Clearbridge Investments LLC Grows Stock Position in Bloom Energy Co. (NYSE:BE)

Clearbridge Investments LLC grew its position in Bloom Energy Co. (NYSE:BE) by 0.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,312,808 shares of the company’s stock after acquiring an additional 5,219 shares during the quarter. Clearbridge Investments LLC owned about 1.34% of Bloom Energy worth $62,145,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC purchased a new position in Bloom Energy during the first quarter worth approximately $36,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Bloom Energy in the second quarter valued at $45,000. Point72 Hong Kong Ltd acquired a new stake in shares of Bloom Energy in the first quarter valued at $47,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Bloom Energy in the first quarter valued at $60,000. Finally, Bbva USA acquired a new position in Bloom Energy during the 2nd quarter worth $61,000. Institutional investors and hedge funds own 58.14% of the company’s stock.

In other Bloom Energy news, EVP Shawn Marie Soderberg sold 1,276 shares of the firm’s stock in a transaction dated Tuesday, August 17th. The shares were sold at an average price of $20.11, for a total value of $25,660.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Gregory D. Cameron sold 40,000 shares of Bloom Energy stock in a transaction that occurred on Wednesday, August 11th. The shares were sold at an average price of $21.84, for a total value of $873,600.00. Following the sale, the chief financial officer now directly owns 30,890 shares in the company, valued at approximately $674,637.60. The disclosure for this sale can be found here. Insiders have sold 63,069 shares of company stock valued at $1,320,282 over the last 90 days. Insiders own 15.86% of the company’s stock.

Several research analysts recently commented on BE shares. Wolfe Research started coverage on Bloom Energy in a research note on Tuesday, August 31st. They set a “peer perform” rating and a $25.00 target price for the company. BMO Capital Markets began coverage on Bloom Energy in a research note on Thursday, September 30th. They set a “market perform” rating and a $22.00 price objective for the company. Morgan Stanley dropped their target price on Bloom Energy from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 19th. Zacks Investment Research upgraded Bloom Energy from a “sell” rating to a “hold” rating in a report on Monday, October 4th. Finally, JPMorgan Chase & Co. upped their price target on Bloom Energy from $29.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, July 21st. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $28.58.

Shares of Bloom Energy stock opened at $22.08 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.38 and a debt-to-equity ratio of 28.27. The firm has a market cap of $3.83 billion, a PE ratio of -31.10 and a beta of 3.45. The business’s fifty day moving average is $20.32 and its two-hundred day moving average is $22.59. Bloom Energy Co. has a fifty-two week low of $12.37 and a fifty-two week high of $44.95.

Bloom Energy (NYSE:BE) last issued its earnings results on Tuesday, August 3rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.17). The firm had revenue of $228.47 million during the quarter, compared to analysts’ expectations of $235.42 million. Bloom Energy had a negative return on equity of 199.28% and a negative net margin of 13.51%. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period last year, the business posted ($0.23) earnings per share. Equities research analysts anticipate that Bloom Energy Co. will post -0.73 EPS for the current year.

About Bloom Energy

Bloom Energy Corp. engages in the manufacture and installation of on-site distributed power generators. Its product, Bloom Energy Server, converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion. The company was founded by K. R. Sridhar, John Finn, Jim McElroy, Matthias Gottmann and Dien Nguyen on January 18, 2001 and is headquartered in San Jose, CA.

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Institutional Ownership by Quarter for Bloom Energy (NYSE:BE)

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