Symmetry Investments LP Sells 24,656 Shares of Bloom Energy Co. (NYSE:BE)

Symmetry Investments LP decreased its stake in shares of Bloom Energy Co. (NYSE:BE) by 44.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,000 shares of the company’s stock after selling 24,656 shares during the period. Symmetry Investments LP’s holdings in Bloom Energy were worth $379,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Bloom Energy by 0.8% in the first quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock worth $221,262,000 after purchasing an additional 156,434 shares during the period. Norges Bank bought a new stake in Bloom Energy in the fourth quarter worth $82,678,000. Coatue Management LLC grew its stake in shares of Bloom Energy by 28.3% in the fourth quarter. Coatue Management LLC now owns 4,436,901 shares of the company’s stock worth $65,666,000 after acquiring an additional 978,053 shares during the last quarter. Electron Capital Partners LLC purchased a new stake in shares of Bloom Energy in the fourth quarter worth $27,796,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of 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 valued at $23,741,000 after acquiring an additional 25,437 shares in the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Insiders Place Their Bets

In other news, insider Shawn Marie Soderberg sold 2,094 shares of Bloom Energy stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $14.53, for a total transaction of $30,425.82. Following the sale, 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 is available at this link. 8.81% of the stock is currently owned by corporate insiders.

Bloom Energy Stock Performance

Shares of NYSE BE opened at $10.91 on Friday. The company has a debt-to-equity ratio of 3.43, a current ratio of 4.65 and a quick ratio of 3.33. Bloom Energy Co. has a 1 year low of $8.41 and a 1 year high of $18.14. The firm has a fifty day moving average price of $11.94 and a 200-day moving average price of $12.13. The stock has a market cap of $2.48 billion, a PE ratio of -8.08 and a beta of 2.69.

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

Analysts Set New Price Targets

Several analysts recently commented on BE shares. UBS Group cut their price objective on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $15.00 price target on shares of Bloom Energy in a research note on Thursday, June 20th. JPMorgan Chase & Co. increased 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. Truist Financial raised their target price on shares of Bloom Energy from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Finally, Bank of America boosted their target price on shares of Bloom Energy from $8.00 to $9.00 and gave the company an “underperform” rating in a research note on Wednesday, July 17th. One 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.com, the company has an average rating of “Hold” and an average target price of $15.88.

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.