Bloom Energy Co. (NYSE:BE) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC decreased its holdings in Bloom Energy Co. (NYSE:BE) by 14.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,635,149 shares of the company’s stock after selling 632,577 shares during the period. Clearbridge Investments LLC’s holdings in Bloom Energy were worth $44,494,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

A number of analysts have issued reports on BE shares. BTIG Research upped their price objective on Bloom Energy from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Piper Sandler upped their target price on Bloom Energy from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. UBS Group cut their target price on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a 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 report on Thursday, June 20th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Bloom Energy from $12.00 to $14.00 and gave the stock a “neutral” rating in a research 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 assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $15.88.

Insiders Place Their Bets

In other Bloom Energy news, insider Shawn Marie Soderberg sold 2,094 shares of Bloom Energy stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $14.53, for a total transaction of $30,425.82. Following the completion of the transaction, the insider now owns 168,867 shares in the company, valued at $2,453,637.51. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.81% of the stock is owned by company insiders.

Bloom Energy Stock Performance

Shares of BE opened at $10.64 on Friday. The company has a market capitalization of $2.42 billion, a PE ratio of -7.88 and a beta of 2.69. Bloom Energy Co. has a 52-week low of $8.41 and a 52-week high of $18.14. The company has a 50-day simple moving average of $11.19 and a 200-day simple moving average of $12.15. The company has a quick ratio of 3.33, a current ratio of 4.65 and a debt-to-equity ratio of 3.43.

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