CastleKnight Management LP Makes New Investment in Bloom Energy Co. (NYSE:BE)

CastleKnight Management LP purchased a new stake in Bloom Energy Co. (NYSE:BE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 31,505 shares of the company’s stock, valued at approximately $700,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mainstream Capital Management LLC bought a new position in Bloom Energy in the 4th quarter valued at about $28,000. Smartleaf Asset Management LLC increased its stake in shares of Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after purchasing an additional 934 shares during the period. Jones Financial Companies Lllp lifted its holdings in Bloom Energy by 120.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after purchasing an additional 812 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Bloom Energy in the 3rd quarter valued at $34,000. Finally, Quarry LP bought a new position in Bloom Energy during the 4th quarter worth $35,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Stock Performance

Shares of Bloom Energy stock opened at $16.36 on Wednesday. The business has a 50-day moving average price of $20.21 and a two-hundred day moving average price of $21.20. Bloom Energy Co. has a 1-year low of $9.02 and a 1-year high of $29.83. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The company has a market cap of $3.77 billion, a P/E ratio of -29.21 and a beta of 3.25.

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

Analyst Ratings Changes

Several equities analysts recently commented on BE shares. Mizuho upgraded shares of 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. Roth Mkm dropped their price target on shares of Bloom Energy from $26.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Jefferies Financial Group reduced their price target 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 Global Res raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Finally, Morgan Stanley reduced their price objective 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. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.34.

Insider Buying and Selling at Bloom Energy

In other news, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction dated Monday, March 17th. The shares were 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 in the company, valued at $4,482,479.04. This trade represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.