Harel Insurance Investments & Financial Services Ltd. Sells 7,329 Shares of Bloom Energy Co. (NYSE:BE)

Harel Insurance Investments & Financial Services Ltd. decreased its holdings in shares of Bloom Energy Co. (NYSE:BE) by 22.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,384 shares of the company’s stock after selling 7,329 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Bloom Energy were worth $376,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Piper Sandler lowered their price target on shares of Bloom Energy from $14.00 to $11.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. Morgan Stanley reissued an “overweight” rating and issued a $22.00 price target on shares of Bloom Energy in a research report on Monday, March 25th. BTIG Research began coverage on Bloom Energy in a report on Thursday, January 25th. They set a “buy” rating and a $21.00 price objective on the stock. Susquehanna dropped their target price on Bloom Energy from $18.00 to $16.00 and set a “positive” rating for the company in a report on Wednesday, March 27th. Finally, Robert W. Baird raised Bloom Energy from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $16.00 to $22.00 in a research note on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.69.

Insider Activity

In other Bloom Energy news, EVP Shawn Marie Soderberg sold 13,120 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $9.34, for a total transaction of $122,540.80. Following the sale, the executive vice president now directly owns 73,946 shares in the company, valued at approximately $690,655.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Bloom Energy news, EVP Shawn Marie Soderberg sold 13,120 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $9.34, for a total transaction of $122,540.80. Following the completion of the transaction, the executive vice president now owns 73,946 shares in the company, valued at approximately $690,655.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kr Sridhar sold 50,746 shares of the stock in a transaction dated 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 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. Insiders have sold 67,782 shares of company stock worth $658,463 in the last 90 days. Corporate insiders own 3.50% of the company’s stock.

Bloom Energy Trading Up 0.7 %

Shares of Bloom Energy stock opened at $10.81 on Monday. The firm has a 50 day simple moving average of $10.40 and a 200 day simple moving average of $11.81. 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 fifty-two week low of $8.41 and a fifty-two week high of $18.77.

Bloom Energy (NYSE:BE) last issued its earnings results on Thursday, February 15th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.11. The firm had revenue of $356.92 million during the quarter, compared to the consensus estimate of $481.90 million. Bloom Energy had a negative net margin of 22.66% and a negative return on equity of 23.88%. On average, analysts anticipate that Bloom Energy Co. will post -0.17 earnings per share for the current fiscal 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.