Moors & Cabot Inc. Invests $263,000 in Bloom Energy Co. (NYSE:BE)

Moors & Cabot Inc. purchased a new stake in Bloom Energy Co. (NYSE:BE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 21,510 shares of the company’s stock, valued at approximately $263,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BE. Millburn Ridgefield Corp grew its holdings in shares of Bloom Energy by 64.0% during the first quarter. Millburn Ridgefield Corp now owns 3,296 shares of the company’s stock valued at $37,000 after buying an additional 1,286 shares during the last quarter. BNP Paribas acquired a new position in Bloom Energy during the 1st quarter valued at about $38,000. Quest Partners LLC bought a new stake in Bloom Energy during the 4th quarter worth approximately $51,000. ORG Partners LLC bought a new position in shares of Bloom Energy in the second quarter valued at approximately $40,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new position in shares of Bloom Energy during the second quarter valued at approximately $53,000. Institutional investors own 77.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BE. JPMorgan Chase & Co. raised their price objective on Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. BTIG Research raised their price target on shares of Bloom Energy from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Bank of America upped their price objective on shares of Bloom Energy from $8.00 to $9.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. UBS Group dropped their price target on Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Finally, Jefferies Financial Group downgraded Bloom Energy from a “buy” rating to a “hold” rating and reduced their price objective for the company from $15.00 to $11.00 in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $15.88.

Insider Activity

In other news, insider Shawn Marie Soderberg sold 2,094 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 168,867 shares in the company, valued at $2,453,637.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.81% of the company’s stock.

Bloom Energy Stock Performance

Shares of BE stock opened at $10.91 on Friday. Bloom Energy Co. has a 12 month low of $8.41 and a 12 month high of $18.14. The stock has a market capitalization of $2.48 billion, a P/E ratio of -8.08 and a beta of 2.69. The company has a current ratio of 4.65, a quick ratio of 3.33 and a debt-to-equity ratio of 3.43. The firm’s 50 day moving average is $11.94 and its 200 day moving average is $12.11.

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

Bloom Energy Company 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.