Hsbc Holdings PLC Has $10.51 Million Stock Holdings in Bloom Energy Co. (NYSE:BE)

Hsbc Holdings PLC decreased its holdings in shares of Bloom Energy Co. (NYSE:BE) by 3.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 850,833 shares of the company’s stock after selling 28,001 shares during the quarter. Hsbc Holdings PLC owned approximately 0.37% of Bloom Energy worth $10,510,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Millburn Ridgefield Corp lifted its stake in shares of Bloom Energy by 64.0% in the 1st quarter. Millburn Ridgefield Corp now owns 3,296 shares of the company’s stock valued at $37,000 after acquiring an additional 1,286 shares during the last quarter. BNP Paribas acquired a new stake in Bloom Energy in the first quarter valued at approximately $38,000. ORG Partners LLC acquired a new stake in Bloom Energy in the 2nd quarter valued at $40,000. Quest Partners LLC raised its holdings in shares of Bloom Energy by 2,780.0% in the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after acquiring an additional 3,475 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC bought a new position in shares of Bloom Energy in the second quarter valued at approximately $53,000. Institutional investors own 77.04% of the company’s stock.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 2,094 shares of Bloom Energy stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $14.53, for a total value of $30,425.82. Following the sale, the insider now owns 168,867 shares of the company’s stock, valued at approximately $2,453,637.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.81% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Jefferies Financial Group lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and reduced their price target for the company from $15.00 to $11.00 in a research report on Friday, September 6th. JPMorgan Chase & Co. raised their price target on Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Piper Sandler lifted their price objective on shares of Bloom Energy from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Truist Financial boosted their price objective 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, BTIG Research boosted their price objective on Bloom Energy from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. One investment 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $15.88.

Bloom Energy Stock Performance

NYSE:BE opened at $10.85 on Tuesday. Bloom Energy Co. has a fifty-two week low of $8.41 and a fifty-two week high of $18.14. The company has a debt-to-equity ratio of 3.43, a quick ratio of 3.33 and a current ratio of 4.65. The company has a 50 day moving average price of $11.86 and a 200 day moving average price of $12.15. The stock has a market capitalization of $2.46 billion, a P/E ratio of -8.03 and a beta of 2.69.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data 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 business had revenue of $335.80 million during the quarter, compared to the consensus estimate of $307.73 million. During the same period in the previous year, the company posted ($0.32) earnings per share. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. Equities research analysts forecast 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.