Raymond James Financial Services Advisors Inc. cut its holdings in Bloom Energy Co. (NYSE:BE – Get Rating) by 15.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 62,729 shares of the company’s stock after selling 11,299 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Bloom Energy were worth $1,254,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Banco Santander S.A. acquired a new stake in shares of Bloom Energy in the 2nd quarter valued at approximately $1,439,000. Prospera Financial Services Inc boosted its position in Bloom Energy by 61.8% in the second quarter. Prospera Financial Services Inc now owns 51,915 shares of the company’s stock valued at $857,000 after buying an additional 19,836 shares in the last quarter. Banque Pictet & Cie SA grew its stake in shares of Bloom Energy by 65.0% during the second quarter. Banque Pictet & Cie SA now owns 29,531 shares of the company’s stock worth $487,000 after buying an additional 11,634 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Bloom Energy by 452.4% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 64,257 shares of the company’s stock worth $1,060,000 after buying an additional 52,624 shares in the last quarter. Finally, Chilton Capital Management LLC bought a new position in shares of Bloom Energy in the 2nd quarter valued at $132,000. Institutional investors own 79.55% of the company’s stock.
Analyst Upgrades and Downgrades
BE has been the topic of a number of research reports. Morgan Stanley upgraded Bloom Energy from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $37.00 to $35.00 in a research report on Tuesday, January 10th. Truist Financial lowered their price objective on Bloom Energy from $31.00 to $20.00 and set a “hold” rating for the company in a research note on Tuesday, October 18th. BMO Capital Markets dropped their price objective on shares of Bloom Energy from $24.00 to $23.00 and set a “market perform” rating for the company in a report on Friday, November 4th. JPMorgan Chase & Co. reduced their target price on shares of Bloom Energy from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, October 20th. Finally, UBS Group began coverage on shares of Bloom Energy in a research note on Tuesday, December 13th. They set a “buy” rating and a $35.00 price target for the company. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Bloom Energy has an average rating of “Moderate Buy” and an average target price of $29.93.
Bloom Energy Price Performance
Bloom Energy (NYSE:BE – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.12). Bloom Energy had a negative net margin of 26.65% and a negative return on equity of 80,741.48%. The business had revenue of $292.27 million during the quarter, compared to analyst estimates of $277.53 million. On average, analysts expect that Bloom Energy Co. will post -1.14 earnings per share for the current year.
Insider Buying and Selling at Bloom Energy
In other news, EVP Guillermo Brooks sold 1,398 shares of the firm’s stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $18.30, for a total transaction of $25,583.40. Following the completion of the sale, the executive vice president now owns 23,992 shares of the company’s stock, valued at approximately $439,053.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Bloom Energy news, CMO Sharelynn Faye Moore sold 6,181 shares of the business’s stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $21.46, for a total transaction of $132,644.26. Following the completion of the sale, the chief marketing officer now owns 43,280 shares in the company, valued at approximately $928,788.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Guillermo Brooks sold 1,398 shares of the stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $18.30, for a total value of $25,583.40. Following the completion of the sale, the executive vice president now directly owns 23,992 shares of the company’s stock, valued at $439,053.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,822 shares of company stock valued at $1,410,274. 2.78% of the stock is currently owned by company insiders.
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 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.
- Get a free copy of the StockNews.com research report on Bloom Energy (BE)
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