Bank of New York Mellon Corp Trims Stake in Bloom Energy Corporation $BE

Bank of New York Mellon Corp cut its holdings in shares of Bloom Energy Corporation (NYSE:BE) by 14.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,140,478 shares of the company’s stock after selling 189,318 shares during the quarter. Bank of New York Mellon Corp’s holdings in Bloom Energy were worth $27,280,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blair William & Co. IL raised its holdings in Bloom Energy by 2.8% in the 2nd quarter. Blair William & Co. IL now owns 16,246 shares of the company’s stock valued at $389,000 after buying an additional 437 shares during the period. CWM LLC raised its stake in shares of Bloom Energy by 23.7% in the 1st quarter. CWM LLC now owns 3,360 shares of the company’s stock valued at $66,000 after acquiring an additional 644 shares during the period. Xponance Inc. lifted its holdings in shares of Bloom Energy by 6.4% in the 1st quarter. Xponance Inc. now owns 15,484 shares of the company’s stock worth $304,000 after acquiring an additional 935 shares during the last quarter. Robertson Stephens Wealth Management LLC lifted its holdings in shares of Bloom Energy by 7.4% in the 2nd quarter. Robertson Stephens Wealth Management LLC now owns 14,459 shares of the company’s stock worth $346,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Bloom Energy by 47.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,373 shares of the company’s stock worth $66,000 after purchasing an additional 1,081 shares during the period. 77.04% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 36,666 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $141.00, for a total value of $5,169,906.00. Following the sale, the insider directly owned 225,949 shares of the company’s stock, valued at approximately $31,858,809. This represents a 13.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mary K. Bush sold 36,000 shares of Bloom Energy stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $142.82, for a total transaction of $5,141,520.00. Following the sale, the director directly owned 133,524 shares of the company’s stock, valued at approximately $19,069,897.68. This trade represents a 21.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 332,065 shares of company stock valued at $26,675,662 over the last quarter. Insiders own 3.60% of the company’s stock.

Bloom Energy Trading Up 7.1%

BE opened at $110.87 on Friday. The business has a fifty day moving average price of $98.40 and a 200 day moving average price of $53.10. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 2.88. Bloom Energy Corporation has a 12 month low of $15.15 and a 12 month high of $147.86. The stock has a market capitalization of $26.22 billion, a price-to-earnings ratio of 575.28, a PEG ratio of 58.35 and a beta of 3.43.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. The company had revenue of $508.69 million for the quarter, compared to analyst estimates of $425.18 million. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.Bloom Energy’s revenue for the quarter was up 57.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.01) EPS. Sell-side analysts expect that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BE. Roth Capital reissued a “neutral” rating and issued a $103.00 target price on shares of Bloom Energy in a research report on Wednesday, October 29th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $123.00 price objective on shares of Bloom Energy in a report on Monday, October 20th. Oppenheimer reissued a “market perform” rating on shares of Bloom Energy in a research note on Wednesday, October 29th. Jefferies Financial Group restated an “underperform” rating and set a $53.00 target price on shares of Bloom Energy in a report on Friday, October 31st. Finally, Mizuho set a $89.00 price target on shares of Bloom Energy in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Bloom Energy currently has an average rating of “Hold” and an average target price of $95.65.

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.