Cresset Asset Management LLC Sells 3,354 Shares of Bloom Energy Co. (NYSE:BE)

Cresset Asset Management LLC decreased its holdings in shares of Bloom Energy Co. (NYSE:BE) by 16.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 16,734 shares of the company’s stock after selling 3,354 shares during the quarter. Cresset Asset Management LLC’s holdings in Bloom Energy were worth $372,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mainstream Capital Management LLC bought a new stake in shares of Bloom Energy during the 4th quarter valued at $28,000. Smartleaf Asset Management LLC increased its position in shares of 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 position 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 valued at $33,000 after buying an additional 812 shares in the last quarter. Quarry LP bought a new stake in shares of Bloom Energy in the 4th quarter valued at $35,000. Finally, Avior Wealth Management LLC bought a new stake in shares of Bloom Energy in the 4th quarter valued at $40,000. Institutional investors own 77.04% of the company’s stock.

Insider Buying and Selling at Bloom Energy

In other news, CEO Kr Sridhar sold 42,383 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $19.14, for a total transaction of $811,210.62. Following the transaction, the chief executive officer now directly owns 2,724,613 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shawn Marie Soderberg sold 2,780 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $19.72, for a total transaction of $54,821.60. Following the transaction, the insider now directly owns 152,890 shares in the company, valued at $3,014,990.80. This represents a 1.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,879 shares of company stock valued at $1,023,690 in the last three months. 3.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BE has been the subject of a number of recent analyst reports. Mizuho upgraded shares of Bloom Energy from a “neutral” rating to an “outperform” rating and lowered their price objective for the company from $28.00 to $26.00 in a research report on Monday, May 5th. Redburn Atlantic cut shares of Bloom Energy from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $14.50 to $10.00 in a research report on Wednesday, April 9th. HSBC upgraded shares of Bloom Energy from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Tuesday, April 8th. Hsbc Global Res raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Finally, Piper Sandler reduced their target price on shares of Bloom Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.47.

Bloom Energy Trading Down 2.2%

Bloom Energy stock opened at $19.81 on Friday. The firm has a 50-day moving average of $19.55 and a 200-day moving average of $21.55. Bloom Energy Co. has a one year low of $9.02 and a one year high of $29.83. 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 company has a market cap of $4.60 billion, a price-to-earnings ratio of -35.37 and a beta of 3.25.

Bloom Energy (NYSE:BE) last issued its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating 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 business had revenue of $326.02 million during the quarter, compared to the consensus estimate of $294.27 million. During the same period last year, the business posted ($0.17) EPS. Bloom Energy’s revenue was up 38.5% on a year-over-year basis. On average, equities analysts expect 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.