191,701 Shares in Bloom Energy Co. (NYSE:BE) Purchased by Napean Trading & Investment Co Singapore PTE Ltd

Napean Trading & Investment Co Singapore PTE Ltd acquired a new position in shares of Bloom Energy Co. (NYSE:BE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 191,701 shares of the company’s stock, valued at approximately $2,346,000.

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Bloom Energy in the fourth quarter worth $82,678,000. Electron Capital Partners LLC purchased a new position in Bloom Energy during the 4th quarter valued at about $27,796,000. Coatue Management LLC grew its stake in Bloom Energy by 28.3% during the 4th quarter. Coatue Management LLC now owns 4,436,901 shares of the company’s stock valued at $65,666,000 after acquiring an additional 978,053 shares in the last quarter. Artemis Investment Management LLP acquired a new position in shares of Bloom Energy in the 2nd quarter valued at about $7,502,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Bloom Energy in the fourth quarter worth approximately $7,570,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on BE. Wells Fargo & Company upped their price objective on shares of Bloom Energy from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Monday, May 20th. JPMorgan Chase & Co. upped their price target on shares of Bloom Energy from $12.00 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Truist Financial lifted their price objective on Bloom Energy from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Piper Sandler upped their target price on Bloom Energy from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $15.00 price target on shares of Bloom Energy in a report on Thursday, June 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $15.88.

Bloom Energy Stock Down 9.8 %

Bloom Energy stock opened at $9.95 on Friday. The company has a debt-to-equity ratio of 3.43, a current ratio of 4.65 and a quick ratio of 3.33. Bloom Energy Co. has a fifty-two week low of $8.41 and a fifty-two week high of $18.14. The firm has a fifty day moving average price of $12.35 and a two-hundred day moving average price of $12.04. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of -7.37 and a beta of 2.69.

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

Insiders Place Their Bets

In other news, insider Shawn Marie Soderberg sold 2,094 shares of the 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 completion of the sale, the insider now directly owns 168,867 shares of the company’s stock, valued at $2,453,637.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 8.81% of the company’s stock.

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.