Sei Investments Co. Has $691,000 Holdings in Bloom Energy Corporation (NYSE:BE)

Sei Investments Co. lifted its holdings in Bloom Energy Corporation (NYSE:BE) by 3.7% during the 1st quarter, Holdings Channel reports. The fund owned 33,424 shares of the company’s stock after acquiring an additional 1,184 shares during the quarter. Sei Investments Co.’s holdings in Bloom Energy were worth $691,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of BE. Fuller & Thaler Asset Management Inc. bought a new position in Bloom Energy in the 4th quarter valued at $61,968,000. Voloridge Investment Management LLC boosted its position in Bloom Energy by 323.6% in the 4th quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company’s stock valued at $31,992,000 after buying an additional 1,100,352 shares during the last quarter. DigitalBridge Group Inc. boosted its position in Bloom Energy by 5.7% in the 4th quarter. DigitalBridge Group Inc. now owns 1,418,257 shares of the company’s stock valued at $31,499,000 after buying an additional 75,974 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Bloom Energy by 306.3% in the 4th quarter. Wellington Management Group LLP now owns 1,383,897 shares of the company’s stock worth $30,736,000 after purchasing an additional 1,043,326 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its position in shares of Bloom Energy by 98.6% in the 4th quarter. Two Sigma Advisers LP now owns 1,380,034 shares of the company’s stock worth $30,651,000 after purchasing an additional 685,100 shares during the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BE. JPMorgan Chase & Co. upgraded Bloom Energy from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $18.00 to $33.00 in a research report on Wednesday, July 9th. Roth Capital raised their price objective on Bloom Energy from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Morgan Stanley raised their price objective on Bloom Energy from $35.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Truist Financial dropped their price objective on Bloom Energy from $22.00 to $19.00 and set a “hold” rating on the stock in a research note on Monday, April 21st. Finally, UBS Group raised their price objective on Bloom Energy from $29.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.39.

Bloom Energy Stock Performance

BE opened at $45.32 on Friday. The company has a market capitalization of $10.60 billion, a price-to-earnings ratio of 1,133.28 and a beta of 3.28. The business’s 50-day moving average price is $28.57 and its two-hundred day moving average price is $23.53. The company has a debt-to-equity ratio of 2.18, a current ratio of 4.99 and a quick ratio of 3.21. Bloom Energy Corporation has a 1 year low of $9.02 and a 1 year high of $47.21.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.08. The company had revenue of $401.24 million during the quarter, compared to analysts’ expectations of $382.23 million. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%. Bloom Energy’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.06) EPS. Equities analysts expect that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Maciej Kurzymski sold 8,733 shares of the firm’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $22.79, for a total value of $199,025.07. Following the completion of the transaction, the insider owned 109,860 shares in the company, valued at $2,503,709.40. This trade represents a 7.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Satish Chitoori sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $45.00, for a total value of $900,000.00. Following the completion of the transaction, the insider owned 234,493 shares of the company’s stock, valued at $10,552,185. The trade was a 7.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,057 shares of company stock worth $3,512,484 over the last 90 days. 3.60% of the stock is currently owned by insiders.

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.