Bloom Energy Co. (NYSE:BE) Shares Acquired by Flputnam Investment Management Co.

Flputnam Investment Management Co. raised its stake in shares of Bloom Energy Co. (NYSE:BE) by 57.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 157,676 shares of the company’s stock after purchasing an additional 57,397 shares during the period. Flputnam Investment Management Co.’s holdings in Bloom Energy were worth $2,334,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Millburn Ridgefield Corp acquired a new position in shares of Bloom Energy in the third quarter valued at approximately $33,000. Quantbot Technologies LP grew its holdings in shares of Bloom Energy by 27.8% in the first quarter. Quantbot Technologies LP now owns 4,673 shares of the company’s stock valued at $112,000 after purchasing an additional 1,017 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Bloom Energy in the first quarter valued at approximately $123,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Bloom Energy by 17.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the company’s stock valued at $102,000 after purchasing an additional 1,117 shares in the last quarter. Finally, Chilton Capital Management LLC acquired a new position in shares of Bloom Energy in the first quarter valued at approximately $159,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Stock Performance

BE stock opened at $9.86 on Wednesday. The company has a fifty day moving average price of $10.38 and a 200 day moving average price of $11.79. Bloom Energy Co. has a 12 month low of $8.41 and a 12 month high of $18.77. The company has a current ratio of 3.60, a quick ratio of 2.53 and a debt-to-equity ratio of 2.41.

Bloom Energy (NYSE:BE) last released its quarterly 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. Bloom Energy had a negative net margin of 22.66% and a negative return on equity of 23.88%. The firm had revenue of $356.92 million during the quarter, compared to the consensus estimate of $481.90 million. Equities research analysts anticipate that Bloom Energy Co. will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 50,746 shares of the business’s stock in a transaction on Monday, March 18th. The shares were 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 approximately $26,323,401.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Shawn Marie Soderberg sold 13,120 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 73,946 shares of the company’s stock, valued at approximately $690,655.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Kr Sridhar sold 50,746 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 2,702,608 shares in the company, valued at $26,323,401.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,026 shares of company stock valued at $636,916. 3.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BE has been the subject of a number of recent research reports. Raymond James decreased their price target on shares of Bloom Energy from $20.00 to $16.00 and set an “outperform” rating for the company in a research note on Friday, February 16th. JPMorgan Chase & Co. downgraded shares of Bloom Energy from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $19.00 to $14.00 in a research note on Friday, February 16th. Morgan Stanley reiterated an “overweight” rating and issued a $22.00 price target on shares of Bloom Energy in a research note on Monday, March 25th. KeyCorp downgraded shares of Bloom Energy from an “overweight” rating to a “sector weight” rating in a research note on Friday, February 16th. Finally, Truist Financial upgraded shares of Bloom Energy from a “sell” rating to a “hold” rating and lifted their price target for the stock from $9.00 to $11.00 in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bloom Energy has a consensus rating of “Moderate Buy” and a consensus target price of $16.69.

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.