Bloom Energy Co. (NYSE:BE) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its position in Bloom Energy Co. (NYSE:BE) by 96.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 26,448 shares of the company’s stock after selling 770,360 shares during the period. Victory Capital Management Inc.’s holdings in Bloom Energy were worth $391,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in BE. Bank of New York Mellon Corp increased its stake in shares of 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 valued at $9,473,000 after acquiring an additional 27,096 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Bloom Energy by 17.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the company’s stock worth $102,000 after purchasing an additional 1,117 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Bloom Energy by 15.0% in the 3rd quarter. California Public Employees Retirement System now owns 288,756 shares of the company’s stock valued at $3,829,000 after purchasing an additional 37,561 shares during the last quarter. Parsons Capital Management Inc. RI purchased a new stake in shares of Bloom Energy during the 3rd quarter valued at $471,000. Finally, Flputnam Investment Management Co. increased its holdings in shares of Bloom Energy by 108.8% during the 3rd quarter. Flputnam Investment Management Co. now owns 100,279 shares of the company’s stock worth $1,330,000 after buying an additional 52,250 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BE. Truist Financial raised Bloom Energy from a “sell” rating to a “hold” rating and boosted their price target for the company from $9.00 to $11.00 in a research report on Wednesday, March 6th. Redburn Atlantic began coverage on shares of Bloom Energy in a research report on Tuesday, February 6th. They set a “neutral” rating and a $12.50 target price for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $14.00 price objective on shares of Bloom Energy in a research report on Tuesday, May 21st. Wells Fargo & Company raised their target price on Bloom Energy from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Monday, May 20th. Finally, Bank of America cut Bloom Energy from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $16.00 to $10.00 in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.64.

Bloom Energy Trading Up 3.6 %

BE opened at $16.29 on Friday. The stock has a market capitalization of $3.70 billion, a PE ratio of -12.07 and a beta of 2.77. The company has a debt-to-equity ratio of 2.56, a current ratio of 4.45 and a quick ratio of 2.97. Bloom Energy Co. has a 12-month low of $8.41 and a 12-month high of $18.76. The firm’s fifty day moving average price is $11.41 and its 200 day moving average price is $11.89.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). Bloom Energy had a negative return on equity of 19.32% and a negative net margin of 22.27%. The firm had revenue of $235.30 million during the quarter, compared to analyst estimates of $254.06 million. As a group, research analysts expect that Bloom Energy Co. will post -0.26 EPS for the current fiscal year.

Insider Transactions at Bloom Energy

In related 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 sale, the chief executive officer now directly owns 2,702,608 shares of the company’s stock, valued at approximately $26,323,401.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 transaction, the chief executive officer now directly owns 2,702,608 shares of the company’s stock, valued at $26,323,401.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shawn Marie Soderberg sold 8,963 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 168,003 shares in the company, valued at $1,656,509.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 131,291 shares of company stock worth $1,457,413. 8.81% 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.