KBC Group NV Sells 88,663 Shares of Bloom Energy Corporation (NYSE:BE)

KBC Group NV reduced its position in shares of Bloom Energy Corporation (NYSE:BE) by 41.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 127,745 shares of the company’s stock after selling 88,663 shares during the period. KBC Group NV owned approximately 0.06% of Bloom Energy worth $2,511,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in BE. Arizona State Retirement System grew its position in shares of Bloom Energy by 1.3% during the 4th quarter. Arizona State Retirement System now owns 59,592 shares of the company’s stock worth $1,324,000 after purchasing an additional 759 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Bloom Energy by 120.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after purchasing an additional 812 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Bloom Energy by 291.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after purchasing an additional 934 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of Bloom Energy by 1.7% during the 4th quarter. Mackenzie Financial Corp now owns 63,372 shares of the company’s stock worth $1,407,000 after purchasing an additional 1,035 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Bloom Energy during the 4th quarter worth approximately $35,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Bloom Energy Stock Performance

NYSE BE opened at $24.24 on Friday. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of -484.70 and a beta of 3.22. Bloom Energy Corporation has a twelve month low of $9.02 and a twelve month high of $29.83. The stock has a fifty day simple moving average of $20.13 and a 200 day simple moving average of $21.73. The company has a quick ratio of 2.39, a current ratio of 3.44 and a debt-to-equity ratio of 2.07.

Bloom Energy (NYSE:BE) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.10. The business had revenue of $326.02 million during the quarter, compared to the consensus estimate of $294.27 million. Bloom Energy had a return on equity of 2.51% and a net margin of 0.29%. Bloom Energy’s quarterly revenue was up 38.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.17) earnings per share. Sell-side analysts expect that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insider Buying and Selling at Bloom Energy

In other news, insider Satish Chitoori sold 2,038 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $19.73, for a total transaction of $40,209.74. Following the transaction, the insider owned 176,618 shares of the company’s stock, valued at $3,484,673.14. This represents a 1.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kr Sridhar sold 42,383 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $19.14, for a total transaction of $811,210.62. Following the transaction, the chief executive officer directly owned 2,724,613 shares in the company, valued at $52,149,092.82. This trade represents a 1.53% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,501 shares of company stock valued at $1,236,191. 3.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on BE shares. Roth Mkm decreased their target price on shares of Bloom Energy from $26.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Hsbc Global Res upgraded shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Redburn Atlantic downgraded shares of Bloom Energy from a “neutral” rating to a “sell” rating and cut their price target for the stock from $14.50 to $10.00 in a report on Wednesday, April 9th. Royal Bank Of Canada set a $26.00 price target on shares of Bloom Energy in a report on Monday, April 14th. Finally, Piper Sandler cut their price target on shares of Bloom Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bloom Energy currently has an average rating of “Moderate Buy” and a consensus price target of $22.97.

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.