Bloom Energy Co. (NYSE:BE) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co trimmed its holdings in shares of Bloom Energy Co. (NYSE:BE) by 15.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 586,397 shares of the company’s stock after selling 110,629 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.26% of Bloom Energy worth $6,586,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in Bloom Energy during the 4th quarter valued at $82,678,000. Electron Capital Partners LLC bought a new position in Bloom Energy during the fourth quarter valued at about $27,796,000. Vanguard Group Inc. grew its holdings in Bloom Energy by 9.3% during the third quarter. Vanguard Group Inc. now owns 19,221,174 shares of the company’s stock worth $254,873,000 after acquiring an additional 1,635,738 shares during the period. Coatue Management LLC raised its position in Bloom Energy by 28.3% in the fourth quarter. Coatue Management LLC now owns 4,436,901 shares of the company’s stock worth $65,666,000 after acquiring an additional 978,053 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in Bloom Energy in the 4th quarter valued at about $7,570,000. 77.04% of the stock is currently owned by institutional investors.

Bloom Energy Trading Up 0.2 %

Bloom Energy stock opened at $14.51 on Friday. The firm has a fifty day moving average price of $14.23 and a two-hundred day moving average price of $12.06. Bloom Energy Co. has a fifty-two week low of $8.41 and a fifty-two week high of $18.20. The company has a debt-to-equity ratio of 2.56, a current ratio of 4.45 and a quick ratio of 2.97.

Bloom Energy (NYSE:BE) last released its earnings results on Thursday, May 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). Bloom Energy had a negative net margin of 22.27% and a negative return on equity of 19.32%. The business had revenue of $235.30 million during the quarter, compared to analyst estimates of $254.06 million. On average, research analysts anticipate that Bloom Energy Co. will post -0.26 EPS for the current year.

Analysts Set New Price Targets

BE has been the topic of a number of research reports. TD Cowen boosted their target price on shares of Bloom Energy from $10.00 to $13.00 and gave the stock a “hold” rating in a report on Friday, May 10th. Piper Sandler upped their price target on Bloom Energy from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. raised their price objective on Bloom Energy from $12.00 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. BTIG Research boosted their target price on Bloom Energy from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Finally, Evercore ISI decreased their price target on Bloom Energy from $21.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $15.64.

Insider Buying and Selling at Bloom Energy

In other news, Director Eddy Zervigon sold 28,150 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $12.86, for a total transaction of $362,009.00. Following the transaction, the director now owns 111,161 shares in the company, valued at approximately $1,429,530.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Bloom Energy news, insider Shawn Marie Soderberg sold 2,094 shares of Bloom Energy stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $14.53, for a total transaction of $30,425.82. Following the sale, the insider now owns 168,867 shares in the company, valued at $2,453,637.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eddy Zervigon sold 28,150 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $12.86, for a total transaction of $362,009.00. Following the completion of the transaction, the director now owns 111,161 shares of the company’s stock, valued at approximately $1,429,530.46. The disclosure for this sale can be found here. Insiders sold a total of 71,516 shares of company stock valued at $885,088 in the last ninety days. Company insiders own 8.81% of the company’s stock.

Bloom Energy Company 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.