Arizona State Retirement System Increases Position in Bloom Energy Co. (NYSE:BE)

Arizona State Retirement System increased its stake in Bloom Energy Co. (NYSE:BE) by 8.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,321 shares of the company’s stock after purchasing an additional 4,152 shares during the quarter. Arizona State Retirement System’s holdings in Bloom Energy were worth $834,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in BE. Deutsche Bank AG grew its stake in Bloom Energy by 6.2% in the 3rd quarter. Deutsche Bank AG now owns 971,194 shares of the company’s stock valued at $12,878,000 after acquiring an additional 57,090 shares during the last quarter. 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 worth $46,733,000 after purchasing an additional 2,213,167 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of Bloom Energy during the 3rd quarter worth about $1,567,000. Vanguard Group Inc. boosted its stake in shares of Bloom Energy by 9.3% during the 3rd quarter. Vanguard Group Inc. now owns 19,221,174 shares of the company’s stock worth $254,873,000 after purchasing an additional 1,635,738 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its stake in shares of Bloom Energy by 65.2% during the 3rd quarter. Pinnacle Associates Ltd. now owns 582,039 shares of the company’s stock worth $7,718,000 after purchasing an additional 229,639 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Insiders Place Their Bets

In other Bloom Energy news, insider Shawn Marie Soderberg sold 8,963 shares of Bloom Energy stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $9.86, for a total value of $88,375.18. Following the completion of the transaction, the insider now owns 168,003 shares of the company’s stock, valued at $1,656,509.58. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Shawn Marie Soderberg sold 8,963 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $9.86, for a total transaction of $88,375.18. Following the completion of the transaction, the insider now owns 168,003 shares of the company’s stock, valued at $1,656,509.58. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Kr Sridhar sold 50,746 shares of the business’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 transaction, the chief executive officer now directly owns 2,702,608 shares of the company’s stock, valued at approximately $26,323,401.92. The disclosure for this sale can be found here. Insiders sold a total of 74,989 shares of company stock valued at $725,292 over the last 90 days. 3.50% of the stock is owned by company insiders.

Bloom Energy Stock Down 0.8 %

BE stock opened at $9.80 on Thursday. Bloom Energy Co. has a twelve month low of $8.41 and a twelve month high of $18.77. The company has a current ratio of 3.60, a quick ratio of 2.53 and a debt-to-equity ratio of 2.41. The company has a market capitalization of $2.20 billion, a P/E ratio of -6.76 and a beta of 2.79. The firm has a 50 day simple moving average of $10.32 and a 200-day simple moving average of $11.76.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Redburn Atlantic assumed coverage on shares of Bloom Energy in a research note on Tuesday, February 6th. They set a “neutral” rating and a $12.50 price target on the stock. Truist Financial raised shares of Bloom Energy from a “sell” rating to a “hold” rating and raised their price target for the stock from $9.00 to $11.00 in a research note on Wednesday, March 6th. Evercore ISI started coverage on shares of Bloom Energy in a research report on Monday, April 1st. They issued an “outperform” rating and a $21.00 target price on the stock. Royal Bank of Canada decreased their target price on shares of Bloom Energy from $21.00 to $14.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. Finally, Raymond James decreased their target price on shares of Bloom Energy from $20.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Bloom Energy currently has an average rating of “Moderate Buy” and an average price target of $16.69.

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.