Vanguard Group Inc. Has $289.03 Million Stake in Bloom Energy Co. (NYSE:BE)

Vanguard Group Inc. boosted its position in Bloom Energy Co. (NYSE:BE) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,528,801 shares of the company’s stock after purchasing an additional 307,627 shares during the period. Vanguard Group Inc. owned 8.68% of Bloom Energy worth $289,026,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Deutsche Bank AG increased its holdings in Bloom Energy by 6.2% in the third quarter. Deutsche Bank AG now owns 971,194 shares of the company’s stock valued at $12,878,000 after purchasing an additional 57,090 shares during the period. FMR LLC raised its position in shares of Bloom Energy by 168.8% during the third quarter. FMR LLC now owns 3,524,361 shares of the company’s stock worth $46,733,000 after acquiring an additional 2,213,167 shares during the last quarter. Electron Capital Partners LLC acquired a new position in shares of Bloom Energy in the fourth quarter worth approximately $27,796,000. Norges Bank bought a new stake in Bloom Energy in the fourth quarter valued at approximately $82,678,000. Finally, KBC Group NV increased its position in Bloom Energy by 26.1% during the 4th quarter. KBC Group NV now owns 586,242 shares of the company’s stock valued at $8,676,000 after purchasing an additional 121,287 shares during the period. 77.04% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Eddy Zervigon sold 28,150 shares of Bloom Energy stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $12.86, for a total transaction of $362,009.00. Following the sale, the director now directly owns 111,161 shares in the company, valued at $1,429,530.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Bloom Energy news, Director Eddy Zervigon sold 28,150 shares of Bloom Energy stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $12.86, for a total value of $362,009.00. Following the sale, the director now owns 111,161 shares of the company’s stock, valued at $1,429,530.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kr Sridhar sold 40,112 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were 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 $32,717,977.28. The disclosure for this sale can be found here. Insiders sold a total of 78,385 shares of company stock valued at $943,038 over the last three months. Corporate insiders own 8.81% of the company’s stock.

Bloom Energy Trading Down 6.1 %

NYSE BE opened at $12.24 on Friday. The company has a current ratio of 4.45, a quick ratio of 2.97 and a debt-to-equity ratio of 2.56. The firm has a market capitalization of $2.78 billion, a P/E ratio of -9.07 and a beta of 2.83. The business has a fifty day simple moving average of $13.36 and a 200 day simple moving average of $12.17. Bloom Energy Co. has a 12 month low of $8.41 and a 12 month high of $18.76.

Bloom Energy (NYSE:BE) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.25) earnings per share 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 firm had revenue of $235.30 million for the quarter, compared to the consensus estimate of $254.06 million. On average, analysts predict that Bloom Energy Co. will post -0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BE. Susquehanna reduced their price objective on shares of Bloom Energy from $18.00 to $16.00 and set a “positive” rating on the stock in a research note on Wednesday, March 27th. Evercore ISI lowered their price objective on Bloom Energy from $21.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Morgan Stanley restated an “overweight” rating and set a $22.00 target price on shares of Bloom Energy in a research report on Monday, March 25th. Wells Fargo & Company lifted their target price on Bloom Energy from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Monday, May 20th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $15.00 price target on shares of Bloom Energy in a report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $15.69.

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.