First Foundation Advisors Has $1.05 Million Position in Bloom Energy Co. (NYSE:BE)

First Foundation Advisors reduced its stake in shares of Bloom Energy Co. (NYSE:BE) by 7.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,481 shares of the company’s stock after selling 7,718 shares during the quarter. First Foundation Advisors’ holdings in Bloom Energy were worth $1,051,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Bloom Energy in the fourth quarter valued at $82,678,000. Electron Capital Partners LLC acquired a new stake in shares of Bloom Energy in the fourth quarter valued at $27,796,000. Vanguard Group Inc. increased its stake in shares of Bloom Energy by 9.3% in the third quarter. Vanguard Group Inc. now owns 19,221,174 shares of the company’s stock valued at $254,873,000 after buying an additional 1,635,738 shares in the last quarter. Coatue Management LLC increased its stake in shares of Bloom Energy by 28.3% in the fourth quarter. Coatue Management LLC now owns 4,436,901 shares of the company’s stock valued at $65,666,000 after buying an additional 978,053 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Bloom Energy in the fourth quarter valued at $7,570,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Shawn Marie Soderberg sold 2,094 shares of Bloom Energy stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $14.53, for a total value of $30,425.82. Following the sale, the insider now owns 168,867 shares of the company’s stock, valued at approximately $2,453,637.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Shawn Marie Soderberg sold 2,094 shares of Bloom Energy stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $14.53, for a total value of $30,425.82. Following the sale, the insider now owns 168,867 shares of the company’s stock, valued at approximately $2,453,637.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eddy Zervigon sold 28,150 shares of Bloom Energy stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $12.86, for a total value of $362,009.00. Following the completion of the sale, the director now directly owns 111,161 shares in the company, valued at approximately $1,429,530.46. The disclosure for this sale can be found here. Insiders have sold 71,516 shares of company stock worth $885,088 in the last 90 days. Corporate insiders own 8.81% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on BE shares. BTIG Research raised their target price on Bloom Energy from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Morgan Stanley reiterated an “overweight” rating and issued a $22.00 price target on shares of Bloom Energy in a report on Monday, March 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $15.00 price target on shares of Bloom Energy in a report on Thursday, June 20th. Bank of America raised their price target on Bloom Energy from $8.00 to $9.00 and gave the company an “underperform” rating in a report on Wednesday. Finally, Susquehanna decreased their price target on Bloom Energy from $18.00 to $16.00 and set a “positive” rating on the stock in a report on Wednesday, March 27th. 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. According to data from MarketBeat, Bloom Energy has a consensus rating of “Hold” and a consensus price target of $15.64.

Bloom Energy Stock Down 3.2 %

Shares of NYSE:BE traded down $0.47 during trading on Friday, hitting $14.18. 4,259,282 shares of the company’s stock traded hands, compared to its average volume of 6,241,007. Bloom Energy Co. has a 52 week low of $8.41 and a 52 week high of $18.20. The company has a current ratio of 4.45, a quick ratio of 2.97 and a debt-to-equity ratio of 2.56. The company has a market cap of $3.22 billion, a price-to-earnings ratio of -10.50 and a beta of 2.80. The company has a 50-day moving average price of $14.00 and a 200-day moving average price of $12.04.

Bloom Energy (NYSE:BE) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.09). Bloom Energy had a negative net margin of 22.27% and a negative return on equity of 19.32%. The business had revenue of $235.30 million for the quarter, compared to the consensus estimate of $254.06 million. As a group, research analysts forecast that Bloom Energy Co. will post -0.26 EPS for the current fiscal year.

About Bloom Energy

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.