Van ECK Associates Corp Grows Holdings in Bloom Energy Co. (NYSE:BE)

Van ECK Associates Corp increased its stake in shares of Bloom Energy Co. (NYSE:BE) by 16.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 849,579 shares of the company’s stock after purchasing an additional 119,561 shares during the period. Van ECK Associates Corp owned approximately 0.38% of Bloom Energy worth $12,574,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. increased its stake in Bloom Energy by 7.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 34,725 shares of the company’s stock worth $460,000 after purchasing an additional 2,270 shares during the period. Bank of New York Mellon Corp increased its stake in Bloom Energy by 3.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 714,440 shares of the company’s stock worth $9,473,000 after buying an additional 27,096 shares during the period. AM Investment Strategies LLC acquired a new stake in Bloom Energy during the 3rd quarter worth approximately $133,000. Telemus Capital LLC boosted its position in Bloom Energy by 52.4% in the 3rd quarter. Telemus Capital LLC now owns 35,272 shares of the company’s stock valued at $468,000 after buying an additional 12,121 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew 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 worth $20,662,000 after acquiring an additional 283,333 shares in the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Kr Sridhar sold 50,746 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was 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 in the company, valued at $26,323,401.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Bloom Energy news, insider Shawn Marie Soderberg sold 8,963 shares of Bloom Energy stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $9.86, for a total value of $88,375.18. Following the sale, the insider now owns 168,003 shares of the company’s stock, valued at approximately $1,656,509.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kr Sridhar sold 50,746 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $9.74, for a total value of $494,266.04. Following the transaction, the chief executive officer now directly owns 2,702,608 shares of the company’s stock, valued at $26,323,401.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,989 shares of company stock valued at $725,292. 8.81% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on BE. Redburn Atlantic started coverage on Bloom Energy in a report on Tuesday, February 6th. They issued a “neutral” rating and a $12.50 target price for the company. Bank of America downgraded Bloom Energy from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $16.00 to $10.00 in a research report on Monday, January 29th. JPMorgan Chase & Co. cut shares of Bloom Energy from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $19.00 to $14.00 in a report on Friday, February 16th. BTIG Research began coverage on shares of Bloom Energy in a report on Thursday, January 25th. They set a “buy” rating and a $21.00 price target for the company. Finally, KeyCorp lowered shares of Bloom Energy from an “overweight” rating to a “sector weight” rating in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Bloom Energy has a consensus rating of “Moderate Buy” and an average target price of $16.69.

Bloom Energy Stock Performance

Shares of Bloom Energy stock opened at $11.44 on Friday. The firm’s fifty day simple moving average is $10.25 and its 200-day simple moving average is $11.67. Bloom Energy Co. has a 12 month low of $8.41 and a 12 month high of $18.76. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of -7.89 and a beta of 2.77. 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 (NYSE:BE) last announced its earnings results on Thursday, February 15th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. Bloom Energy had a negative net margin of 22.66% and a negative return on equity of 23.88%. The business had revenue of $356.92 million during the quarter, compared to analysts’ expectations of $481.90 million. As a group, equities analysts forecast that Bloom Energy Co. will post -0.16 earnings per share for the current year.

Bloom Energy Company 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.