Bloom Energy Co. (NYSE:BE) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its position in shares of Bloom Energy Co. (NYSE:BE) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,181 shares of the company’s stock after selling 3,175 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Bloom Energy were worth $2,447,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of BE. Vanguard Group Inc. lifted its holdings in Bloom Energy by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company’s stock valued at $427,194,000 after purchasing an additional 356,317 shares in the last quarter. Norges Bank purchased a new position in Bloom Energy in the 4th quarter valued at about $93,951,000. Fuller & Thaler Asset Management Inc. acquired a new stake in Bloom Energy in the 4th quarter worth about $61,968,000. Legal & General Group Plc increased its stake in Bloom Energy by 7.3% during the 4th quarter. Legal & General Group Plc now owns 2,133,318 shares of the company’s stock worth $47,381,000 after buying an additional 144,616 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Bloom Energy by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company’s stock valued at $36,737,000 after acquiring an additional 10,265 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Roth Mkm reduced their price objective on Bloom Energy from $26.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. raised their price target on shares of Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Morgan Stanley dropped their price objective on shares of Bloom Energy from $35.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Robert W. Baird decreased their target price on shares of Bloom Energy from $32.00 to $27.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Finally, 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. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.47.

Bloom Energy Stock Performance

Shares of Bloom Energy stock opened at $17.58 on Friday. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of -31.39 and a beta of 3.25. The business has a 50-day moving average of $19.83 and a 200 day moving average of $21.36. Bloom Energy Co. has a 12 month low of $9.02 and a 12 month high of $29.83.

Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 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 analysts’ expectations of $294.27 million. During the same quarter last year, the company posted ($0.17) EPS. The firm’s revenue was up 38.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Bloom Energy Co. will post -0.23 earnings per share for the current year.

Insiders Place Their Bets

In other Bloom Energy news, insider Satish Chitoori sold 1,020 shares of the business’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 transaction 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. The trade was a 0.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.60% of the stock is owned by company insiders.

About Bloom Energy

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.