Connor Clark & Lunn Investment Management Ltd. Decreases Stock Holdings in Bloom Energy Corporation $BE

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in shares of Bloom Energy Corporation (NYSE:BE) by 67.5% in the 2nd quarter, Holdings Channel reports. The firm owned 194,177 shares of the company’s stock after selling 404,150 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Bloom Energy were worth $4,645,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BE. Envestnet Asset Management Inc. grew its position in Bloom Energy by 43.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 24,965 shares of the company’s stock worth $491,000 after purchasing an additional 7,540 shares during the period. Nisa Investment Advisors LLC lifted its holdings 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 valued at $66,000 after buying an additional 1,081 shares during the period. Xponance Inc. boosted its stake 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 buying an additional 935 shares during the last quarter. CWM LLC grew its holdings in shares of Bloom Energy by 23.7% in the first quarter. CWM LLC now owns 3,360 shares of the company’s stock worth $66,000 after acquiring an additional 644 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in Bloom Energy by 0.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 706,079 shares of the company’s stock valued at $13,882,000 after acquiring an additional 2,693 shares during the last quarter. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Price Performance

Shares of Bloom Energy stock opened at $103.13 on Friday. The company has a market capitalization of $24.39 billion, a price-to-earnings ratio of 704.00, a PEG ratio of 71.41 and a beta of 3.43. The company has a quick ratio of 2.88, a current ratio of 4.40 and a debt-to-equity ratio of 1.98. The stock’s 50-day simple moving average is $97.32 and its 200-day simple moving average is $52.47. Bloom Energy Corporation has a 52 week low of $12.78 and a 52 week high of $147.86.

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

Wall Street Analyst Weigh In

BE has been the topic of several research reports. Hsbc Global Res raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 29th. Bank of America increased their price objective on shares of Bloom Energy from $24.00 to $26.00 and gave the stock an “underperform” rating in a research note on Monday, October 20th. HSBC upgraded shares of Bloom Energy from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research report on Wednesday, October 29th. Cowen reiterated a “hold” rating on shares of Bloom Energy in a research report on Wednesday, October 29th. Finally, Morgan Stanley lifted their price target on shares of Bloom Energy to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $95.65.

Insider Activity

In other news, insider Shawn Marie Soderberg sold 36,666 shares of the business’s stock in a transaction 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 transaction, the insider owned 225,949 shares of the company’s stock, valued at approximately $31,858,809. The trade was a 13.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jim H. Snabe sold 20,000 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $143.04, for a total transaction of $2,860,800.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 332,065 shares of company stock valued at $26,675,662. Company insiders own 3.60% of the company’s stock.

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.