M&T Bank Corp Increases Stock Holdings in Bloom Energy Co. (NYSE:BE)

M&T Bank Corp raised its holdings in Bloom Energy Co. (NYSE:BE) by 17.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,073 shares of the company’s stock after buying an additional 2,343 shares during the quarter. M&T Bank Corp’s holdings in Bloom Energy were worth $238,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Deutsche Bank AG raised its stake in shares of Bloom Energy by 6.2% during the 3rd quarter. Deutsche Bank AG now owns 971,194 shares of the company’s stock worth $12,878,000 after buying an additional 57,090 shares during the period. FMR LLC lifted its stake in Bloom Energy by 168.8% in the 3rd quarter. FMR LLC now owns 3,524,361 shares of the company’s stock valued at $46,733,000 after buying an additional 2,213,167 shares in the last quarter. Dark Forest Capital Management LP acquired a new position in shares of Bloom Energy during the third quarter valued at approximately $1,567,000. Vanguard Group Inc. lifted its position in shares of Bloom Energy by 9.3% in the third quarter. Vanguard Group Inc. now owns 19,221,174 shares of the company’s stock valued at $254,873,000 after acquiring an additional 1,635,738 shares in the last quarter. Finally, Natixis Advisors L.P. boosted its stake in shares of Bloom Energy by 41.2% in the third quarter. Natixis Advisors L.P. now owns 41,208 shares of the company’s stock worth $546,000 after acquiring an additional 12,017 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Insider Transactions at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 8,963 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $9.86, for a total transaction of $88,375.18. Following the completion of the sale, the insider now owns 168,003 shares in the company, valued at approximately $1,656,509.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Shawn Marie Soderberg sold 8,963 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $9.86, for a total transaction of $88,375.18. Following the transaction, the insider now owns 168,003 shares in the company, valued at approximately $1,656,509.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eddy Zervigon sold 28,150 shares of Bloom Energy stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $12.86, for a total value of $362,009.00. Following the transaction, the director now directly owns 111,161 shares in the company, valued at approximately $1,429,530.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 131,291 shares of company stock valued at $1,457,413. 8.81% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BE shares. Susquehanna reduced their target price on shares of Bloom Energy from $18.00 to $16.00 and set a “positive” rating for the company in a research report on Wednesday, March 27th. TD Cowen raised their price target on shares of Bloom Energy from $10.00 to $13.00 and gave the stock a “hold” rating in a report on Friday, May 10th. BMO Capital Markets lowered their price objective on Bloom Energy from $11.00 to $10.00 and set a “market perform” rating for the company in a research report on Friday, February 16th. BTIG Research began coverage on Bloom Energy in a research report on Thursday, January 25th. They issued a “buy” rating and a $21.00 target price on the stock. Finally, Bank of America cut shares of Bloom Energy from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $16.00 to $10.00 in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $15.74.

Bloom Energy Stock Up 0.8 %

BE stock opened at $12.33 on Friday. The company’s 50 day moving average price is $10.85 and its 200 day moving average price is $11.72. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of -9.13 and a beta of 2.77. Bloom Energy Co. has a fifty-two week low of $8.41 and a fifty-two week high of $18.76. The company has a debt-to-equity ratio of 2.56, a quick ratio of 2.97 and a current ratio of 4.45.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). The firm had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $254.06 million. Bloom Energy had a negative net margin of 22.27% and a negative return on equity of 19.32%. On average, equities research analysts anticipate that Bloom Energy Co. will post -0.15 EPS for the current fiscal year.

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.