Twinbeech Capital LP Acquires New Position in Bloom Energy Co. (NYSE:BE)

Twinbeech Capital LP acquired a new stake in shares of Bloom Energy Co. (NYSE:BE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 400,483 shares of the company’s stock, valued at approximately $8,895,000. Twinbeech Capital LP owned about 0.18% of Bloom Energy as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Mainstream Capital Management LLC bought a new stake in shares of Bloom Energy during the 4th quarter valued at about $28,000. Smartleaf Asset Management LLC grew its position in shares of Bloom Energy by 291.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after buying an additional 934 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Bloom Energy by 120.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after buying an additional 812 shares during the last quarter. Quarry LP bought a new stake in shares of Bloom Energy during the 4th quarter valued at about $35,000. Finally, Avior Wealth Management LLC bought a new stake in shares of Bloom Energy during the 4th quarter valued at about $40,000. Institutional investors own 77.04% of the company’s stock.

Insider Buying and Selling

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 of the company’s stock, valued at approximately $4,482,479.04. This trade represents a 0.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shawn Marie Soderberg sold 2,780 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $19.72, for a total transaction of $54,821.60. Following the completion of the transaction, the insider now directly owns 152,890 shares of the company’s stock, valued at $3,014,990.80. This represents a 1.79% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,375 shares of company stock worth $1,053,445. Corporate insiders own 3.60% of the company’s stock.

Bloom Energy Trading Down 4.1%

Shares of NYSE:BE opened at $19.29 on Tuesday. The stock has a market capitalization of $4.48 billion, a price-to-earnings ratio of -34.45 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 debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The company has a 50 day moving average price of $19.34 and a 200 day moving average price of $21.85.

Bloom Energy (NYSE:BE) last issued its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.10. The firm had revenue of $326.02 million during the quarter, compared to analysts’ expectations of $294.27 million. Bloom Energy had a negative net margin of 10.29% and a negative return on equity of 20.32%. The firm’s revenue for the quarter 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, research analysts anticipate that Bloom Energy Co. will post -0.23 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on BE. Piper Sandler decreased their target price on shares of Bloom Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. TD Cowen upped their target price on shares of Bloom Energy from $13.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, February 28th. BMO Capital Markets restated a “market perform” rating on shares of Bloom Energy in a research report on Friday, February 28th. Roth Mkm decreased their target price on shares of Bloom Energy from $26.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Finally, Bank of America decreased their target price on shares of Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.47.

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.