NewEdge Wealth LLC Buys New Holdings in Bloom Energy Co. (NYSE:BE)

NewEdge Wealth LLC bought a new stake in Bloom Energy Co. (NYSE:BE) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 13,265 shares of the company’s stock, valued at approximately $196,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BE. BlackRock Inc. raised its position in Bloom Energy by 1.3% in the first quarter. BlackRock Inc. now owns 21,141,205 shares of the company’s stock valued at $421,344,000 after purchasing an additional 263,507 shares during the period. Vanguard Group Inc. raised its position in Bloom Energy by 9.3% in the third quarter. Vanguard Group Inc. now owns 19,221,174 shares of the company’s stock valued at $254,873,000 after purchasing an additional 1,635,738 shares during the period. Norges Bank purchased a new position in Bloom Energy in the fourth quarter valued at about $102,826,000. State Street Corp raised its position in Bloom Energy by 2.8% in the first quarter. State Street Corp now owns 4,586,967 shares of the company’s stock valued at $91,417,000 after purchasing an additional 125,720 shares during the period. Finally, Clearbridge Investments LLC raised its position in Bloom Energy by 21.7% in the first quarter. Clearbridge Investments LLC now owns 3,840,712 shares of the company’s stock valued at $92,753,000 after purchasing an additional 685,213 shares during the period. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Stock Down 0.5 %

NYSE:BE opened at $9.75 on Friday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 2.53 and a current ratio of 3.60. The stock has a 50-day simple moving average of $10.32 and a 200 day simple moving average of $11.76. Bloom Energy Co. has a one year low of $8.41 and a one year high of $18.76. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of -6.72 and a beta of 2.79.

Bloom Energy (NYSE:BE) last issued its earnings results on Thursday, February 15th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. Bloom Energy had a negative return on equity of 23.88% and a negative net margin of 22.66%. The company had revenue of $356.92 million during the quarter, compared to the consensus estimate of $481.90 million. Sell-side analysts predict that Bloom Energy Co. will post -0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Evercore ISI assumed coverage on Bloom Energy in a research report on Monday, April 1st. They issued an “outperform” rating and a $21.00 price objective on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $22.00 target price on shares of Bloom Energy in a research report on Monday, March 25th. JPMorgan Chase & Co. lowered Bloom Energy from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $19.00 to $14.00 in a research report on Friday, February 16th. Susquehanna dropped their target price on Bloom Energy from $18.00 to $16.00 and set a “positive” rating on the stock in a research report on Wednesday, March 27th. Finally, Robert W. Baird raised Bloom Energy from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $16.00 to $22.00 in a research report on Wednesday, January 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.69.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, EVP Shawn Marie Soderberg sold 13,120 shares of Bloom Energy stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $9.34, for a total value of $122,540.80. Following the completion of the transaction, the executive vice president now directly owns 73,946 shares in the company, valued at $690,655.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Kr Sridhar sold 50,746 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $9.74, for a total transaction of $494,266.04. Following the completion of the transaction, the chief executive officer now directly owns 2,702,608 shares in the company, valued at $26,323,401.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Shawn Marie Soderberg sold 13,120 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $9.34, for a total value of $122,540.80. Following the transaction, the executive vice president now owns 73,946 shares of the company’s stock, valued at $690,655.64. The disclosure for this sale can be found here. Insiders sold a total of 74,989 shares of company stock worth $725,292 over the last ninety days. Company insiders own 8.81% of the company’s stock.

Bloom Energy Company 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.