Bloom Energy Co. (NYSE:BE) Shares Purchased by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD boosted its position in Bloom Energy Co. (NYSE:BE) by 11.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 144,890 shares of the company’s stock after purchasing an additional 14,707 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Bloom Energy were worth $3,219,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BE. Mainstream Capital Management LLC purchased a new stake in shares of Bloom Energy in the fourth quarter valued at approximately $28,000. Smartleaf Asset Management LLC grew its holdings in 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 buying an additional 934 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Bloom Energy by 120.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after acquiring an additional 812 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Bloom Energy during the 3rd quarter worth $34,000. Finally, Avior Wealth Management LLC acquired a new position in shares of Bloom Energy during the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on BE shares. Robert W. Baird reduced their target price on shares of Bloom Energy from $32.00 to $27.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Roth Mkm lowered their price objective on Bloom Energy from $26.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Mizuho raised Bloom Energy from a “neutral” rating to an “outperform” rating and decreased their price target for the company from $28.00 to $26.00 in a research note on Monday. Morgan Stanley cut their price objective on Bloom Energy from $35.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Finally, Jefferies Financial Group decreased their target price on shares of Bloom Energy from $25.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Bloom Energy has an average rating of “Moderate Buy” and an average price target of $22.34.

Insider Buying and Selling

In other news, insider Satish Chitoori sold 1,020 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the completion of the transaction, 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 can be accessed through this link. Insiders own 3.60% of the company’s stock.

Bloom Energy Price Performance

BE stock opened at $16.41 on Tuesday. The business’s 50-day moving average is $20.34 and its two-hundred day moving average is $21.24. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The firm has a market capitalization of $3.78 billion, a P/E ratio of -29.30 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.

Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, topping 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 company had revenue of $326.02 million during the quarter, compared to the consensus estimate of $294.27 million. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. The firm’s quarterly revenue was up 38.5% on a year-over-year basis. Analysts anticipate that Bloom Energy Co. will post -0.23 earnings per share for the current fiscal 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.