Bloom Energy Corporation $BE Stock Holdings Lessened by M.E. Allison & CO. Inc.

M.E. Allison & CO. Inc. lowered its position in shares of Bloom Energy Corporation (NYSE:BE) by 27.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,950 shares of the company’s stock after selling 14,080 shares during the period. Bloom Energy accounts for about 2.2% of M.E. Allison & CO. Inc.’s holdings, making the stock its 8th biggest position. M.E. Allison & CO. Inc.’s holdings in Bloom Energy were worth $3,125,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Union Bancaire Privee UBP SA bought a new position in Bloom Energy in the 3rd quarter valued at $6,757,000. GAMMA Investing LLC raised its position in shares of Bloom Energy by 14.1% in the third quarter. GAMMA Investing LLC now owns 2,708 shares of the company’s stock worth $229,000 after buying an additional 335 shares in the last quarter. Praxis Investment Management Inc. purchased a new stake in shares of Bloom Energy in the third quarter worth $465,000. Corient Private Wealth LLC bought a new stake in Bloom Energy during the second quarter valued at $235,000. Finally, State of Wyoming purchased a new position in Bloom Energy during the second quarter worth about $138,000. Institutional investors own 77.04% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Oppenheimer reaffirmed a “market perform” rating on shares of Bloom Energy in a report on Wednesday, October 29th. TD Cowen raised their target price on shares of Bloom Energy to $105.00 and gave the company a “hold” rating in a research note on Wednesday, October 29th. Wedbush set a $39.00 target price on shares of Bloom Energy in a research report on Tuesday, November 25th. UBS Group increased their price target on shares of Bloom Energy to $115.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Finally, Roth Capital reiterated a “neutral” rating and issued a $103.00 target price on shares of Bloom Energy in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Bloom Energy has an average rating of “Hold” and a consensus target price of $93.77.

Insider Buying and Selling

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,583 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $105.97, for a total value of $167,750.51. Following the completion of the sale, the insider owned 221,633 shares in the company, valued at approximately $23,486,449.01. This trade represents a 0.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Satish Chitoori sold 2,085 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $104.08, for a total value of $217,006.80. Following the transaction, the insider directly owned 229,880 shares in the company, valued at $23,925,910.40. This trade represents a 0.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 116,715 shares of company stock valued at $16,236,935 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Bloom Energy Stock Performance

Shares of BE stock opened at $76.87 on Thursday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.88 and a current ratio of 4.40. Bloom Energy Corporation has a fifty-two week low of $15.15 and a fifty-two week high of $147.86. The company has a market capitalization of $18.18 billion, a P/E ratio of 486.72, a PEG ratio of 55.33 and a beta of 3.00. The stock has a 50 day moving average price of $110.00 and a two-hundred day moving average price of $66.68.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. The company had revenue of $519.05 million during the quarter, compared to analyst estimates of $425.18 million. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The firm’s revenue was up 57.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.01) EPS. Analysts expect that Bloom Energy Corporation will post -0.23 earnings per share for the current 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.