Bloom Energy Co. (NYSE:BE) Stock Holdings Trimmed by Avalon Trust Co

Avalon Trust Co lessened its position in shares of Bloom Energy Co. (NYSE:BE) by 44.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 264,084 shares of the company’s stock after selling 207,653 shares during the quarter. Avalon Trust Co’s holdings in Bloom Energy were worth $3,908,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in BE. Millburn Ridgefield Corp acquired a new position in Bloom Energy in the third quarter worth $33,000. Allspring Global Investments Holdings LLC grew its position in shares of Bloom Energy by 17.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the company’s stock valued at $102,000 after buying an additional 1,117 shares during the last quarter. AM Investment Strategies LLC acquired a new stake in Bloom Energy during the third quarter worth about $133,000. Tsfg LLC lifted its holdings in Bloom Energy by 11.1% in the fourth quarter. Tsfg LLC now owns 10,006 shares of the company’s stock worth $148,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Chilton Capital Management LLC grew its holdings in shares of Bloom Energy by 73.3% during the fourth quarter. Chilton Capital Management LLC now owns 13,000 shares of the company’s stock valued at $192,000 after purchasing an additional 5,500 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Shawn Marie Soderberg sold 8,963 shares of Bloom Energy stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $9.86, for a total value of $88,375.18. Following the transaction, the insider now directly owns 168,003 shares in the company, valued at approximately $1,656,509.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Bloom Energy news, insider Shawn Marie Soderberg sold 8,963 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $9.86, for a total value of $88,375.18. Following the completion of the transaction, the insider now directly owns 168,003 shares in the company, valued at $1,656,509.58. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kr Sridhar sold 50,746 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $9.74, for a total transaction of $494,266.04. Following the sale, the chief executive officer now owns 2,702,608 shares in the company, valued at approximately $26,323,401.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,989 shares of company stock worth $725,292. Insiders own 8.81% of the company’s stock.

Bloom Energy Price Performance

Bloom Energy stock traded up $0.36 during midday trading on Friday, hitting $11.80. The company’s stock had a trading volume of 4,200,422 shares, compared to its average volume of 5,587,673. Bloom Energy Co. has a 12 month low of $8.41 and a 12 month high of $18.76. The company has a quick ratio of 2.53, a current ratio of 3.60 and a debt-to-equity ratio of 2.41. The stock’s 50-day moving average price is $10.32 and its 200-day moving average price is $11.67. The company has a market capitalization of $2.65 billion, a PE ratio of -8.14 and a beta of 2.77.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BE shares. BMO Capital Markets cut their price target on Bloom Energy from $11.00 to $10.00 and set a “market perform” rating on the stock in a report on Friday, February 16th. Susquehanna cut their price objective on shares of Bloom Energy from $18.00 to $16.00 and set a “positive” rating on the stock in a research report on Wednesday, March 27th. KeyCorp lowered shares of Bloom Energy from an “overweight” rating to a “sector weight” rating in a research note on Friday, February 16th. Redburn Atlantic began coverage on shares of Bloom Energy in a research note on Tuesday, February 6th. They issued a “neutral” rating and a $12.50 price target on the stock. Finally, Bank of America downgraded Bloom Energy from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $16.00 to $10.00 in a research report on Monday, January 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.69.

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.