Central Asset Investments & Management Holdings HK Ltd Buys Shares of 21,300 Bloom Energy Co. (NYSE:BE)

Central Asset Investments & Management Holdings HK Ltd purchased a new position in shares of Bloom Energy Co. (NYSE:BE) during the second quarter, HoldingsChannel.com reports. The fund purchased 21,300 shares of the company’s stock, valued at approximately $261,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Millburn Ridgefield Corp increased its position in shares of Bloom Energy by 64.0% in the 1st quarter. Millburn Ridgefield Corp now owns 3,296 shares of the company’s stock valued at $37,000 after acquiring an additional 1,286 shares during the period. Steward Partners Investment Advisory LLC grew its stake in Bloom Energy by 9.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,299 shares of the company’s stock valued at $226,000 after purchasing an additional 1,308 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Bloom Energy by 2.7% in the second quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock valued at $696,000 after purchasing an additional 1,470 shares during the period. Tocqueville Asset Management L.P. raised its stake in shares of Bloom Energy by 3.1% in the first quarter. Tocqueville Asset Management L.P. now owns 59,250 shares of the company’s stock worth $666,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Bloom Energy by 10.6% during the fourth quarter. Principal Financial Group Inc. now owns 22,294 shares of the company’s stock worth $330,000 after purchasing an additional 2,139 shares during the period. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Bloom Energy Price Performance

Shares of NYSE BE opened at $10.10 on Wednesday. The company has a debt-to-equity ratio of 3.43, a quick ratio of 3.33 and a current ratio of 4.65. The firm has a fifty day moving average of $12.12 and a 200 day moving average of $12.12. The firm has a market cap of $2.29 billion, a PE ratio of -7.48 and a beta of 2.69. Bloom Energy Co. has a one year low of $8.41 and a one year high of $18.14.

Bloom Energy (NYSE:BE) last released its earnings results on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). Bloom Energy had a negative net margin of 21.37% and a negative return on equity of 11.90%. The business had revenue of $335.80 million during the quarter, compared to analysts’ expectations of $307.73 million. During the same quarter in the previous year, the company earned ($0.32) earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis. As a group, research analysts predict that Bloom Energy Co. will post -0.25 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on BE. Truist Financial raised their price target on shares of Bloom Energy from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. raised their target price on shares of Bloom Energy from $12.00 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. UBS Group lowered their price target on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. BTIG Research lifted their price objective on Bloom Energy from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Finally, Jefferies Financial Group downgraded Bloom Energy from a “buy” rating to a “hold” rating and lowered their target price for the stock from $15.00 to $11.00 in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $15.88.

Insiders Place Their Bets

In other news, insider Shawn Marie Soderberg sold 2,094 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $14.53, for a total value of $30,425.82. Following the transaction, the insider now owns 168,867 shares in the company, valued at $2,453,637.51. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.81% of the stock is owned by company insiders.

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.