Tairen Capital Ltd Acquires New Position in Bloom Energy Co. (NYSE:BE)

Tairen Capital Ltd bought a new position in shares of Bloom Energy Co. (NYSE:BE) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 18,100 shares of the company’s stock, valued at approximately $402,000.

Several other large investors have also recently modified their holdings of BE. Mainstream Capital Management LLC bought a new position in Bloom Energy in the 4th quarter worth approximately $28,000. Smartleaf Asset Management LLC boosted its holdings in shares of Bloom Energy by 291.0% in the fourth 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 period. Jones Financial Companies Lllp grew its position in shares of Bloom Energy by 120.5% in 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 in the last quarter. Quarry LP bought a new stake in shares of Bloom Energy during the 4th quarter valued at $35,000. Finally, Avior Wealth Management LLC bought a new position in Bloom Energy in the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BE shares. Truist Financial decreased their price target on Bloom Energy from $22.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, April 21st. Morgan Stanley reduced 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. Roth Mkm lowered their target price on shares of Bloom Energy from $26.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Susquehanna cut their price target on shares of Bloom Energy from $33.00 to $26.00 and set a “positive” rating for the company in a report on Monday, April 14th. Finally, Jefferies Financial Group reduced their price target on shares of Bloom Energy from $25.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.47.

Insider Buying and Selling

In other 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 transaction, the insider now owns 178,656 shares in the company, valued at approximately $4,482,479.04. This trade represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kr Sridhar sold 42,383 shares of Bloom Energy stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $19.14, for a total transaction of $811,210.62. Following the completion of the transaction, the chief executive officer now directly owns 2,724,613 shares in the company, valued at approximately $52,149,092.82. The trade was a 1.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,375 shares of company stock worth $1,053,445 in the last 90 days. 3.60% of the stock is owned by company insiders.

Bloom Energy Stock Performance

Shares of NYSE BE opened at $20.14 on Monday. The stock’s 50-day moving average is $19.45 and its 200 day moving average is $21.79. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of -35.96 and a beta of 3.25. Bloom Energy Co. has a 1-year low of $9.02 and a 1-year high of $29.83. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.10. The firm had revenue of $326.02 million for the quarter, compared to the consensus estimate of $294.27 million. Bloom Energy had a negative net margin of 10.29% and a negative return on equity of 20.32%. The business’s revenue was up 38.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.17) earnings per share. On average, sell-side analysts anticipate that Bloom Energy Co. will post -0.23 EPS for the current fiscal year.

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.