Bloom Energy Co. (NYSE:BE) Shares Acquired by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp raised its holdings in shares of Bloom Energy Co. (NYSE:BE) by 5.3% in the 4th quarter, HoldingsChannel reports. The fund owned 272,149 shares of the company’s stock after buying an additional 13,644 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Bloom Energy were worth $4,028,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in BE. Vanguard Group Inc. lifted its holdings in shares of Bloom Energy by 9.3% in the 3rd quarter. Vanguard Group Inc. now owns 19,221,174 shares of the company’s stock valued at $254,873,000 after purchasing an additional 1,635,738 shares during the last quarter. Norges Bank purchased a new stake in shares of Bloom Energy in the 4th quarter valued at about $82,678,000. FMR LLC lifted its holdings in shares of Bloom Energy by 168.8% in 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 lifted its holdings in shares of Bloom Energy by 3.8% in the 3rd quarter. Northern Trust Corp now owns 1,920,938 shares of the company’s stock valued at $25,472,000 after purchasing an additional 70,248 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake 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 valued at $23,741,000 after acquiring an additional 25,437 shares during the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

Bloom Energy Trading Down 4.6 %

Shares of Bloom Energy stock traded down $0.73 during trading hours on Tuesday, reaching $15.02. 6,328,892 shares of the company’s stock were exchanged, compared to its average volume of 6,361,652. Bloom Energy Co. has a 52-week low of $8.41 and a 52-week high of $18.76. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of -11.05 and a beta of 2.82. The company has a fifty day moving average of $12.18 and a 200-day moving average of $12.11. The company has a current ratio of 4.45, a quick ratio of 2.97 and a debt-to-equity ratio of 2.56.

Bloom Energy (NYSE:BE) last issued its quarterly 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 business had revenue of $235.30 million for the quarter, compared to analysts’ expectations of $254.06 million. Sell-side analysts forecast that Bloom Energy Co. will post -0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Kr Sridhar sold 50,746 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $9.74, for a total value of $494,266.04. Following the transaction, 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 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 on Monday, March 18th. The stock was sold at an average price of $9.74, for a total value of $494,266.04. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eddy Zervigon sold 28,150 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $12.86, for a total value of $362,009.00. Following the completion of the transaction, the director now directly owns 111,161 shares in the company, valued at $1,429,530.46. The disclosure for this sale can be found here. Insiders have sold a total of 131,291 shares of company stock valued at $1,457,413 in the last quarter. 3.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BE has been the subject of several analyst reports. Susquehanna reduced their price objective on Bloom Energy from $18.00 to $16.00 and set a “positive” rating for the company in a research note on Wednesday, March 27th. Redburn Atlantic initiated coverage on Bloom Energy in a research note on Tuesday, February 6th. They set a “neutral” rating and a $12.50 price objective for the company. Piper Sandler reduced their price objective on Bloom Energy from $14.00 to $11.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. JPMorgan Chase & Co. downgraded Bloom Energy from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $19.00 to $14.00 in a research note on Friday, February 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Bloom Energy in a research note on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.64.

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.