DekaBank Deutsche Girozentrale Grows Stock Position in Bloom Energy Co. (NYSE:BE)

DekaBank Deutsche Girozentrale boosted its position in Bloom Energy Co. (NYSE:BE) by 64.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 830,405 shares of the company’s stock after buying an additional 325,814 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.37% of Bloom Energy worth $11,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Millburn Ridgefield Corp boosted its holdings in shares of Bloom Energy by 64.0% in the first quarter. Millburn Ridgefield Corp now owns 3,296 shares of the company’s stock worth $37,000 after acquiring an additional 1,286 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in shares of Bloom Energy by 9.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,299 shares of the company’s stock worth $226,000 after acquiring an additional 1,308 shares during the period. Arizona State Retirement System boosted its holdings in shares of Bloom Energy by 2.7% in the second quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock worth $696,000 after acquiring an additional 1,470 shares during the period. Tocqueville Asset Management L.P. boosted its holdings in shares of Bloom Energy by 3.1% in the first quarter. Tocqueville Asset Management L.P. now owns 59,250 shares of the company’s stock worth $666,000 after acquiring an additional 1,800 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Bloom Energy by 10.6% in the fourth 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. 77.04% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 2,094 shares of Bloom Energy stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $14.53, for a total value of $30,425.82. Following the transaction, the insider now owns 168,867 shares in the company, valued at $2,453,637.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 8.81% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on BE. JPMorgan Chase & Co. raised their price target on Bloom Energy from $12.00 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Bank of America lifted their price objective on Bloom Energy from $8.00 to $9.00 and gave the company an “underperform” rating in a research note on Wednesday, July 17th. BTIG Research lifted their price objective on Bloom Energy from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Royal Bank of Canada reissued an “outperform” rating and set a $15.00 price objective on shares of Bloom Energy in a research note on Thursday, June 20th. Finally, Piper Sandler lifted their price objective on Bloom Energy from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Bloom Energy has a consensus rating of “Hold” and an average price target of $15.88.

Bloom Energy Stock Down 4.1 %

BE opened at $9.78 on Tuesday. The company has a market cap of $2.22 billion, a P/E ratio of -7.24 and a beta of 2.69. The business’s 50-day moving average price is $12.16 and its 200-day moving average price is $12.12. The company has a current ratio of 4.65, a quick ratio of 3.33 and a debt-to-equity ratio of 3.43. Bloom Energy Co. has a 12 month low of $8.41 and a 12 month high of $18.14.

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

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.