Electron Capital Partners LLC Acquires New Shares in Bloom Energy Co. (NYSE:BE)

Electron Capital Partners LLC bought a new position in shares of Bloom Energy Co. (NYSE:BEFree Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,878,129 shares of the company’s stock, valued at approximately $27,796,000. Bloom Energy makes up 1.2% of Electron Capital Partners LLC’s investment portfolio, making the stock its 26th biggest holding.

Several other large investors also recently bought and sold shares of BE. Tsfg LLC grew its holdings in shares of Bloom Energy by 11.1% during the fourth quarter. Tsfg LLC now owns 10,006 shares of the company’s stock worth $148,000 after buying an additional 1,000 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Bloom Energy by 9.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,299 shares of the company’s stock valued at $226,000 after acquiring an additional 1,308 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Bloom Energy by 10.6% in the 4th quarter. Principal Financial Group Inc. now owns 22,294 shares of the company’s stock valued at $330,000 after acquiring an additional 2,139 shares during the last quarter. Robertson Stephens Wealth Management LLC boosted its holdings in shares of Bloom Energy by 21.3% during the third quarter. Robertson Stephens Wealth Management LLC now owns 13,293 shares of the company’s stock worth $176,000 after purchasing an additional 2,334 shares during the last quarter. Finally, M&T Bank Corp grew its position in shares of Bloom Energy by 17.1% in the fourth quarter. M&T Bank Corp now owns 16,073 shares of the company’s stock valued at $238,000 after purchasing an additional 2,343 shares during the period. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Stock Down 5.1 %

BE stock traded down $0.77 during trading on Friday, reaching $14.33. The stock had a trading volume of 5,936,761 shares, compared to its average volume of 9,158,176. The company has a debt-to-equity ratio of 2.56, a quick ratio of 2.97 and a current ratio of 4.45. The firm has a fifty day moving average price of $12.83 and a 200 day moving average price of $12.25. Bloom Energy Co. has a 1-year low of $8.41 and a 1-year high of $18.76.

Bloom Energy (NYSE:BEGet Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.09). Bloom Energy had a negative return on equity of 19.32% and a negative net margin of 22.27%. The business had revenue of $235.30 million during the quarter, compared to analyst estimates of $254.06 million. As a group, sell-side analysts expect that Bloom Energy Co. will post -0.26 EPS for the current year.

Insider Activity

In other Bloom Energy news, Director Eddy Zervigon sold 28,150 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $12.86, for a total transaction of $362,009.00. Following the completion of the transaction, the director now directly owns 111,161 shares of the company’s stock, valued at approximately $1,429,530.46. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Bloom Energy news, Director Eddy Zervigon sold 28,150 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $12.86, for a total transaction of $362,009.00. Following the transaction, the director now owns 111,161 shares of the company’s stock, valued at approximately $1,429,530.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Kr Sridhar sold 50,746 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $9.74, for a total value of $494,266.04. Following the completion of the sale, the chief executive officer now owns 2,702,608 shares of the company’s stock, valued at $26,323,401.92. The disclosure for this sale can be found here. In the last three months, insiders sold 131,291 shares of company stock worth $1,457,413. 8.81% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BE has been the topic of a number of research analyst reports. TD Cowen raised their price target on Bloom Energy from $10.00 to $13.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Truist Financial raised shares of Bloom Energy from a “sell” rating to a “hold” rating and increased their price target for the stock from $9.00 to $11.00 in a research note on Wednesday, March 6th. Royal Bank of Canada upped their price objective on Bloom Energy from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Wednesday. Morgan Stanley reiterated an “overweight” rating and issued a $22.00 target price on shares of Bloom Energy in a report on Monday, March 25th. Finally, Wells Fargo & Company raised their price objective on Bloom Energy from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Monday, May 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bloom Energy currently has a consensus rating of “Hold” and an average price target of $15.69.

Check Out Our Latest Stock Report on Bloom Energy

About Bloom Energy

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding BE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bloom Energy Co. (NYSE:BEFree Report).

Institutional Ownership by Quarter for Bloom Energy (NYSE:BE)

Receive News & Ratings for Bloom Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bloom Energy and related companies with MarketBeat.com's FREE daily email newsletter.