Bloom Energy Co. (NYSE:BE) Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its stake in Bloom Energy Co. (NYSE:BE) by 9.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 303,267 shares of the company’s stock after selling 32,159 shares during the quarter. Rhumbline Advisers owned approximately 0.13% of Bloom Energy worth $3,712,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BE. Charles Schwab Investment Management Inc. raised its stake in Bloom Energy by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,604,107 shares of the company’s stock worth $23,741,000 after purchasing an additional 25,437 shares during the period. Principal Financial Group Inc. increased its stake 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 buying an additional 2,139 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Bloom Energy by 18.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,176 shares of the company’s stock worth $1,250,000 after buying an additional 14,173 shares during the period. Janney Montgomery Scott LLC grew its holdings in Bloom Energy by 35.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 73,500 shares of the company’s stock worth $1,088,000 after acquiring an additional 19,090 shares in the last quarter. Finally, Norges Bank acquired a new position in Bloom Energy during the 4th quarter worth approximately $82,678,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Bloom Energy news, insider Shawn Marie Soderberg sold 2,094 shares of Bloom Energy 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 transaction, the insider now owns 168,867 shares of the company’s stock, valued at $2,453,637.51. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 8.81% of the stock is currently owned by corporate insiders.

Bloom Energy Stock Down 4.1 %

Shares of NYSE:BE opened at $9.78 on Tuesday. 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 company has a fifty day simple moving average of $12.16 and a 200 day simple moving average of $12.12. The firm has a market cap of $2.22 billion, a PE ratio of -7.24 and a beta of 2.69. Bloom Energy Co. has a 12-month low of $8.41 and a 12-month high of $18.14.

Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). The business had revenue of $335.80 million during 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 business’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.32) earnings per share. On average, equities research analysts anticipate that Bloom Energy Co. will post -0.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BE. Wells Fargo & Company upped their target price on shares of Bloom Energy from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Monday, May 20th. Piper Sandler upped their price objective on shares of Bloom Energy from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. 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 cut their price target 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. Finally, JPMorgan Chase & Co. increased their price target on shares of Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average 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.