Halter Ferguson Financial Inc. Takes $6.84 Million Position in Bloom Energy Co. (NYSE:BE)

Halter Ferguson Financial Inc. acquired a new stake in Bloom Energy Co. (NYSE:BE) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 461,930 shares of the company’s stock, valued at approximately $6,837,000. Bloom Energy accounts for about 4.4% of Halter Ferguson Financial Inc.’s portfolio, making the stock its 6th largest position. Halter Ferguson Financial Inc. owned about 0.21% of Bloom Energy at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of BE. Vanguard Group Inc. raised its stake in Bloom Energy by 9.3% in the 3rd quarter. Vanguard Group Inc. now owns 19,221,174 shares of the company’s stock worth $254,873,000 after purchasing an additional 1,635,738 shares in the last quarter. Norges Bank bought a new position in Bloom Energy in the 4th quarter valued at about $82,678,000. FMR LLC grew its holdings in shares of Bloom Energy by 168.8% during the 3rd quarter. FMR LLC now owns 3,524,361 shares of the company’s stock valued at $46,733,000 after purchasing an additional 2,213,167 shares during the last quarter. Northern Trust Corp grew its holdings in Bloom Energy by 3.8% during the 3rd quarter. Northern Trust Corp now owns 1,920,938 shares of the company’s stock worth $25,472,000 after acquiring an additional 70,248 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Bloom Energy by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,604,107 shares of the company’s stock worth $23,741,000 after acquiring an additional 25,437 shares during the last quarter. Institutional investors own 77.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered shares of Bloom Energy from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $19.00 to $14.00 in a research report on Friday, February 16th. Susquehanna lowered their target price on shares of Bloom Energy from $18.00 to $16.00 and set a “positive” rating on the stock in a research note on Wednesday, March 27th. Bank of America lowered shares of Bloom Energy from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $16.00 to $10.00 in a report on Monday, January 29th. Raymond James reduced their target price on shares of Bloom Energy from $20.00 to $16.00 and set an “outperform” rating for the company in a report on Friday, February 16th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $22.00 price objective on shares of Bloom Energy in a report on Monday, March 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $15.64.

Bloom Energy Price Performance

NYSE BE traded up $0.56 on Friday, reaching $16.29. 20,110,574 shares of the stock traded hands, compared to its average volume of 6,216,693. The company has a market cap of $3.70 billion, a price-to-earnings ratio of -12.03 and a beta of 2.77. The company has a quick ratio of 2.97, a current ratio of 4.45 and a debt-to-equity ratio of 2.56. The firm’s fifty day simple moving average is $11.27 and its 200 day simple moving average is $11.85. Bloom Energy Co. has a 12 month low of $8.41 and a 12 month high of $18.76.

Bloom Energy (NYSE:BE) last released its earnings results on Thursday, May 9th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). Bloom Energy had a negative return on equity of 19.32% and a negative net margin of 22.27%. The firm had revenue of $235.30 million for the quarter, compared to analyst estimates of $254.06 million. As a group, research analysts predict that Bloom Energy Co. will post -0.26 EPS for the current fiscal year.

Insider Activity

In other Bloom Energy news, CEO Kr Sridhar sold 50,746 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $9.74, for a total transaction of $494,266.04. Following the sale, the chief executive officer now directly owns 2,702,608 shares of the company’s stock, valued at approximately $26,323,401.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Kr Sridhar sold 50,746 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $9.74, for a total transaction of $494,266.04. Following the sale, the chief executive officer now owns 2,702,608 shares in the company, valued at approximately $26,323,401.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eddy Zervigon sold 28,150 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $12.86, for a total transaction of $362,009.00. Following the transaction, the director now directly owns 111,161 shares of the company’s stock, valued at approximately $1,429,530.46. The disclosure for this sale can be found here. Insiders sold 131,291 shares of company stock valued at $1,457,413 in the last quarter. Company insiders own 8.81% 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.