Avalon Trust Co Reduces Stock Position in Bloom Energy Corporation $BE

Avalon Trust Co lowered its stake in shares of Bloom Energy Corporation (NYSE:BE) by 4.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 684,792 shares of the company’s stock after selling 28,515 shares during the quarter. Bloom Energy makes up about 1.2% of Avalon Trust Co’s holdings, making the stock its 21st biggest position. Avalon Trust Co owned 0.29% of Bloom Energy worth $16,380,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in BE. Envestnet Asset Management Inc. grew its position in Bloom Energy by 43.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 24,965 shares of the company’s stock worth $491,000 after purchasing an additional 7,540 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Bloom Energy by 47.2% in the first quarter. Nisa Investment Advisors LLC now owns 3,373 shares of the company’s stock valued at $66,000 after buying an additional 1,081 shares during the last quarter. Xponance Inc. increased its stake in shares of Bloom Energy by 6.4% during the 1st quarter. Xponance Inc. now owns 15,484 shares of the company’s stock valued at $304,000 after acquiring an additional 935 shares during the last quarter. CWM LLC grew its position in Bloom Energy by 23.7% during the first quarter. CWM LLC now owns 3,360 shares of the company’s stock valued at $66,000 after acquiring an additional 644 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Bloom Energy by 0.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 706,079 shares of the company’s stock valued at $13,882,000 after acquiring an additional 2,693 shares in the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BE shares. Morgan Stanley boosted their price objective on Bloom Energy to $155.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. BTIG Research increased their price target on Bloom Energy to $145.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. UBS Group upped their price objective on shares of Bloom Energy to $115.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Susquehanna increased their price objective on Bloom Energy to $157.00 and gave the company a “positive” rating in a report on Wednesday, October 29th. Finally, Roth Capital reissued a “neutral” rating and issued a $103.00 price target on shares of Bloom Energy in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Bloom Energy currently has a consensus rating of “Hold” and a consensus price target of $95.65.

Insider Activity

In other news, insider Shawn Marie Soderberg sold 36,666 shares of Bloom Energy stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $141.00, for a total transaction of $5,169,906.00. Following the transaction, the insider owned 225,949 shares in the company, valued at approximately $31,858,809. The trade was a 13.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Satish Chitoori sold 400 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $71.16, for a total value of $28,464.00. Following the completion of the transaction, the insider directly owned 231,965 shares in the company, valued at approximately $16,506,629.40. This trade represents a 0.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 332,065 shares of company stock valued at $26,675,662. 3.60% of the stock is currently owned by company insiders.

Bloom Energy Price Performance

Shares of NYSE BE opened at $126.80 on Thursday. The business has a 50-day moving average of $96.36 and a 200-day moving average of $52.11. Bloom Energy Corporation has a fifty-two week low of $12.78 and a fifty-two week high of $147.86. The stock has a market capitalization of $29.99 billion, a price-to-earnings ratio of 705.94, a PEG ratio of 71.60 and a beta of 3.43. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 2.88.

Bloom Energy (NYSE:BE) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.08 by $0.07. The firm had revenue of $519.05 million for the quarter, compared to the consensus estimate of $425.18 million. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The company’s quarterly revenue was up 57.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.01) earnings per share. As a group, sell-side analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

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.