Bloom Energy Co. (NYSE:BE) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its holdings in Bloom Energy Co. (NYSE:BE) by 49.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,775 shares of the company’s stock after selling 1,705 shares during the period. Nisa Investment Advisors LLC’s holdings in Bloom Energy were worth $26,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of BE. Vanguard Group Inc. lifted its stake 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 buying an additional 1,635,738 shares during the last quarter. FMR LLC lifted its position in Bloom Energy by 168.8% in the 3rd quarter. FMR LLC now owns 3,524,361 shares of the company’s stock valued at $46,733,000 after purchasing an additional 2,213,167 shares during the last quarter. Northern Trust Corp boosted its stake in Bloom Energy by 3.8% during the 3rd quarter. Northern Trust Corp now owns 1,920,938 shares of the company’s stock valued at $25,472,000 after purchasing an additional 70,248 shares during the period. Charles Schwab Investment Management Inc. grew its position in Bloom Energy by 7.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,578,670 shares of the company’s stock worth $20,933,000 after purchasing an additional 113,430 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Bloom Energy by 22.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,558,252 shares of the company’s stock valued at $20,662,000 after purchasing an additional 283,333 shares during the period. Institutional investors own 77.04% of the company’s stock.

Analyst Ratings Changes

BE has been the subject of several analyst reports. Evercore ISI assumed coverage on Bloom Energy in a research report on Monday, April 1st. They set an “outperform” rating and a $21.00 price objective for the company. BTIG Research began coverage on shares of Bloom Energy in a research note on Thursday, January 25th. They set a “buy” rating and a $21.00 price objective on the stock. Bank of America lowered shares of Bloom Energy from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $16.00 to $10.00 in a research report on Monday, January 29th. Truist Financial upgraded shares of Bloom Energy from a “sell” rating to a “hold” rating and boosted their price target for the stock from $9.00 to $11.00 in a research report on Wednesday, March 6th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $22.00 price objective on shares of Bloom Energy in a research note on Monday, March 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $16.69.

Insider Activity

In other news, EVP Shawn Marie Soderberg sold 13,120 shares of Bloom Energy stock in a transaction on Friday, February 16th. The stock was sold at an average price of $9.34, for a total transaction of $122,540.80. Following the transaction, the executive vice president now owns 73,946 shares in the company, valued at $690,655.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Kr Sridhar sold 50,746 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $9.74, for a total transaction of $494,266.04. Following the transaction, the chief executive officer now directly owns 2,702,608 shares in the company, valued at approximately $26,323,401.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Shawn Marie Soderberg sold 13,120 shares of the stock in a transaction 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 sale, 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 have sold 74,989 shares of company stock worth $725,292 over the last 90 days. 3.50% of the stock is owned by company insiders.

Bloom Energy Stock Performance

Shares of NYSE BE opened at $9.33 on Tuesday. The stock’s fifty day simple moving average is $10.19 and its 200 day simple moving average is $11.72. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of -6.43 and a beta of 2.79. The company has a quick ratio of 2.53, a current ratio of 3.60 and a debt-to-equity ratio of 2.41. Bloom Energy Co. has a 52-week low of $8.41 and a 52-week high of $18.76.

Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.05 earnings per share for the quarter, topping 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 firm had revenue of $356.92 million for the quarter, compared to analysts’ expectations of $481.90 million. As a group, sell-side analysts forecast that Bloom Energy Co. will post -0.17 earnings per share for the current fiscal year.

About Bloom Energy

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.