First Republic Investment Management Inc. lessened its holdings in Bloom Energy Corp (NYSE:BE) by 55.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,184 shares of the company’s stock after selling 47,858 shares during the quarter. First Republic Investment Management Inc.’s holdings in Bloom Energy were worth $481,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in Bloom Energy by 127.9% in the second quarter. JPMorgan Chase & Co. now owns 837,885 shares of the company’s stock worth $9,753,000 after acquiring an additional 470,291 shares during the period. Wells Fargo & Company MN grew its stake in Bloom Energy by 11.5% during the second quarter. Wells Fargo & Company MN now owns 490,668 shares of the company’s stock valued at $6,021,000 after acquiring an additional 50,540 shares in the last quarter. Eagle Asset Management Inc. grew its stake in Bloom Energy by 5.4% during the second quarter. Eagle Asset Management Inc. now owns 2,216,824 shares of the company’s stock valued at $27,200,000 after acquiring an additional 114,020 shares in the last quarter. Swiss National Bank purchased a new position in Bloom Energy during the second quarter valued at $1,204,000. Finally, Envestnet Asset Management Inc. grew its stake in Bloom Energy by 95.9% during the second quarter. Envestnet Asset Management Inc. now owns 68,995 shares of the company’s stock valued at $847,000 after acquiring an additional 33,768 shares in the last quarter. Institutional investors own 39.67% of the company’s stock.
Several equities analysts have commented on the stock. Bank of America lowered their price objective on shares of Bloom Energy from $6.00 to $4.00 and set an “underperform” rating for the company in a research report on Tuesday, September 3rd. Zacks Investment Research lowered shares of Bloom Energy from a “hold” rating to a “sell” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. cut their target price on shares of Bloom Energy from $33.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. KeyCorp reissued an “overweight” rating and set a $15.00 target price (down previously from $27.00) on shares of Bloom Energy in a research report on Wednesday, August 14th. Finally, Robert W. Baird decreased their price objective on shares of Bloom Energy from $16.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Bloom Energy has a consensus rating of “Hold” and a consensus price target of $12.88.
Shares of Bloom Energy stock traded down $0.18 during trading hours on Friday, reaching $4.44. 1,817,242 shares of the company’s stock were exchanged, compared to its average volume of 1,489,784. The business has a fifty day moving average of $6.79 and a two-hundred day moving average of $11.09. Bloom Energy Corp has a 1 year low of $4.02 and a 1 year high of $38.00. The company has a quick ratio of 1.44, a current ratio of 1.75 and a debt-to-equity ratio of 10.34. The company has a market capitalization of $524.11 million, a P/E ratio of -1.83 and a beta of 3.31.
Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.59) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.59). The business had revenue of $233.80 million for the quarter, compared to analysts’ expectations of $207.56 million. Bloom Energy had a negative net margin of 38.77% and a negative return on equity of 539.17%. The company’s quarterly revenue was up 38.4% compared to the same quarter last year. As a group, research analysts predict that Bloom Energy Corp will post -2.07 EPS for the current year.
Bloom Energy Company Profile
Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems for on-site power generation. The company offers Bloom Energy Server, a stationary power generation platform that converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion.
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