Teachers Retirement System of The State of Kentucky Buys New Position in Bloom Energy Co. (NYSE:BE)

Teachers Retirement System of The State of Kentucky acquired a new stake in Bloom Energy Co. (NYSE:BE - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,513 shares of the company's stock, valued at approximately $655,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Mainstream Capital Management LLC bought a new stake in shares of Bloom Energy during the fourth quarter worth about $28,000. Smartleaf Asset Management LLC raised its stake in Bloom Energy by 291.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock worth $28,000 after buying an additional 934 shares during the period. Jones Financial Companies Lllp grew its position in Bloom Energy by 120.5% in the 4th 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 during the period. Wilmington Savings Fund Society FSB bought a new position in Bloom Energy in the 3rd quarter valued at about $34,000. Finally, Avior Wealth Management LLC bought a new position in Bloom Energy during the 4th quarter valued at $40,000. Institutional investors and hedge funds own 77.04% of the company's stock.

Bloom Energy Trading Down 8.1 %

Shares of Bloom Energy stock traded down $1.48 during trading hours on Thursday, reaching $16.84. 12,340,003 shares of the company's stock were exchanged, compared to its average volume of 6,790,381. The company has a fifty day moving average of $20.70 and a 200-day moving average of $20.96. Bloom Energy Co. has a 52-week low of $9.02 and a 52-week high of $29.83. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of -30.07 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 (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. Bloom Energy had a negative return on equity of 20.32% and a negative net margin of 10.29%. The firm had revenue of $326.02 million during the quarter, compared to analysts' expectations of $294.27 million. During the same quarter in the prior year, the business earned ($0.17) EPS. Bloom Energy's quarterly revenue was up 38.5% compared to the same quarter last year. Sell-side analysts forecast that Bloom Energy Co. will post -0.23 EPS for the current fiscal year.

Insider Activity at Bloom Energy

In other news, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction 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 transaction, the insider now directly owns 178,656 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BE. Jefferies Financial Group cut their target price on shares of Bloom Energy from $25.00 to $19.00 and set a "hold" rating for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. raised their price target on Bloom Energy from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Thursday, January 23rd. Robert W. Baird cut their price target on shares of Bloom Energy from $32.00 to $27.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Piper Sandler reduced their price target on Bloom Energy from $33.00 to $31.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Finally, Roth Mkm dropped their price target on Bloom Energy from $26.00 to $20.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.71.

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.