Napean Trading & Investment Co Singapore PTE Ltd Invests $2.35 Million in Bloom Energy Co. (NYSE:BE)

Napean Trading & Investment Co Singapore PTE Ltd purchased a new stake in shares of Bloom Energy Co. (NYSE:BE) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 191,701 shares of the company’s stock, valued at approximately $2,346,000. Napean Trading & Investment Co Singapore PTE Ltd owned approximately 0.08% of Bloom Energy at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BE. Millburn Ridgefield Corp boosted its stake in shares of Bloom Energy by 64.0% during the 1st 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 stake in Bloom Energy in the first quarter valued at $38,000. ORG Partners LLC bought a new position in Bloom Energy during the 2nd quarter valued at $40,000. Quest Partners LLC acquired a new position in Bloom Energy during the 4th quarter worth $51,000. Finally, Gilliland Jeter Wealth Management LLC bought a new stake in shares of Bloom Energy in the 2nd quarter worth about $53,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Analyst Ratings Changes

BE has been the topic of several research analyst reports. Jefferies Financial Group cut shares of Bloom Energy from a “buy” rating to a “hold” rating and reduced their price target for the stock from $15.00 to $11.00 in a research report on Friday. BTIG Research boosted their price target on Bloom Energy from $19.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Truist Financial raised their price objective on Bloom Energy from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Piper Sandler boosted their target price on shares of Bloom Energy from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $15.00 target price on shares of Bloom Energy in a report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $15.88.

Bloom Energy Price Performance

Shares of NYSE BE opened at $9.95 on Friday. The stock has a market cap of $2.26 billion, a P/E ratio of -7.37 and a beta of 2.69. The firm’s 50-day simple moving average is $12.35 and its 200 day simple moving average is $12.04. Bloom Energy Co. has a fifty-two week low of $8.41 and a fifty-two week high of $18.14. The company has a quick ratio of 3.33, a current ratio of 4.65 and a debt-to-equity ratio of 3.43.

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

Insiders Place Their Bets

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

Bloom Energy 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.