CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Lowers Position in Bloom Energy Corporation $BE

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT trimmed its position in shares of Bloom Energy Corporation (NYSE:BE) by 53.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,000 shares of the company’s stock after selling 213,000 shares during the quarter. Bloom Energy makes up about 0.9% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s portfolio, making the stock its 27th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.08% of Bloom Energy worth $15,815,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Bloom Energy during the second quarter valued at $57,821,000. Man Group plc boosted its stake in shares of Bloom Energy by 177.4% during the 2nd quarter. Man Group plc now owns 2,392,915 shares of the company’s stock worth $57,239,000 after acquiring an additional 1,530,167 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Bloom Energy by 50.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company’s stock valued at $49,127,000 after acquiring an additional 836,810 shares during the period. Qube Research & Technologies Ltd purchased a new position in shares of Bloom Energy in the 2nd quarter valued at about $18,808,000. Finally, Eschler Asset Management LLP acquired a new position in Bloom Energy in the 2nd quarter worth about $15,735,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Bloom Energy Trading Down 1.4%

Shares of BE opened at $87.21 on Wednesday. Bloom Energy Corporation has a 52-week low of $15.15 and a 52-week high of $147.86. The company has a quick ratio of 2.88, a current ratio of 4.40 and a debt-to-equity ratio of 1.98. The firm’s fifty day moving average is $106.93 and its two-hundred day moving average is $71.31. The stock has a market cap of $20.63 billion, a PE ratio of 501.00, a price-to-earnings-growth ratio of 55.84 and a beta of 3.00.

Bloom Energy (NYSE:BE) last issued its earnings results on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. The business had revenue of $519.05 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.01) earnings per share. Research analysts forecast that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on BE shares. BMO Capital Markets set a $136.00 price objective on Bloom Energy in a report on Wednesday, October 29th. Hsbc Global Res raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. Morgan Stanley upped their price objective on shares of Bloom Energy to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Susquehanna increased their price objective on shares of Bloom Energy to $157.00 and gave the company a “positive” rating in a report on Wednesday, October 29th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $123.00 target price on shares of Bloom Energy in a research note on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Bloom Energy currently has an average rating of “Hold” and an average price target of $93.77.

Insider Buying and Selling

In other Bloom Energy news, Director Jim H. Snabe sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $143.04, for a total value of $2,860,800.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Aman Joshi sold 4,543 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $109.13, for a total value of $495,777.59. Following the completion of the sale, the insider owned 219,818 shares of the company’s stock, valued at $23,988,738.34. This trade represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 120,410 shares of company stock worth $16,557,185 in the last 90 days. Corporate insiders own 3.50% of the company’s stock.

About Bloom Energy

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.