Raymond James Financial Services Advisors Inc. Has $710,000 Stock Position in Bloom Energy Co. (NYSE:BE)

Raymond James Financial Services Advisors Inc. reduced its position in shares of Bloom Energy Co. (NYSE:BE) by 15.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,991 shares of the company’s stock after selling 9,097 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Bloom Energy were worth $710,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BE. Bank of New York Mellon Corp raised its position in Bloom Energy by 13.0% during the first quarter. Bank of New York Mellon Corp now owns 566,033 shares of the company’s stock valued at $13,669,000 after purchasing an additional 64,919 shares in the last quarter. AlphaCrest Capital Management LLC acquired a new position in shares of Bloom Energy during the first quarter worth $337,000. Bank of Montreal Can increased its holdings in shares of Bloom Energy by 8.1% during the first quarter. Bank of Montreal Can now owns 63,498 shares of the company’s stock worth $1,559,000 after buying an additional 4,781 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Bloom Energy by 53.5% during the first quarter. MetLife Investment Management LLC now owns 76,115 shares of the company’s stock worth $1,838,000 after buying an additional 26,537 shares in the last quarter. Finally, Panagora Asset Management Inc. acquired a new position in shares of Bloom Energy during the first quarter worth $1,016,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Price Performance

BE stock opened at $9.86 on Wednesday. The stock has a market capitalization of $2.22 billion, a PE ratio of -6.80 and a beta of 2.79. The company’s 50-day moving average is $10.38 and its 200-day moving average is $11.79. The company has a debt-to-equity ratio of 2.41, a current ratio of 3.60 and a quick ratio of 2.53. Bloom Energy Co. has a 1 year low of $8.41 and a 1 year high of $18.77.

Bloom Energy (NYSE:BE) last released its quarterly earnings data on Thursday, February 15th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. The company had revenue of $356.92 million for the quarter, compared to analysts’ expectations of $481.90 million. Bloom Energy had a negative net margin of 22.66% and a negative return on equity of 23.88%. Equities research analysts expect that Bloom Energy Co. will post -0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Evercore ISI assumed coverage on shares of Bloom Energy in a report on Monday, April 1st. They set an “outperform” rating and a $21.00 price target for the company. Royal Bank of Canada lowered their price target on shares of Bloom Energy from $21.00 to $14.00 and set an “outperform” rating for the company in a report on Friday, February 16th. KeyCorp downgraded shares of Bloom Energy from an “overweight” rating to a “sector weight” rating in a report on Friday, February 16th. Piper Sandler reduced their price objective on shares of Bloom Energy from $14.00 to $11.00 and set a “neutral” rating on the stock in a research note on Friday, February 16th. Finally, Susquehanna reduced their price objective on shares of Bloom Energy from $18.00 to $16.00 and set a “positive” rating on the stock in a research note on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Bloom Energy has a consensus rating of “Moderate Buy” and an average target price of $16.69.

Insider Transactions at Bloom Energy

In related news, EVP Shawn Marie Soderberg sold 13,120 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were 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 in the company, valued at approximately $690,655.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Bloom Energy news, EVP Shawn Marie Soderberg sold 13,120 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $9.34, for a total value of $122,540.80. Following the completion of the sale, the executive vice president now owns 73,946 shares in the company, valued at approximately $690,655.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Kr Sridhar sold 50,746 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $9.74, for a total transaction of $494,266.04. Following the completion of the sale, the chief executive officer now owns 2,702,608 shares of the company’s stock, valued at approximately $26,323,401.92. The disclosure for this sale can be found here. Insiders have sold 66,026 shares of company stock valued at $636,916 in the last 90 days. 3.50% of the stock is currently owned by corporate 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 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.