Hartline Investment Corp Has $1.39 Million Position in Bloom Energy Co. (NYSE:BE)

Hartline Investment Corp reduced its stake in shares of Bloom Energy Co. (NYSE:BE) by 55.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 93,954 shares of the company’s stock after selling 117,641 shares during the quarter. Hartline Investment Corp’s holdings in Bloom Energy were worth $1,391,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. John G Ullman & Associates Inc. grew its position in shares of Bloom Energy by 56.6% in the 4th quarter. John G Ullman & Associates Inc. now owns 81,200 shares of the company’s stock valued at $1,202,000 after purchasing an additional 29,350 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Bloom Energy by 42.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 382,276 shares of the company’s stock valued at $5,658,000 after purchasing an additional 113,919 shares during the period. Flputnam Investment Management Co. grew its position in shares of Bloom Energy by 57.2% in the 4th quarter. Flputnam Investment Management Co. now owns 157,676 shares of the company’s stock valued at $2,334,000 after purchasing an additional 57,397 shares during the period. Waldron Private Wealth LLC grew its position in shares of Bloom Energy by 44.9% in the 4th quarter. Waldron Private Wealth LLC now owns 80,945 shares of the company’s stock valued at $1,197,000 after purchasing an additional 25,075 shares during the period. Finally, NewEdge Wealth LLC acquired a new position in shares of Bloom Energy in the 4th quarter valued at approximately $196,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. KeyCorp lowered Bloom Energy from an “overweight” rating to a “sector weight” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. downgraded Bloom Energy from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $19.00 to $14.00 in a research report on Friday, February 16th. Susquehanna reduced their price target on Bloom Energy from $18.00 to $16.00 and set a “positive” rating for the company in a research report on Wednesday, March 27th. BMO Capital Markets reduced their price target on Bloom Energy from $11.00 to $10.00 and set a “market perform” rating for the company in a research report on Friday, February 16th. Finally, Robert W. Baird raised Bloom Energy from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $16.00 to $22.00 in a research report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Bloom Energy presently has an average rating of “Moderate Buy” and an average price target of $16.69.

Bloom Energy Stock Performance

BE traded down $0.19 during trading hours on Wednesday, reaching $9.64. The company’s stock had a trading volume of 3,898,630 shares, compared to its average volume of 5,596,327. Bloom Energy Co. has a 52 week low of $8.41 and a 52 week high of $18.76. The company’s 50-day moving average is $10.16 and its 200-day moving average is $11.71. The company has a debt-to-equity ratio of 2.41, a quick ratio of 2.53 and a current ratio of 3.60. The firm has a market cap of $2.17 billion, a PE ratio of -6.63 and a beta of 2.79.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. Bloom Energy had a negative return on equity of 23.88% and a negative net margin of 22.66%. The business had revenue of $356.92 million for the quarter, compared to analysts’ expectations of $481.90 million. On average, equities analysts forecast that Bloom Energy Co. will post -0.16 EPS for the current year.

Insiders Place Their Bets

In other Bloom Energy news, insider Shawn Marie Soderberg sold 8,963 shares of Bloom Energy stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $9.86, for a total value of $88,375.18. Following the transaction, the insider now owns 168,003 shares in the company, valued at $1,656,509.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Bloom Energy news, insider Shawn Marie Soderberg sold 8,963 shares of Bloom Energy stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $9.86, for a total value of $88,375.18. Following the transaction, the insider now owns 168,003 shares in the company, valued at $1,656,509.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kr Sridhar sold 50,746 shares of Bloom Energy stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $9.74, for a total value of $494,266.04. Following the completion of the transaction, the chief executive officer now owns 2,702,608 shares in the company, valued at approximately $26,323,401.92. The disclosure for this sale can be found here. Insiders have sold 74,989 shares of company stock worth $725,292 in the last 90 days. Company insiders own 3.50% of the company’s stock.

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.