Bloom Energy Co. (NYSE:BE) Shares Purchased by Voloridge Investment Management LLC

Voloridge Investment Management LLC grew its holdings in shares of Bloom Energy Co. (NYSE:BE) by 323.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,440,428 shares of the company’s stock after buying an additional 1,100,352 shares during the quarter. Voloridge Investment Management LLC owned 0.63% of Bloom Energy worth $31,992,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Sender Co & Partners Inc. purchased a new stake in Bloom Energy during the 4th quarter worth $283,000. SIR Capital Management L.P. boosted its position in shares of Bloom Energy by 155.1% in the fourth quarter. SIR Capital Management L.P. now owns 572,798 shares of the company’s stock worth $12,722,000 after buying an additional 348,279 shares during the period. Select Equity Group L.P. grew its stake in shares of Bloom Energy by 125.5% in the fourth quarter. Select Equity Group L.P. now owns 278,515 shares of the company’s stock valued at $6,186,000 after buying an additional 154,993 shares in the last quarter. SPX Gestao de Recursos Ltda purchased a new stake in shares of Bloom Energy during the 4th quarter valued at about $4,442,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Bloom Energy by 184.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 404,204 shares of the company’s stock valued at $9,209,000 after buying an additional 262,247 shares during the period. Institutional investors and hedge funds own 77.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BE shares. Truist Financial lowered their price objective on shares of Bloom Energy from $22.00 to $19.00 and set a “hold” rating for the company in a research report on Monday, April 21st. Robert W. Baird lowered their price target on shares of Bloom Energy from $32.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Piper Sandler dropped 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 note on Monday, May 5th. TD Cowen upped their price objective on shares of Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, February 28th. Finally, Morgan Stanley dropped their target price on Bloom Energy from $35.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Bloom Energy currently has an average rating of “Moderate Buy” and an average price target of $22.97.

Insider Activity at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 42,383 shares of the firm’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $19.14, for a total value of $811,210.62. Following the sale, the chief executive officer now directly owns 2,724,613 shares in the company, valued at approximately $52,149,092.82. This trade represents a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Satish Chitoori sold 1,020 shares of the business’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 disclosure for this sale can be found here. Insiders sold a total of 54,375 shares of company stock valued at $1,053,445 in the last quarter. Insiders own 3.60% of the company’s stock.

Bloom Energy Price Performance

Shares of NYSE BE opened at $18.24 on Thursday. 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 capitalization of $4.24 billion, a price-to-earnings ratio of -32.57 and a beta of 3.25. Bloom Energy Co. has a twelve month low of $9.02 and a twelve month high of $29.83. The business has a 50 day simple moving average of $19.12 and a 200-day simple moving average of $21.81.

Bloom Energy (NYSE:BE) last released its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share 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 firm had revenue of $326.02 million during the quarter, compared to analyst estimates of $294.27 million. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. The firm’s revenue for the quarter was up 38.5% compared to the same quarter last year. As a group, equities research analysts expect that Bloom Energy Co. will post -0.23 earnings per share for the current 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.