Bloom Energy Co. (NYSE:BE) Stake Cut by abrdn plc

abrdn plc cut its stake in Bloom Energy Co. (NYSE:BEGet Rating) by 63.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,053 shares of the company’s stock after selling 61,399 shares during the period. abrdn plc’s holdings in Bloom Energy were worth $885,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Arizona State Retirement System boosted its position in shares of Bloom Energy by 1.8% in the 1st quarter. Arizona State Retirement System now owns 39,934 shares of the company’s stock valued at $964,000 after purchasing an additional 687 shares during the period. Itau Unibanco Holding S.A. lifted its holdings in shares of Bloom Energy by 13.5% during the 4th quarter. Itau Unibanco Holding S.A. now owns 7,047 shares of the company’s stock valued at $154,000 after buying an additional 840 shares during the last quarter. Flputnam Investment Management Co. lifted its holdings in shares of Bloom Energy by 8.0% during the 4th quarter. Flputnam Investment Management Co. now owns 11,597 shares of the company’s stock valued at $254,000 after buying an additional 863 shares during the last quarter. Slow Capital Inc. lifted its holdings in shares of Bloom Energy by 1.4% during the 1st quarter. Slow Capital Inc. now owns 85,487 shares of the company’s stock valued at $2,065,000 after buying an additional 1,191 shares during the last quarter. Finally, Patten Group Inc. lifted its holdings in shares of Bloom Energy by 12.4% during the 1st quarter. Patten Group Inc. now owns 11,702 shares of the company’s stock valued at $283,000 after buying an additional 1,293 shares during the last quarter. 65.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on BE. JPMorgan Chase & Co. raised their price objective on Bloom Energy from $27.00 to $29.00 in a research note on Wednesday, July 20th. KeyCorp reissued an “overweight” rating and set a $30.00 price objective on shares of Bloom Energy in a report on Thursday, June 2nd. Truist Financial boosted their price target on Bloom Energy to $19.00 in a research note on Friday, May 27th. Susquehanna Bancshares dropped their target price on Bloom Energy from $33.00 to $28.00 in a research report on Tuesday, May 10th. Finally, Susquehanna dropped their price objective on Bloom Energy from $33.00 to $28.00 in a report on Tuesday, May 10th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bloom Energy has a consensus rating of “Moderate Buy” and a consensus target price of $25.17.

Insider Buying and Selling

In other news, CEO Kr Sridhar sold 10,937 shares of Bloom Energy stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $16.63, for a total value of $181,882.31. Following the completion of the transaction, the chief executive officer now owns 501,938 shares in the company, valued at $8,347,228.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Guillermo Brooks sold 5,860 shares of Bloom Energy stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $17.03, for a total value of $99,795.80. Following the completion of the transaction, the executive vice president now owns 19,140 shares in the company, valued at $325,954.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kr Sridhar sold 10,937 shares of Bloom Energy stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $16.63, for a total transaction of $181,882.31. Following the completion of the transaction, the chief executive officer now owns 501,938 shares of the company’s stock, valued at approximately $8,347,228.94. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,934 shares of company stock worth $381,721. Insiders own 2.78% of the company’s stock.

Bloom Energy Stock Performance

BE stock opened at $21.40 on Wednesday. The business has a 50-day simple moving average of $17.58 and a two-hundred day simple moving average of $18.73. Bloom Energy Co. has a 52-week low of $11.47 and a 52-week high of $37.01. The company has a market capitalization of $3.81 billion, a P/E ratio of -17.26 and a beta of 3.19.

Bloom Energy (NYSE:BEGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.27). Bloom Energy had a negative return on equity of 738.94% and a negative net margin of 22.25%. The company had revenue of $201.04 million during the quarter, compared to analysts’ expectations of $220.75 million. During the same period last year, the firm posted ($0.17) earnings per share. Bloom Energy’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Bloom Energy Co. will post -0.96 earnings per share for the current fiscal year.

Bloom Energy Company 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.

See Also

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

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