Bloom Energy Co. (NYSE:BE) Short Interest Down 5.1% in August

Bloom Energy Co. (NYSE:BE) saw a significant decrease in short interest in the month of August. As of August 15th, there was short interest totalling 41,930,000 shares, a decrease of 5.1% from the July 31st total of 44,190,000 shares. Based on an average daily trading volume, of 6,280,000 shares, the short-interest ratio is currently 6.7 days.

Insiders Place Their Bets

In other Bloom Energy news, insider Shawn Marie Soderberg sold 2,094 shares of Bloom Energy stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $14.53, for a total value of $30,425.82. Following the transaction, the insider now owns 168,867 shares in the company, valued at $2,453,637.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.81% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Millburn Ridgefield Corp lifted its position in Bloom Energy by 64.0% in the first quarter. Millburn Ridgefield Corp now owns 3,296 shares of the company’s stock valued at $37,000 after buying an additional 1,286 shares during the last quarter. BNP Paribas acquired a new position in shares of Bloom Energy in the 1st quarter worth approximately $38,000. ORG Partners LLC acquired a new position in shares of Bloom Energy in the 2nd quarter worth approximately $40,000. Quest Partners LLC boosted its position in shares of Bloom Energy by 2,780.0% during the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after purchasing an additional 3,475 shares during the period. Finally, Gilliland Jeter Wealth Management LLC acquired a new stake in Bloom Energy in the 2nd quarter valued at approximately $53,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Price Performance

NYSE:BE opened at $11.18 on Thursday. Bloom Energy has a one year low of $8.41 and a one year high of $18.14. The stock has a market cap of $2.54 billion, a PE ratio of -8.28 and a beta of 2.69. The company has a debt-to-equity ratio of 3.43, a quick ratio of 3.33 and a current ratio of 4.65. The stock has a 50 day moving average price of $12.44 and a 200 day moving average price of $12.02.

Bloom Energy (NYSE:BE) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). Bloom Energy had a negative net margin of 21.37% and a negative return on equity of 11.90%. The firm had revenue of $335.80 million for the quarter, compared to analysts’ expectations of $307.73 million. During the same quarter in the previous year, the company posted ($0.32) EPS. The company’s revenue was up 11.5% compared to the same quarter last year. Equities research analysts expect that Bloom Energy will post -0.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BE has been the topic of several research analyst reports. Evercore ISI dropped their target price on Bloom Energy from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Wells Fargo & Company boosted their price target on Bloom Energy from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Monday, May 20th. UBS Group decreased their price objective on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. BTIG Research boosted their target price on shares of Bloom Energy from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Finally, Piper Sandler raised their price target on shares of Bloom Energy from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.08.

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.