Bayesian Capital Management LP Cuts Holdings in Bloom Energy Co. (NYSE:BE)

Bayesian Capital Management LP trimmed its holdings in shares of Bloom Energy Co. (NYSE:BE) by 37.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,557 shares of the company’s stock after selling 19,696 shares during the period. Bayesian Capital Management LP’s holdings in Bloom Energy were worth $377,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Tsfg LLC increased its stake in Bloom Energy by 11.1% in the 4th quarter. Tsfg LLC now owns 10,006 shares of the company’s stock valued at $148,000 after purchasing an additional 1,000 shares in the last quarter. Millburn Ridgefield Corp increased its position in Bloom Energy by 64.0% during the first quarter. Millburn Ridgefield Corp now owns 3,296 shares of the company’s stock worth $37,000 after buying an additional 1,286 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in Bloom Energy by 9.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,299 shares of the company’s stock worth $226,000 after buying an additional 1,308 shares in the last quarter. Tocqueville Asset Management L.P. increased its position in Bloom Energy by 3.1% during the first quarter. Tocqueville Asset Management L.P. now owns 59,250 shares of the company’s stock worth $666,000 after buying an additional 1,800 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Bloom Energy by 10.6% during the fourth quarter. Principal Financial Group Inc. now owns 22,294 shares of the company’s stock worth $330,000 after purchasing an additional 2,139 shares during the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Bloom Energy news, insider Shawn Marie Soderberg sold 2,094 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $14.53, for a total transaction of $30,425.82. Following the transaction, the insider now directly owns 168,867 shares of the company’s stock, valued at $2,453,637.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Shawn Marie Soderberg sold 2,094 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $14.53, for a total value of $30,425.82. Following the sale, the insider now directly owns 168,867 shares of the company’s stock, valued at $2,453,637.51. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Kr Sridhar sold 40,112 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $11.93, for a total transaction of $478,536.16. Following the completion of the sale, the chief executive officer now owns 2,742,496 shares of the company’s stock, valued at approximately $32,717,977.28. The disclosure for this sale can be found here. Insiders have sold 71,516 shares of company stock valued at $885,088 over the last three months. 8.81% of the stock is currently owned by insiders.

Bloom Energy Stock Up 2.8 %

Shares of NYSE BE traded up $0.36 during trading on Wednesday, hitting $13.43. The company had a trading volume of 322,757 shares, compared to its average volume of 6,169,900. Bloom Energy Co. has a 52 week low of $8.41 and a 52 week high of $18.16. The business’s 50-day moving average is $14.21 and its 200 day moving average is $12.05. The company has a debt-to-equity ratio of 2.56, a current ratio of 4.45 and a quick ratio of 2.97.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The company had revenue of $235.30 million during the quarter, compared to the consensus estimate of $254.06 million. Bloom Energy had a negative net margin of 22.27% and a negative return on equity of 19.32%. As a group, research analysts forecast that Bloom Energy Co. will post -0.26 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BE shares. BTIG Research lifted their target price on Bloom Energy from $19.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $15.00 price objective on shares of Bloom Energy in a research report on Thursday, June 20th. Piper Sandler raised their price objective on Bloom Energy from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. TD Cowen raised their price objective on Bloom Energy from $10.00 to $13.00 and gave the company a “hold” rating in a research report on Friday, May 10th. Finally, Evercore ISI dropped their target price on Bloom Energy from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Bloom Energy presently has a consensus rating of “Hold” and an average price target of $15.64.

Bloom Energy 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.