Torray Investment Partners LLC Sells 32,689 Shares of Bloom Energy Corporation $BE

Torray Investment Partners LLC decreased its stake in shares of Bloom Energy Corporation (NYSE:BE) by 47.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,631 shares of the company’s stock after selling 32,689 shares during the period. Torray Investment Partners LLC’s holdings in Bloom Energy were worth $3,098,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cranbrook Wealth Management LLC bought a new position in Bloom Energy during the 3rd quarter worth about $39,000. Elevation Point Wealth Partners LLC bought a new position in shares of Bloom Energy during the second quarter worth about $36,000. Sound Income Strategies LLC raised its position in Bloom Energy by 75.7% in the 3rd quarter. Sound Income Strategies LLC now owns 1,553 shares of the company’s stock valued at $135,000 after buying an additional 669 shares during the last quarter. NewEdge Advisors LLC lifted its stake in 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 acquiring an additional 1,626 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in Bloom Energy by 1,560.8% during the 2nd quarter. IFP Advisors Inc now owns 2,076 shares of the company’s stock worth $50,000 after acquiring an additional 1,951 shares during the last quarter. 77.04% of the stock is owned by institutional investors.

Insider Buying and Selling at Bloom Energy

In other news, Director Mary K. Bush sold 36,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $142.82, for a total value of $5,141,520.00. Following the completion of the sale, the director directly owned 133,524 shares of the company’s stock, valued at $19,069,897.68. This trade represents a 21.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Shawn Marie Soderberg sold 36,666 shares of Bloom Energy stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $141.00, for a total value of $5,169,906.00. Following the transaction, the insider owned 225,949 shares of the company’s stock, valued at $31,858,809. This represents a 13.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 120,410 shares of company stock valued at $16,557,185 in the last three months. Corporate insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

BE has been the topic of a number of recent research reports. TD Cowen lifted their price objective on shares of Bloom Energy to $105.00 and gave the company a “hold” rating in a report on Wednesday, October 29th. Bank of America raised their target price on shares of Bloom Energy from $26.00 to $39.00 and gave the company an “underperform” rating in a research report on Tuesday, November 25th. Oppenheimer reissued a “market perform” rating on shares of Bloom Energy in a research report on Wednesday, October 29th. Royal Bank Of Canada restated an “outperform” rating and set a $123.00 price objective on shares of Bloom Energy in a research note on Monday, October 20th. Finally, Wells Fargo & Company raised their price objective on Bloom Energy to $95.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Bloom Energy currently has a consensus rating of “Hold” and an average price target of $93.77.

Bloom Energy Stock Performance

NYSE BE opened at $103.81 on Tuesday. The firm has a market capitalization of $24.55 billion, a P/E ratio of 482.72, a price-to-earnings-growth ratio of 8.31 and a beta of 3.01. The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98. The firm’s fifty day moving average price is $106.14 and its two-hundred day moving average price is $73.34. Bloom Energy Corporation has a 1 year low of $15.15 and a 1 year high of $147.86.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data 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 the consensus estimate of $425.18 million. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The company’s quarterly revenue was up 57.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.01) EPS. As a group, research analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current year.

Bloom Energy Company Profile

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.