Headlands Technologies LLC Buys New Position in Bloom Energy Co. (NYSE:BE)

Headlands Technologies LLC bought a new stake in Bloom Energy Co. (NYSE:BE) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 17,380 shares of the company’s stock, valued at approximately $213,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Millburn Ridgefield Corp boosted its position in shares of Bloom Energy by 64.0% during the 1st quarter. Millburn Ridgefield Corp now owns 3,296 shares of the company’s stock valued at $37,000 after purchasing an additional 1,286 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Bloom Energy by 9.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,299 shares of the company’s stock valued at $226,000 after purchasing an additional 1,308 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Bloom Energy by 2.7% during the 2nd quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock valued at $696,000 after purchasing an additional 1,470 shares in the last quarter. Tocqueville Asset Management L.P. boosted its position in shares of Bloom Energy by 3.1% during the 1st quarter. Tocqueville Asset Management L.P. now owns 59,250 shares of the company’s stock valued at $666,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Bloom Energy by 10.6% during the 4th quarter. Principal Financial Group Inc. now owns 22,294 shares of the company’s stock valued at $330,000 after purchasing an additional 2,139 shares in the last quarter. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Price Performance

Shares of BE opened at $10.20 on Friday. The firm has a market cap of $2.32 billion, a PE ratio of -7.56 and a beta of 2.69. The firm’s 50 day moving average price is $12.21 and its 200 day moving average price is $12.09. The company has a debt-to-equity ratio of 3.43, a quick ratio of 3.33 and a current ratio of 4.65. Bloom Energy Co. has a twelve month low of $8.41 and a twelve month high of $18.14.

Bloom Energy (NYSE:BE) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The firm had revenue of $335.80 million for the quarter, compared to analyst estimates of $307.73 million. Bloom Energy had a negative net margin of 21.37% and a negative return on equity of 11.90%. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.32) earnings per share. As a group, research analysts expect that Bloom Energy Co. will post -0.25 EPS for the current fiscal year.

Insider Activity at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 2,094 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $14.53, for a total value of $30,425.82. Following the completion of the sale, the insider now directly owns 168,867 shares in the company, valued at $2,453,637.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 8.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BE shares. JPMorgan Chase & Co. raised their price objective on shares of Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Jefferies Financial Group cut shares of Bloom Energy from a “buy” rating to a “hold” rating and decreased their target price for the stock from $15.00 to $11.00 in a report on Friday, September 6th. BTIG Research raised their target price on shares of Bloom Energy from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $15.00 target price on shares of Bloom Energy in a report on Thursday, June 20th. Finally, UBS Group decreased their target price on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $15.88.

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.