Bloom Energy Corporation $BE Holdings Decreased by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC reduced its position in shares of Bloom Energy Corporation (NYSE:BE) by 22.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 31,611 shares of the company’s stock after selling 8,890 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Bloom Energy were worth $756,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Harbour Investments Inc. boosted its holdings in Bloom Energy by 2,160.0% in the first quarter. Harbour Investments Inc. now owns 1,582 shares of the company’s stock worth $31,000 after purchasing an additional 1,512 shares during the period. Banque Transatlantique SA lifted its position in shares of Bloom Energy by 227.6% in the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company’s stock worth $30,000 after buying an additional 1,161 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Bloom Energy by 674.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,867 shares of the company’s stock valued at $37,000 after buying an additional 1,626 shares during the period. Vision Financial Markets LLC acquired a new position in shares of Bloom Energy in the 1st quarter valued at about $39,000. Finally, IFP Advisors Inc grew its position in shares of Bloom Energy by 1,560.8% during the 2nd quarter. IFP Advisors Inc now owns 2,076 shares of the company’s stock valued at $50,000 after buying an additional 1,951 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors.

Insider Activity

In other Bloom Energy news, insider Satish Chitoori sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $45.00, for a total value of $900,000.00. Following the completion of the sale, the insider directly owned 234,493 shares in the company, valued at $10,552,185. This represents a 7.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shawn Marie Soderberg sold 45,000 shares of Bloom Energy stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $43.31, for a total value of $1,948,950.00. Following the transaction, the insider owned 229,682 shares in the company, valued at approximately $9,947,527.42. This trade represents a 16.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 406,964 shares of company stock worth $29,954,235 in the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

BE has been the topic of a number of recent research reports. UBS Group raised their target price on shares of Bloom Energy to $115.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Royal Bank Of Canada reiterated an “outperform” rating and set a $123.00 price target on shares of Bloom Energy in a research report on Monday, October 20th. BMO Capital Markets set a $136.00 price target on Bloom Energy in a report on Wednesday, October 29th. TD Cowen boosted their price objective on Bloom Energy to $105.00 and gave the company a “hold” rating in a research report on Wednesday, October 29th. Finally, Bank of America upped their price objective on Bloom Energy from $24.00 to $26.00 and gave the stock an “underperform” rating in a research note on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Bloom Energy presently has an average rating of “Hold” and a consensus price target of $95.65.

Bloom Energy Stock Down 0.8%

Shares of Bloom Energy stock opened at $135.71 on Friday. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 2.88. Bloom Energy Corporation has a 1-year low of $11.02 and a 1-year high of $147.82. The business’s fifty day moving average price is $91.63 and its two-hundred day moving average price is $49.75. The company has a market capitalization of $31.76 billion, a P/E ratio of 751.17, a PEG ratio of 76.19 and a beta of 3.43.

Bloom Energy (NYSE:BE) last issued 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. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The company had revenue of $519.05 million for the quarter, compared to analyst estimates of $425.18 million. During the same period last year, the company earned ($0.01) earnings per share. The company’s quarterly revenue was up 57.1% compared to the same quarter last year. As a group, research analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current year.

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.