SG Americas Securities LLC Decreases Position in Bloom Energy Co. (NYSE:BE)

SG Americas Securities LLC decreased its holdings in shares of Bloom Energy Co. (NYSE:BEGet Rating) by 95.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,789 shares of the company’s stock after selling 526,332 shares during the quarter. SG Americas Securities LLC’s holdings in Bloom Energy were worth $516,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BE. Bank of New York Mellon Corp lifted its stake in Bloom Energy by 13.0% during the first quarter. Bank of New York Mellon Corp now owns 566,033 shares of the company’s stock worth $13,669,000 after purchasing an additional 64,919 shares during the last quarter. AlphaCrest Capital Management LLC purchased a new stake in Bloom Energy during the first quarter worth approximately $337,000. Bank of Montreal Can lifted its stake in Bloom Energy by 8.1% during the first quarter. Bank of Montreal Can now owns 63,498 shares of the company’s stock worth $1,559,000 after purchasing an additional 4,781 shares during the last quarter. MetLife Investment Management LLC lifted its stake in Bloom Energy by 53.5% during the first quarter. MetLife Investment Management LLC now owns 76,115 shares of the company’s stock worth $1,838,000 after purchasing an additional 26,537 shares during the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in Bloom Energy during the first quarter worth approximately $1,016,000. Hedge funds and other institutional investors own 79.55% of the company’s stock.

Bloom Energy Trading Down 1.5 %

NYSE:BE opened at $24.99 on Wednesday. The stock’s 50 day simple moving average is $21.21 and its 200-day simple moving average is $21.35. Bloom Energy Co. has a 12-month low of $11.47 and a 12-month high of $31.47. The firm has a market cap of $4.88 billion, a P/E ratio of -15.52 and a beta of 2.84. The company has a current ratio of 2.46, a quick ratio of 1.81 and a debt-to-equity ratio of 4.44.

Bloom Energy (NYSE:BEGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.12). Bloom Energy had a negative return on equity of 80,741.48% and a negative net margin of 26.65%. The business had revenue of $292.27 million for the quarter, compared to analyst estimates of $277.53 million. Equities analysts anticipate that Bloom Energy Co. will post -1.15 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on BE. UBS Group began coverage on Bloom Energy in a research note on Tuesday, December 13th. They set a “buy” rating and a $35.00 target price for the company. JPMorgan Chase & Co. cut their price target on Bloom Energy from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, October 20th. Morgan Stanley raised Bloom Energy from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $37.00 to $35.00 in a research report on Tuesday, January 10th. Truist Financial cut their price target on Bloom Energy from $31.00 to $20.00 and set a “hold” rating on the stock in a research report on Tuesday, October 18th. Finally, Wells Fargo & Company lowered Bloom Energy from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $27.00 to $22.00 in a research report on Friday, January 6th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.93.

Insider Buying and Selling

In related news, CEO Kr Sridhar sold 7,424 shares of the company’s stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $21.45, for a total transaction of $159,244.80. Following the transaction, the chief executive officer now owns 474,514 shares of the company’s stock, valued at $10,178,325.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Kr Sridhar sold 7,424 shares of the company’s stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $21.45, for a total transaction of $159,244.80. Following the transaction, the chief executive officer now owns 474,514 shares of the company’s stock, valued at $10,178,325.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Shawn Marie Soderberg sold 3,254 shares of the business’s stock in a transaction on Friday, December 16th. The stock was sold at an average price of $22.00, for a total value of $71,588.00. Following the sale, the executive vice president now owns 348,123 shares in the company, valued at $7,658,706. The disclosure for this sale can be found here. Insiders have sold 65,387 shares of company stock valued at $1,483,766 over the last quarter. Company insiders own 2.78% of the company’s stock.

Bloom Energy Profile

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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 power generation platform that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels, into electricity through an electrochemical process without combustion.

Further Reading

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

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