Raymond James Financial Services Advisors Inc. Decreases Stock Holdings in Bloom Energy Co. (NYSE:BE)

Raymond James Financial Services Advisors Inc. decreased its position in Bloom Energy Co. (NYSE:BE) by 15.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,991 shares of the company’s stock after selling 9,097 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Bloom Energy were worth $710,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of BE. Norges Bank purchased a new position in shares of Bloom Energy in the fourth quarter valued at about $102,826,000. FMR LLC boosted its stake in shares of Bloom Energy by 168.8% during the 3rd quarter. FMR LLC now owns 3,524,361 shares of the company’s stock valued at $46,733,000 after purchasing an additional 2,213,167 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Bloom Energy by 12.8% during the 3rd quarter. Vanguard Group Inc. now owns 16,259,631 shares of the company’s stock valued at $325,030,000 after purchasing an additional 1,842,320 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Bloom Energy during the 1st quarter valued at about $15,759,000. Finally, Millennium Management LLC boosted its stake in shares of Bloom Energy by 885.1% during the 4th quarter. Millennium Management LLC now owns 860,687 shares of the company’s stock valued at $16,456,000 after purchasing an additional 773,317 shares in the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Insider Activity at Bloom Energy

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. BMO Capital Markets cut their target price on shares of Bloom Energy from $11.00 to $10.00 and set a “market perform” rating on the stock 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 on the stock in a research note on Wednesday, March 27th. Evercore ISI started coverage on shares of Bloom Energy in a research note on Monday, April 1st. They set an “outperform” rating and a $21.00 target price on the stock. JPMorgan Chase & Co. lowered shares of Bloom Energy from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $19.00 to $14.00 in a research note on Friday, February 16th. Finally, Truist Financial raised shares of Bloom Energy from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $9.00 to $11.00 in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.69.

Bloom Energy Stock Down 3.7 %

Shares of Bloom Energy stock opened at $9.86 on Wednesday. The company has a 50-day simple moving average of $10.38 and a two-hundred day simple moving average of $11.79. The company has a debt-to-equity ratio of 2.41, a quick ratio of 2.53 and a current ratio of 3.60. The stock has a market capitalization of $2.22 billion, a PE ratio of -6.80 and a beta of 2.79. Bloom Energy Co. has a 52-week low of $8.41 and a 52-week high of $18.77.

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 analysts’ consensus estimates of ($0.06) by $0.11. The firm had revenue of $356.92 million during the quarter, compared to analysts’ expectations of $481.90 million. Bloom Energy had a negative net margin of 22.66% and a negative return on equity of 23.88%. On average, analysts anticipate that Bloom Energy Co. will post -0.17 EPS for the current fiscal year.

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.