First Trust Advisors LP raised its position in Bloom Energy Co. (NYSE:BE) by 88.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 338,610 shares of the company’s stock after purchasing an additional 158,799 shares during the period. First Trust Advisors LP’s holdings in Bloom Energy were worth $6,085,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FLC Capital Advisors raised its stake in shares of Bloom Energy by 5.7% in the 3rd quarter. FLC Capital Advisors now owns 15,742 shares of the company’s stock valued at $286,000 after purchasing an additional 842 shares during the period. American International Group Inc. grew its holdings in Bloom Energy by 1.9% during the third quarter. American International Group Inc. now owns 53,039 shares of the company’s stock worth $953,000 after purchasing an additional 1,007 shares during the period. Usca Ria LLC grew its holdings in Bloom Energy by 11.4% during the third quarter. Usca Ria LLC now owns 11,140 shares of the company’s stock worth $200,000 after purchasing an additional 1,140 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in Bloom Energy by 61.3% during the third quarter. Steward Partners Investment Advisory LLC now owns 3,225 shares of the company’s stock worth $58,000 after purchasing an additional 1,225 shares during the period. Finally, Raymond James & Associates grew its holdings in Bloom Energy by 2.3% during the third quarter. Raymond James & Associates now owns 69,019 shares of the company’s stock worth $1,240,000 after purchasing an additional 1,557 shares during the period. 35.62% of the stock is currently owned by hedge funds and other institutional investors.
BE stock opened at $18.67 on Friday. The stock has a market capitalization of $3.10 billion, a PE ratio of -11.60 and a beta of 3.18. The company’s 50-day moving average is $17.32 and its 200-day moving average is $13.50. The company has a debt-to-equity ratio of 20.91, a current ratio of 1.67 and a quick ratio of 1.33. Bloom Energy Co. has a 1 year low of $3.00 and a 1 year high of $23.38.
Bloom Energy (NYSE:BE) last posted its earnings results on Thursday, October 29th. The company reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.02. On average, analysts anticipate that Bloom Energy Co. will post -1.17 earnings per share for the current fiscal year.
A number of brokerages have recently issued reports on BE. Morgan Stanley reduced their price objective on Bloom Energy from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, November 17th. Oppenheimer restated a “hold” rating on shares of Bloom Energy in a research report on Friday, August 21st. Credit Suisse Group restated a “buy” rating and set a $24.00 price objective on shares of Bloom Energy in a research report on Tuesday, August 11th. Finally, Zacks Investment Research downgraded shares of Bloom Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, November 10th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $17.40.
In related news, COO Susan Seilheimer Brennan sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $13.26, for a total value of $26,520.00. Following the completion of the transaction, the chief operating officer now directly owns 211,884 shares of the company’s stock, valued at approximately $2,809,581.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Canada Pension Plan Investment sold 9,206,695 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $15.90, for a total transaction of $146,386,450.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,192,429 shares of company stock valued at $163,715,387. Company insiders own 26.82% of the company’s stock.
Bloom Energy Profile
Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems for on-site power generation. It offers Bloom Energy Server, a stationary power generation platform that converts standard low-pressure natural gas, biogas, or hydrogen into electricity through an electrochemical process without combustion.
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