Ardsley Advisory Partners LP Has $1.78 Million Holdings in Bloom Energy Co. (NYSE:BE)

Ardsley Advisory Partners LP lifted its holdings in shares of Bloom Energy Co. (NYSE:BE) by 6.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,000 shares of the company’s stock after buying an additional 5,000 shares during the quarter. Ardsley Advisory Partners LP’s holdings in Bloom Energy were worth $1,777,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of BE. Mainstream Capital Management LLC acquired a new position in shares of Bloom Energy during the 4th quarter worth about $28,000. Smartleaf Asset Management LLC boosted its stake in Bloom Energy by 291.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after acquiring an additional 934 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after purchasing an additional 812 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Bloom Energy in the third quarter valued at approximately $34,000. Finally, Quarry LP acquired a new stake in Bloom Energy in the fourth quarter worth $35,000. 77.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Redburn Atlantic lowered shares of Bloom Energy from a “neutral” rating to a “sell” rating and decreased their price target for the company from $14.50 to $10.00 in a report on Wednesday, April 9th. Susquehanna lowered their price target on Bloom Energy from $33.00 to $26.00 and set a “positive” rating for the company in a report on Monday, April 14th. Piper Sandler cut their price objective on Bloom Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Robert W. Baird decreased their price objective on Bloom Energy from $32.00 to $27.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Finally, Bank of America cut their price target on shares of Bloom Energy from $20.00 to $18.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.71.

Insider Transactions at Bloom Energy

In related news, insider Satish Chitoori sold 1,020 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the transaction, the insider now owns 178,656 shares in the company, valued at $4,482,479.04. This trade represents a 0.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.81% of the company’s stock.

Bloom Energy Stock Performance

BE opened at $16.50 on Friday. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The business’s 50-day simple moving average is $20.48 and its 200 day simple moving average is $21.04. The firm has a market capitalization of $3.80 billion, a PE ratio of -29.46 and a beta of 3.27. Bloom Energy Co. has a 52-week low of $9.02 and a 52-week high of $29.83.

Bloom Energy (NYSE:BE) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.10. Bloom Energy had a negative net margin of 10.29% and a negative return on equity of 20.32%. The business had revenue of $326.02 million for the quarter, compared to analyst estimates of $294.27 million. During the same quarter in the prior year, the business earned ($0.17) EPS. Bloom Energy’s quarterly revenue was up 38.5% on a year-over-year basis. As a group, sell-side analysts expect that Bloom Energy Co. will post -0.23 earnings per share for the current fiscal year.

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.