BROOKFIELD Corp ON Makes New Investment in Bloom Energy Co. (NYSE:BE)

BROOKFIELD Corp ON bought a new stake in Bloom Energy Co. (NYSE:BE) in the fourth quarter, Holdings Channel.com reports. The firm bought 53,753 shares of the company’s stock, valued at approximately $1,194,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Bloom Energy in the 4th quarter worth $93,951,000. Fuller & Thaler Asset Management Inc. acquired a new stake in Bloom Energy during the fourth quarter worth $61,968,000. Elemental Capital Partners LLC purchased a new stake in Bloom Energy in the fourth quarter valued at $33,612,000. Trivest Advisors Ltd purchased a new position in shares of Bloom Energy during the 4th quarter worth $30,539,000. Finally, Wellington Management Group LLP increased its position in shares of Bloom Energy by 306.3% during the 4th quarter. Wellington Management Group LLP now owns 1,383,897 shares of the company’s stock worth $30,736,000 after purchasing an additional 1,043,326 shares during the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Bloom Energy news, insider Satish Chitoori sold 1,020 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the transaction, the insider now directly owns 178,656 shares of the company’s stock, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BE has been the topic of a number of research analyst reports. TD Cowen boosted their price target on shares of Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, February 28th. HSBC upgraded Bloom Energy from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Tuesday, April 8th. Morgan Stanley decreased their target price on Bloom Energy from $35.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Bank of America dropped their target price on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a research report on Tuesday, January 28th. Finally, Piper Sandler dropped their price objective on shares of Bloom Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Monday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.34.

Bloom Energy Trading Down 0.2 %

Shares of Bloom Energy stock opened at $16.41 on Tuesday. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The company has a fifty day simple moving average of $20.34 and a 200-day simple moving average of $21.24. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of -29.30 and a beta of 3.25. Bloom Energy Co. has a 12-month low of $9.02 and a 12-month high of $29.83.

Bloom Energy (NYSE:BE) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $326.02 million during the quarter, compared to the consensus estimate of $294.27 million. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. Bloom Energy’s revenue for the quarter was up 38.5% on a year-over-year basis. On average, equities analysts forecast that Bloom Energy Co. will post -0.23 EPS 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.