analyst Upgrades and Downgrades

BE has been the subject of several research reports. Jefferies Financial Group dropped their target price on shares of Bloom Energy from $25.00 to $19.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. HSBC raised Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 price objective for the company in a research note on Tuesday, April 8th. Redburn Atlantic lowered Bloom Energy from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $14.50 to $10.00 in a research note on Wednesday, April 9th. Susquehanna dropped their target price on Bloom Energy from $33.00 to $26.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Finally, Piper Sandler reduced their price target on shares of Bloom Energy from $31.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Two research 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's stock. According to data from MarketBeat, Bloom Energy currently has a consensus rating of "Moderate Buy" and an average target price of $22.47.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Satish Chitoori sold 1,020 shares of the firm's stock in a transaction 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 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.60% of the company's stock.

Bloom Energy Company 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.