Sheets Smith Wealth Management reduced its holdings in shares of Bloom Energy Co. (NYSE:BE) by 17.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,510 shares of the company’s stock after selling 4,135 shares during the period. Sheets Smith Wealth Management’s holdings in Bloom Energy were worth $559,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Van ECK Associates Corp bought a new stake in shares of Bloom Energy during the 3rd quarter worth $1,316,000. Nuveen Asset Management LLC raised its stake in shares of Bloom Energy by 52.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,066,264 shares of the company’s stock worth $11,601,000 after purchasing an additional 366,771 shares during the period. Blair William & Co. IL bought a new stake in shares of Bloom Energy during the 3rd quarter worth $378,000. Steward Partners Investment Advisory LLC raised its stake in shares of Bloom Energy by 61.3% during the 3rd 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, First Trust Advisors LP raised its stake in shares of Bloom Energy by 88.3% during the 3rd quarter. First Trust Advisors LP now owns 338,610 shares of the company’s stock worth $6,085,000 after purchasing an additional 158,799 shares during the period. Institutional investors and hedge funds own 49.58% of the company’s stock.
In other news, EVP Swaminathan Venkataraman sold 1,720 shares of the business’s stock in a transaction dated Friday, November 20th. The stock was sold at an average price of $19.00, for a total transaction of $32,680.00. Following the completion of the transaction, the executive vice president now owns 143,446 shares of the company’s stock, valued at $2,725,474. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christopher White sold 8,415 shares of the business’s stock in a transaction dated Friday, December 18th. The stock was sold at an average price of $26.74, for a total value of $225,017.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 989,769 shares of company stock worth $24,229,558. Company insiders own 26.82% of the company’s stock.
Bloom Energy (NYSE:BE) last announced its quarterly earnings results on Thursday, October 29th. The company reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.02. The company had revenue of $200.31 million for the quarter, compared to the consensus estimate of $222.93 million. Analysts expect that Bloom Energy Co. will post -1.17 earnings per share for the current fiscal year.
A number of equities research analysts have recently commented on the company. Morgan Stanley cut Bloom Energy from an “overweight” rating to an “equal weight” rating and set a $34.00 target price on the stock. in a research note on Tuesday. JPMorgan Chase & Co. cut Bloom Energy from an “overweight” rating to a “neutral” rating and set a $26.00 price objective on the stock. in a research note on Wednesday, December 9th. Johnson Rice assumed coverage on Bloom Energy in a research note on Wednesday, December 9th. They issued an “accumulate” rating and a $32.00 price objective on the stock. BidaskClub upgraded Bloom Energy from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 25th. Finally, Zacks Investment Research cut Bloom Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, November 10th. Nine equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Bloom Energy has a consensus rating of “Hold” and an average target price of $23.50.
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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