Invesco Ltd. lifted its stake in Bloom Energy Corp (NYSE:BE) by 32.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 421,938 shares of the company’s stock after buying an additional 103,606 shares during the period. Invesco Ltd. owned approximately 0.37% of Bloom Energy worth $5,177,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. BNP Paribas Arbitrage SA boosted its position in shares of Bloom Energy by 25,000.0% in the second quarter. BNP Paribas Arbitrage SA now owns 4,016 shares of the company’s stock worth $49,000 after buying an additional 4,000 shares during the period. Synovus Financial Corp purchased a new stake in shares of Bloom Energy in the second quarter worth about $65,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Bloom Energy in the second quarter worth about $67,000. NumerixS Investment Technologies Inc purchased a new stake in shares of Bloom Energy in the second quarter worth about $162,000. Finally, Endurance Wealth Management Inc. boosted its position in shares of Bloom Energy by 4,085.7% in the second quarter. Endurance Wealth Management Inc. now owns 14,650 shares of the company’s stock worth $180,000 after buying an additional 14,300 shares during the period. 39.67% of the stock is owned by institutional investors.
In other Bloom Energy news, COO Susan Seilheimer Brennan sold 55,486 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $3.41, for a total transaction of $189,207.26. Also, EVP Swaminathan Venkataraman sold 86,324 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $3.41, for a total value of $294,364.84. Insiders have sold 146,607 shares of company stock worth $499,930 in the last 90 days. 36.45% of the stock is currently owned by insiders.
A number of research analysts recently commented on BE shares. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $12.00 price target (down previously from $18.00) on shares of Bloom Energy in a report on Thursday, September 19th. KeyCorp reissued an “overweight” rating and issued a $15.00 price target (down previously from $27.00) on shares of Bloom Energy in a report on Wednesday, August 14th. Robert W. Baird reduced their price target on Bloom Energy from $16.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Raymond James reduced their price target on Bloom Energy from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Tuesday, October 1st. Finally, Zacks Investment Research downgraded Bloom Energy from a “hold” rating to a “sell” rating in a report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $11.88.
Shares of BE opened at $3.17 on Friday. Bloom Energy Corp has a one year low of $3.00 and a one year high of $28.34. The company has a debt-to-equity ratio of 10.34, a current ratio of 1.75 and a quick ratio of 1.44. The stock has a 50-day moving average price of $3.94 and a 200 day moving average price of $9.58.
Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.59) EPS for the quarter, meeting analysts’ consensus estimates of ($0.59). The firm had revenue of $233.80 million during the quarter, compared to the consensus estimate of $207.56 million. Bloom Energy had a negative return on equity of 539.17% and a negative net margin of 38.77%. The business’s quarterly revenue was up 38.4% compared to the same quarter last year. On average, equities research analysts anticipate that Bloom Energy Corp will post -2.07 earnings per share for the current year.
Bloom Energy Company Profile
Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems for on-site power generation. The company offers Bloom Energy Server, a stationary power generation platform that converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion.
Read More: What is a Market Correction?
Want to see what other hedge funds are holding BE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bloom Energy Corp (NYSE:BE).
Receive News & Ratings for Bloom Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bloom Energy and related companies with MarketBeat.com's FREE daily email newsletter.