Select Equity Group L.P. Acquires 154,993 Shares of Bloom Energy Co. (NYSE:BE)

Select Equity Group L.P. raised its holdings in shares of Bloom Energy Co. (NYSE:BE) by 125.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 278,515 shares of the company’s stock after acquiring an additional 154,993 shares during the quarter. Select Equity Group L.P. owned approximately 0.12% of Bloom Energy worth $6,186,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its stake in shares of Bloom Energy by 291.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after buying an additional 934 shares in the last quarter. Mainstream Capital Management LLC bought a new position in shares of Bloom Energy in the fourth quarter valued at $28,000. Jones Financial Companies Lllp grew its stake in shares of Bloom Energy by 120.5% in the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after buying an additional 812 shares in the last quarter. Quarry LP bought a new position in shares of Bloom Energy in the fourth quarter valued at $35,000. Finally, Avior Wealth Management LLC bought a new position in shares of Bloom Energy in the fourth quarter valued at $40,000. 77.04% of the stock is owned by institutional investors.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,496 shares of Bloom Energy stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $19.89, for a total value of $29,755.44. Following the transaction, the insider now owns 229,682 shares in the company, valued at $4,568,374.98. The trade was a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the transaction, the insider now owns 178,656 shares in the company, valued at approximately $4,482,479.04. This represents a 0.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,375 shares of company stock valued at $1,053,445 over the last quarter. 3.50% of the stock is owned by corporate insiders.

Bloom Energy Stock Up 1.6%

BE stock opened at $20.14 on Friday. The company has a market cap of $4.68 billion, a PE ratio of -35.96 and a beta of 3.25. The business has a 50-day simple moving average of $19.45 and a 200 day simple moving average of $21.62. Bloom Energy Co. has a 52 week low of $9.02 and a 52 week high of $29.83. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.10. The business had revenue of $326.02 million during the quarter, compared to the consensus estimate of $294.27 million. Bloom Energy had a negative return on equity of 20.32% and a negative net margin of 10.29%. Bloom Energy’s revenue for the quarter was up 38.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. Sell-side analysts anticipate that Bloom Energy Co. will post -0.23 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on BE. Roth Mkm cut their price target on Bloom Energy from $26.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Mizuho raised Bloom Energy from a “neutral” rating to an “outperform” rating and cut their price target for the company from $28.00 to $26.00 in a report on Monday, May 5th. Bank of America cut their price target on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a report on Tuesday, January 28th. Robert W. Baird cut their price target on Bloom Energy from $32.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Finally, Redburn Atlantic downgraded Bloom Energy from a “neutral” rating to a “sell” rating and cut their price target for the company from $14.50 to $10.00 in a report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.47.

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.