Point72 Asset Management L.P. Purchases New Holdings in Bloom Energy Co. (NYSE:BE)

Point72 Asset Management L.P. acquired a new position in shares of Bloom Energy Co. (NYSE:BE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 939,724 shares of the company’s stock, valued at approximately $20,871,000. Point72 Asset Management L.P. owned approximately 0.41% of Bloom Energy as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in BE. Mainstream Capital Management LLC acquired a new stake in shares of Bloom Energy during the fourth quarter worth approximately $28,000. Smartleaf Asset Management LLC boosted its stake in shares of Bloom Energy by 291.0% during 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 during the period. Jones Financial Companies Lllp boosted its stake in shares of Bloom Energy by 120.5% during 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 during the period. Quarry LP acquired a new position in shares of Bloom Energy in the fourth quarter worth $35,000. Finally, Avior Wealth Management LLC acquired a new position in shares of Bloom Energy in the fourth quarter worth $40,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Bloom Energy Trading Up 1.6%

Bloom Energy stock opened at $20.14 on Friday. Bloom Energy Co. has a 52 week low of $9.02 and a 52 week high of $29.83. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The firm has a market capitalization of $4.68 billion, a PE ratio of -35.96 and a beta of 3.25. The business’s 50-day simple moving average is $19.45 and its 200-day simple moving average is $21.70.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. BMO Capital Markets reaffirmed a “market perform” rating on shares of Bloom Energy in a research report on Friday, February 28th. Morgan Stanley dropped their price objective on Bloom Energy from $35.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Truist Financial reduced their target price on shares of Bloom Energy from $22.00 to $19.00 and set a “hold” rating for the company in a research note on Monday, April 21st. Redburn Atlantic lowered shares of Bloom Energy from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $14.50 to $10.00 in a research note on Wednesday, April 9th. Finally, Susquehanna cut their price target on shares of Bloom Energy from $33.00 to $26.00 and set a “positive” rating on the stock in a report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.47.

Insiders Place Their Bets

In other news, insider Satish Chitoori sold 1,020 shares of the firm’s 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 of the company’s stock, valued at approximately $4,482,479.04. This trade represents a 0.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shawn Marie Soderberg sold 2,780 shares of the firm’s stock in a transaction dated 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 owns 152,890 shares of the company’s stock, valued at approximately $3,014,990.80. This represents a 1.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,375 shares of company stock worth $1,053,445 in the last ninety days. Insiders own 3.50% of the company’s stock.

About Bloom Energy

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.