Quest Partners LLC Has $44,000 Stake in Bloom Energy Co. (NYSE:BE)

Quest Partners LLC lifted its position in shares of Bloom Energy Co. (NYSE:BE) by 2,780.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,600 shares of the company’s stock after buying an additional 3,475 shares during the quarter. Quest Partners LLC’s holdings in Bloom Energy were worth $44,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Millburn Ridgefield Corp increased 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 worth $37,000 after purchasing an additional 1,286 shares in the last quarter. BNP Paribas acquired a new position in shares of Bloom Energy during the 1st quarter valued at $38,000. ORG Partners LLC acquired a new position in shares of Bloom Energy during the 2nd quarter valued at $40,000. Gilliland Jeter Wealth Management LLC acquired a new stake in Bloom Energy in the second quarter worth $53,000. Finally, Mather Group LLC. acquired a new stake in shares of Bloom Energy in the 2nd quarter valued at about $66,000. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Trading Up 0.5 %

NYSE:BE opened at $10.14 on Thursday. The company’s 50 day moving average is $12.06 and its 200-day moving average is $12.11. 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. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of -7.51 and a beta of 2.69.

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 return on equity of 11.90% and a negative net margin of 21.37%. The firm had revenue of $335.80 million for the quarter, compared to analyst estimates of $307.73 million. During the same quarter last year, the firm posted ($0.32) EPS. The company’s revenue was up 11.5% on a year-over-year basis. Equities analysts anticipate that Bloom Energy Co. will post -0.25 EPS for the current year.

Insider Activity

In related news, insider Shawn Marie Soderberg sold 2,094 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was 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 $2,453,637.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.81% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BE has been the subject of several analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $15.00 target price on shares of Bloom Energy in a report on Thursday, June 20th. Bank of America increased their target price on shares of Bloom Energy from $8.00 to $9.00 and gave the company an “underperform” rating in a report on Wednesday, July 17th. Piper Sandler boosted their price target on Bloom Energy from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. lifted their price target on Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Finally, 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 report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $15.88.

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.