Mutual of America Capital Management LLC Buys 47,462 Shares of Bloom Energy Co. (NYSE:BE)

Mutual of America Capital Management LLC raised its stake in shares of Bloom Energy Co. (NYSE:BE) by 20.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 280,288 shares of the company’s stock after purchasing an additional 47,462 shares during the period. Mutual of America Capital Management LLC’s holdings in Bloom Energy were worth $4,148,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Millburn Ridgefield Corp bought a new stake in shares of Bloom Energy during the 3rd quarter valued at $33,000. Quantbot Technologies LP raised its holdings in Bloom Energy by 27.8% during the first quarter. Quantbot Technologies LP now owns 4,673 shares of the company’s stock valued at $112,000 after acquiring an additional 1,017 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of Bloom Energy in the first quarter valued at about $123,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Bloom Energy by 17.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the company’s stock worth $102,000 after acquiring an additional 1,117 shares during the period. Finally, Chilton Capital Management LLC purchased a new stake in shares of Bloom Energy during the first quarter worth about $159,000. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Stock Performance

NYSE BE opened at $9.86 on Wednesday. The business’s 50 day moving average price is $10.38 and its 200-day moving average price is $11.79. Bloom Energy Co. has a fifty-two week low of $8.41 and a fifty-two week high of $18.77. The company has a market cap of $2.22 billion, a P/E ratio of -6.80 and a beta of 2.79. The company has a debt-to-equity ratio of 2.41, a quick ratio of 2.53 and a current ratio of 3.60.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data on Thursday, February 15th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.11. The business had revenue of $356.92 million during the quarter, compared to the consensus estimate of $481.90 million. Bloom Energy had a negative net margin of 22.66% and a negative return on equity of 23.88%. Sell-side analysts predict that Bloom Energy Co. will post -0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BE. Piper Sandler dropped their price target on Bloom Energy from $14.00 to $11.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. Susquehanna cut their target price on shares of Bloom Energy from $18.00 to $16.00 and set a “positive” rating for the company in a research note on Wednesday, March 27th. JPMorgan Chase & Co. downgraded shares of Bloom Energy from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $19.00 to $14.00 in a report on Friday, February 16th. Morgan Stanley restated an “overweight” rating and set a $22.00 price objective on shares of Bloom Energy in a research report on Monday, March 25th. Finally, BTIG Research assumed coverage on Bloom Energy in a report on Thursday, January 25th. They issued a “buy” rating and a $21.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.69.

Insider Activity at Bloom Energy

In other news, EVP Shawn Marie Soderberg sold 13,120 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $9.34, for a total value of $122,540.80. Following the transaction, the executive vice president now directly owns 73,946 shares in the company, valued at $690,655.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Bloom Energy news, CEO Kr Sridhar sold 50,746 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $9.74, for a total transaction of $494,266.04. Following the transaction, the chief executive officer now directly owns 2,702,608 shares in the company, valued at approximately $26,323,401.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Shawn Marie Soderberg sold 13,120 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $9.34, for a total value of $122,540.80. Following the completion of the sale, the executive vice president now owns 73,946 shares of the company’s stock, valued at $690,655.64. The disclosure for this sale can be found here. Insiders sold a total of 66,026 shares of company stock worth $636,916 in the last quarter. 3.50% of the stock is owned by company insiders.

About Bloom Energy

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.