John G Ullman & Associates Inc. Decreases Stake in Bloom Energy Co. (NYSE:BE)

John G Ullman & Associates Inc. lowered its position in shares of Bloom Energy Co. (NYSE:BE) by 65.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 27,700 shares of the company’s stock after selling 53,500 shares during the quarter. John G Ullman & Associates Inc.’s holdings in Bloom Energy were worth $311,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Bloom Energy by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 19,528,801 shares of the company’s stock worth $289,026,000 after acquiring an additional 307,627 shares during the period. Norges Bank purchased a new position in Bloom Energy in the 4th quarter worth approximately $82,678,000. Coatue Management LLC raised its position in shares of Bloom Energy by 28.3% in the 4th quarter. Coatue Management LLC now owns 4,436,901 shares of the company’s stock valued at $65,666,000 after purchasing an additional 978,053 shares in the last quarter. Electron Capital Partners LLC acquired a new position in shares of Bloom Energy in the 4th quarter valued at approximately $27,796,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Bloom Energy by 1.6% in 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 purchasing an additional 25,437 shares in the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Bloom Energy Stock Up 3.2 %

NYSE BE traded up $0.43 on Friday, reaching $13.80. The company had a trading volume of 849,515 shares, compared to its average volume of 6,162,306. The stock’s 50 day moving average is $13.66 and its 200-day moving average is $12.06. 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 Co. has a 52 week low of $8.41 and a 52 week high of $18.76.

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

Analyst Upgrades and Downgrades

BE has been the topic of a number of recent analyst reports. BTIG Research upped their target price 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 dropped their price target on Bloom Energy from $18.00 to $16.00 and set a “positive” rating on the stock in a research report on Wednesday, March 27th. Morgan Stanley reissued an “overweight” rating and set a $22.00 price target on shares of Bloom Energy in a research report on Monday, March 25th. Royal Bank of Canada reissued an “outperform” rating and set a $15.00 price target on shares of Bloom Energy in a research report on Thursday, June 20th. Finally, TD Cowen upped their price target on Bloom Energy from $10.00 to $13.00 and gave the company a “hold” rating in a research report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bloom Energy currently has an average rating of “Hold” and an average target price of $15.69.

Insider Activity at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 40,112 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $11.93, for a total value of $478,536.16. Following the completion of the sale, the chief executive officer now directly owns 2,742,496 shares in the company, valued at $32,717,977.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Bloom Energy news, CEO Kr Sridhar sold 40,112 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $11.93, for a total value of $478,536.16. Following the completion of the sale, the chief executive officer now directly owns 2,742,496 shares in the company, valued at $32,717,977.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $362,009.00. Following the completion of the sale, the director now owns 111,161 shares of the company’s stock, valued at $1,429,530.46. The disclosure for this sale can be found here. Over the last quarter, insiders sold 78,385 shares of company stock worth $943,038. 8.81% of the stock is owned by insiders.

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.