Castleark Management LLC Acquires New Holdings in Bloom Energy Co. (NYSE:BE)

Castleark Management LLC bought a new position in Bloom Energy Co. (NYSE:BE) during the 4th quarter, Holdings Channel reports. The institutional investor bought 128,750 shares of the company’s stock, valued at approximately $2,860,000.

Several other large investors have also recently bought and sold shares 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 lifted its position in Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after purchasing an additional 934 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Bloom Energy by 120.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after buying an additional 812 shares in the last quarter. Quarry LP bought a new position in shares of Bloom Energy in the 4th quarter worth $35,000. Finally, Avior Wealth Management LLC purchased a new stake in shares of Bloom Energy during the 4th quarter valued at $40,000. 77.04% of the stock is owned by institutional investors.

Bloom Energy Trading Down 4.6%

NYSE BE opened at $18.24 on Thursday. The stock has a market cap of $4.24 billion, a P/E ratio of -32.57 and a beta of 3.25. Bloom Energy Co. has a fifty-two week low of $9.02 and a fifty-two week high of $29.83. The stock has a 50 day simple moving average of $19.12 and a two-hundred day simple moving average of $21.81. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BE shares. Jefferies Financial Group cut their target price 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. Roth Mkm dropped their price target 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. Morgan Stanley decreased their price objective on Bloom Energy from $35.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. HSBC raised shares of Bloom Energy from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Tuesday, April 8th. Finally, Royal Bank of Canada set a $26.00 price target on shares of Bloom Energy in a research report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.97.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,496 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $19.89, for a total transaction of $29,755.44. Following the completion of the transaction, the insider now owns 229,682 shares of the company’s stock, valued at approximately $4,568,374.98. This trade represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Satish Chitoori sold 1,020 shares of the business’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 sale, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,375 shares of company stock valued at $1,053,445. Company insiders own 3.60% of the company’s stock.

Bloom Energy Company 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.