Creative Planning Sells 2,233 Shares of Bloom Energy Co. (NYSE:BE)

Creative Planning trimmed its position in Bloom Energy Co. (NYSE:BE) by 6.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,161 shares of the company’s stock after selling 2,233 shares during the quarter. Creative Planning’s holdings in Bloom Energy were worth $340,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Bloom Energy by 0.8% in the first quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock valued at $221,262,000 after purchasing an additional 156,434 shares during the last quarter. Electron Capital Partners LLC increased its stake in shares of Bloom Energy by 131.5% in the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after acquiring an additional 1,790,733 shares during the last quarter. DigitalBridge Group Inc. grew its holdings in shares of Bloom Energy by 66.3% during the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock worth $14,203,000 after purchasing an additional 462,581 shares during the period. Pinnacle Associates Ltd. boosted its holdings in Bloom Energy by 48.6% during the 2nd quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company’s stock valued at $10,644,000 after acquiring an additional 284,298 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its position in Bloom Energy by 64.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 830,405 shares of the company’s stock valued at $11,017,000 after purchasing an additional 325,814 shares in the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

Bloom Energy Stock Performance

Shares of BE stock opened at $13.17 on Friday. The company has a 50 day moving average price of $10.42 and a 200-day moving average price of $12.10. The company has a quick ratio of 3.33, a current ratio of 4.65 and a debt-to-equity ratio of 3.43. The firm has a market capitalization of $3.00 billion, a PE ratio of -10.13 and a beta of 2.71. Bloom Energy Co. has a 52 week low of $8.41 and a 52 week high of $18.14.

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 net margin of 21.37% and a negative return on equity of 11.90%. The firm had revenue of $335.80 million for the quarter, compared to analysts’ expectations of $307.73 million. During the same period in the prior year, the business posted ($0.32) earnings per share. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, equities research analysts expect that Bloom Energy Co. will post -0.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Robert W. Baird decreased their price target on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday. Bank of America cut their price objective on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a research note on Thursday. UBS Group lowered their target price on Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Susquehanna reduced their price objective on Bloom Energy from $16.00 to $13.00 and set a “positive” rating for the company in a research note on Wednesday, October 16th. Finally, Truist Financial cut their price objective on Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Bloom Energy currently has a consensus rating of “Hold” and a consensus target price of $14.92.

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.