Bloom Energy Co. (NYSE:BE) Shares Sold by Hartline Investment Corp

Hartline Investment Corp reduced its holdings in shares of Bloom Energy Co. (NYSE:BE) by 55.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,954 shares of the company’s stock after selling 117,641 shares during the quarter. Hartline Investment Corp’s holdings in Bloom Energy were worth $1,391,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Deutsche Bank AG grew its stake in Bloom Energy by 6.2% during the third quarter. Deutsche Bank AG now owns 971,194 shares of the company’s stock worth $12,878,000 after buying an additional 57,090 shares during the period. FMR LLC boosted its stake in shares of Bloom Energy by 168.8% in the third quarter. FMR LLC now owns 3,524,361 shares of the company’s stock valued at $46,733,000 after purchasing an additional 2,213,167 shares during the period. Dark Forest Capital Management LP purchased a new position in shares of Bloom Energy in the third quarter valued at $1,567,000. Vanguard Group Inc. boosted 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 purchasing an additional 1,635,738 shares during the period. Finally, Pinnacle Associates Ltd. boosted its stake in shares of Bloom Energy by 65.2% in the third quarter. Pinnacle Associates Ltd. now owns 582,039 shares of the company’s stock valued at $7,718,000 after purchasing an additional 229,639 shares during the period. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BE has been the subject of several analyst reports. Truist Financial upgraded shares of Bloom Energy from a “sell” rating to a “hold” rating and upped their target price for the company from $9.00 to $11.00 in a research note on Wednesday, March 6th. Susquehanna decreased their target price on shares of Bloom Energy from $18.00 to $16.00 and set a “positive” rating for the company in a research note on Wednesday, March 27th. Robert W. Baird upgraded shares of Bloom Energy from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $16.00 to $22.00 in a research note on Wednesday, January 10th. Evercore ISI started coverage on shares of Bloom Energy in a research note on Monday, April 1st. They set an “outperform” rating and a $21.00 price objective on the stock. Finally, Bank of America downgraded shares of Bloom Energy from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $16.00 to $10.00 in a research note on Monday, January 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.69.

Bloom Energy Price Performance

Shares of NYSE:BE traded down $0.19 during trading hours on Wednesday, hitting $9.64. 3,898,630 shares of the company’s stock traded hands, compared to its average volume of 5,596,327. Bloom Energy Co. has a 52 week low of $8.41 and a 52 week high of $18.76. The company has a debt-to-equity ratio of 2.41, a quick ratio of 2.53 and a current ratio of 3.60. The company’s fifty day simple moving average is $10.16 and its two-hundred day simple moving average is $11.71. The company has a market cap of $2.17 billion, a price-to-earnings ratio of -6.63 and a beta of 2.79.

Bloom Energy (NYSE:BE) last posted its quarterly earnings data on Thursday, February 15th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.11. Bloom Energy had a negative net margin of 22.66% and a negative return on equity of 23.88%. The company had revenue of $356.92 million during the quarter, compared to analyst estimates of $481.90 million. As a group, equities analysts anticipate that Bloom Energy Co. will post -0.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Shawn Marie Soderberg sold 13,120 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $9.34, for a total value of $122,540.80. Following the completion of the sale, the executive vice president now directly owns 73,946 shares of the company’s stock, valued at $690,655.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Shawn Marie Soderberg sold 13,120 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $9.34, for a total value of $122,540.80. Following the completion of the sale, the executive vice president now directly owns 73,946 shares of the company’s stock, valued at $690,655.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kr Sridhar sold 50,746 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $9.74, for a total transaction of $494,266.04. Following the completion of the sale, the chief executive officer now directly owns 2,702,608 shares of the company’s stock, valued at $26,323,401.92. The disclosure for this sale can be found here. Insiders sold a total of 74,989 shares of company stock worth $725,292 over the last ninety days. 3.50% of the stock is currently owned by company 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.