Bloom Energy Co. (NYSE:BE) Stock Position Decreased by Long Run Wealth Advisors LLC

Long Run Wealth Advisors LLC decreased its holdings in shares of Bloom Energy Co. (NYSE:BE) by 27.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 10,429 shares of the company’s stock after selling 4,000 shares during the period. Long Run Wealth Advisors LLC’s holdings in Bloom Energy were worth $110,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. ORG Partners LLC acquired a new stake in shares of Bloom Energy during the 2nd quarter worth approximately $40,000. Quest Partners LLC increased its position in Bloom Energy by 2,780.0% in the second quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after buying an additional 3,475 shares during the period. Gilliland Jeter Wealth Management LLC bought a new stake in Bloom Energy in the second quarter valued at $53,000. Mather Group LLC. acquired a new position in shares of Bloom Energy during the second quarter valued at $66,000. Finally, Emerald Mutual Fund Advisers Trust bought a new position in shares of Bloom Energy during the third quarter worth about $74,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Stock Performance

Shares of BE opened at $11.41 on Wednesday. The company has a debt-to-equity ratio of 3.43, a current ratio of 4.65 and a quick ratio of 3.33. The firm’s 50 day moving average is $10.43 and its 200-day moving average is $12.09. Bloom Energy Co. has a 12-month low of $8.41 and a 12-month high of $18.14. The stock has a market capitalization of $2.60 billion, a P/E ratio of -8.77 and a beta of 2.71.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). The company had revenue of $335.80 million for the quarter, compared to analysts’ expectations of $307.73 million. Bloom Energy had a negative return on equity of 11.90% and a negative net margin of 21.37%. The firm’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.32) earnings per share. Equities research analysts anticipate that Bloom Energy Co. will post -0.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. UBS Group cut their price objective on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Jefferies Financial Group downgraded Bloom Energy from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $15.00 to $11.00 in a research report on Friday, September 6th. Susquehanna decreased their price objective on Bloom Energy from $16.00 to $13.00 and set a “positive” rating for the company in a report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their target price on Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Finally, Truist Financial decreased their price target on Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $15.39.

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.