Van ECK Associates Corp Boosts Holdings in Bloom Energy Co. (NYSE:BE)

Van ECK Associates Corp boosted its stake in Bloom Energy Co. (NYSE:BE) by 19.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,012,547 shares of the company’s stock after acquiring an additional 162,968 shares during the period. Van ECK Associates Corp owned about 0.45% of Bloom Energy worth $11,381,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Bloom Energy by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 19,528,801 shares of the company’s stock worth $289,026,000 after buying an additional 307,627 shares during the last quarter. Deutsche Bank AG boosted its stake in Bloom Energy by 6.2% during the 3rd quarter. Deutsche Bank AG now owns 971,194 shares of the company’s stock worth $12,878,000 after purchasing an additional 57,090 shares during the period. Electron Capital Partners LLC purchased a new position in Bloom Energy during the 4th quarter worth $27,796,000. Norges Bank acquired a new position in Bloom Energy in the fourth quarter valued at $82,678,000. Finally, KBC Group NV raised its holdings in shares of Bloom Energy by 26.1% in the fourth quarter. KBC Group NV now owns 586,242 shares of the company’s stock valued at $8,676,000 after buying an additional 121,287 shares during the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

Analysts Set New Price Targets

BE has been the topic of several recent research reports. BTIG Research boosted their price target on Bloom Energy from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Susquehanna cut their price target 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. Evercore ISI lowered their price objective on shares of Bloom Energy from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. TD Cowen upped their price objective on shares of Bloom Energy from $10.00 to $13.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $15.00 target price on shares of Bloom Energy in a report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Bloom Energy presently has a consensus rating of “Hold” and a consensus target price of $15.69.

Bloom Energy Price Performance

Shares of BE traded up $0.27 during mid-day trading on Friday, reaching $12.12. 3,461,476 shares of the company’s stock were exchanged, compared to its average volume of 6,258,479. Bloom Energy Co. has a 52-week low of $8.41 and a 52-week high of $18.76. 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 company has a 50-day simple moving average of $13.51 and a two-hundred day simple moving average of $12.12. The company has a market cap of $2.75 billion, a price-to-earnings ratio of -8.93 and a beta of 2.80.

Bloom Energy (NYSE:BE) last released 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). The company had revenue of $235.30 million during the quarter, compared to analyst estimates of $254.06 million. Bloom Energy had a negative return on equity of 19.32% and a negative net margin of 22.27%. On average, sell-side analysts predict that Bloom Energy Co. will post -0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bloom Energy news, insider Shawn Marie Soderberg sold 8,963 shares of the business’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $9.86, for a total value of $88,375.18. Following the completion of the transaction, the insider now directly owns 168,003 shares in the company, valued at approximately $1,656,509.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Bloom Energy news, insider Shawn Marie Soderberg sold 8,963 shares of Bloom Energy stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $9.86, for a total value of $88,375.18. Following the completion of the sale, the insider now owns 168,003 shares in the company, valued at approximately $1,656,509.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eddy Zervigon sold 28,150 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $12.86, for a total transaction of $362,009.00. Following the transaction, the director now 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 78,385 shares of company stock valued at $943,038 in the last ninety days. Insiders own 3.50% 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.