Headlands Technologies LLC Invests $213,000 in Bloom Energy Co. (NYSE:BE)

Headlands Technologies LLC bought a new position in shares of Bloom Energy Co. (NYSE:BE) during the second quarter, Holdings Channel.com reports. The fund bought 17,380 shares of the company’s stock, valued at approximately $213,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. SIR Capital Management L.P. increased its position in Bloom Energy by 223.3% during the second quarter. SIR Capital Management L.P. now owns 156,500 shares of the company’s stock worth $1,916,000 after acquiring an additional 108,100 shares during the period. Quest Partners LLC increased its holdings in Bloom Energy by 2,780.0% in the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after buying an additional 3,475 shares during the period. Napean Trading & Investment Co Singapore PTE Ltd bought a new stake in Bloom Energy in the 2nd quarter valued at $2,346,000. MKP Capital Management L.L.C. bought a new stake in Bloom Energy in the 2nd quarter valued at $1,603,000. Finally, Arizona State Retirement System increased its holdings in Bloom Energy by 2.7% in the 2nd quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock valued at $696,000 after buying an additional 1,470 shares during the period. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Stock Down 1.7 %

Shares of NYSE BE opened at $10.20 on Friday. The firm’s 50-day simple moving average is $12.21 and its 200 day simple moving average is $12.09. The company has a market cap of $2.32 billion, a price-to-earnings ratio of -7.56 and a beta of 2.69. 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 Co. has a 12-month low of $8.41 and a 12-month high of $18.14.

Bloom Energy (NYSE:BE) last released its 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). Bloom Energy had a negative net margin of 21.37% and a negative return on equity of 11.90%. The company had revenue of $335.80 million for the quarter, compared to the consensus estimate of $307.73 million. During the same period in the prior year, the company posted ($0.32) EPS. The company’s revenue was up 11.5% compared to the same quarter last year. On average, research analysts expect that Bloom Energy Co. will post -0.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Bloom Energy

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

Wall Street Analysts Forecast Growth

BE has been the topic of several analyst reports. Truist Financial boosted their price target on shares of Bloom Energy from $12.00 to $13.00 and gave the company a “hold” rating in a report on Monday, August 12th. BTIG Research boosted their price target on shares of Bloom Energy from $19.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Wells Fargo & Company boosted their price target 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. Jefferies Financial Group lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and lowered their target price for the stock from $15.00 to $11.00 in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. upped their target price on shares of Bloom Energy from $12.00 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. One 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. Based on data from MarketBeat, Bloom Energy presently has a consensus rating of “Hold” and an average price target 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.