Banque Cantonale Vaudoise Cuts Stake in Bloom Energy Co. (NYSE:BE)

Banque Cantonale Vaudoise decreased its stake in shares of Bloom Energy Co. (NYSE:BE) by 6.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,771 shares of the company’s stock after selling 2,970 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Bloom Energy were worth $503,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of BE. Tsfg LLC increased its holdings in shares of Bloom Energy by 11.1% in the 4th quarter. Tsfg LLC now owns 10,006 shares of the company’s stock valued at $148,000 after acquiring an additional 1,000 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of Bloom Energy by 9.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,299 shares of the company’s stock worth $226,000 after buying an additional 1,308 shares during the period. Principal Financial Group Inc. lifted its position in Bloom Energy by 10.6% during the 4th quarter. Principal Financial Group Inc. now owns 22,294 shares of the company’s stock worth $330,000 after acquiring an additional 2,139 shares during the period. M&T Bank Corp grew its position in Bloom Energy by 17.1% in the 4th quarter. M&T Bank Corp now owns 16,073 shares of the company’s stock valued at $238,000 after buying an additional 2,343 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Bloom Energy by 4.2% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 58,517 shares of the company’s stock valued at $906,000 after acquiring an additional 2,379 shares in the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

Analyst Ratings Changes

BE has been the topic of several research analyst reports. Truist Financial upgraded shares of Bloom Energy from a “sell” rating to a “hold” rating and boosted their target price for the stock from $9.00 to $11.00 in a research report on Wednesday, March 6th. TD Cowen upped their price objective on shares of Bloom Energy from $10.00 to $13.00 and gave the company a “hold” rating in a research note on Friday, May 10th. BTIG Research upped their target price on Bloom Energy from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Susquehanna lowered their target price on shares of Bloom Energy from $18.00 to $16.00 and set a “positive” rating for the company in a report on Wednesday, March 27th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $15.00 target price on shares of Bloom Energy in a research report on Thursday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Bloom Energy currently has an average rating of “Hold” and an average target price of $15.69.

Bloom Energy Stock Performance

Shares of Bloom Energy stock opened at $12.82 on Friday. The company has a debt-to-equity ratio of 2.56, a quick ratio of 2.97 and a current ratio of 4.45. The firm’s 50-day simple moving average is $13.05 and its 200-day simple moving average is $12.20. Bloom Energy Co. has a 1 year low of $8.41 and a 1 year high of $18.76. The firm has a market cap of $2.91 billion, a PE ratio of -9.50 and a beta of 2.83.

Bloom Energy (NYSE:BE) last issued its earnings results on Thursday, May 9th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). Bloom Energy had a negative net margin of 22.27% and a negative return on equity of 19.32%. The company had revenue of $235.30 million during the quarter, compared to analyst estimates of $254.06 million. Equities analysts forecast that Bloom Energy Co. will post -0.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Bloom Energy news, CEO Kr Sridhar sold 40,112 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $11.93, for a total transaction of $478,536.16. Following the completion of the transaction, the chief executive officer now owns 2,742,496 shares in the company, valued at approximately $32,717,977.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Kr Sridhar sold 40,112 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $11.93, for a total transaction of $478,536.16. Following the transaction, the chief executive officer now owns 2,742,496 shares in the company, valued at $32,717,977.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eddy Zervigon sold 28,150 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $12.86, for a total value of $362,009.00. Following the completion of the sale, the director now owns 111,161 shares of the company’s stock, valued at approximately $1,429,530.46. The disclosure for this sale can be found here. Insiders have sold a total of 78,385 shares of company stock valued at $943,038 in the last quarter. Company insiders own 8.81% 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.