Flputnam Investment Management Co. Acquires 57,397 Shares of Bloom Energy Co. (NYSE:BE)

Flputnam Investment Management Co. raised its holdings in shares of Bloom Energy Co. (NYSE:BE) by 57.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 157,676 shares of the company’s stock after acquiring an additional 57,397 shares during the quarter. Flputnam Investment Management Co. owned about 0.07% of Bloom Energy worth $2,334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bank of New York Mellon Corp grew its position in shares of Bloom Energy by 13.0% during the 1st quarter. Bank of New York Mellon Corp now owns 566,033 shares of the company’s stock valued at $13,669,000 after purchasing an additional 64,919 shares in the last quarter. AlphaCrest Capital Management LLC purchased a new position in Bloom Energy in the first quarter worth $337,000. Bank of Montreal Can grew its position in Bloom Energy by 8.1% in the first quarter. Bank of Montreal Can now owns 63,498 shares of the company’s stock worth $1,559,000 after acquiring an additional 4,781 shares in the last quarter. MetLife Investment Management LLC grew its position in Bloom Energy by 53.5% in the first quarter. MetLife Investment Management LLC now owns 76,115 shares of the company’s stock worth $1,838,000 after acquiring an additional 26,537 shares in the last quarter. Finally, Panagora Asset Management Inc. purchased a new position in Bloom Energy in the first quarter worth $1,016,000. Institutional investors own 77.04% of the company’s stock.

Analyst Upgrades and Downgrades

BE has been the subject of several recent research reports. Royal Bank of Canada lowered their price target on shares of Bloom Energy from $21.00 to $14.00 and set an “outperform” rating for the company in a research note on Friday, February 16th. Piper Sandler lowered their price target on shares of Bloom Energy from $14.00 to $11.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. BTIG Research initiated coverage on shares of Bloom Energy in a research note on Thursday, January 25th. They set a “buy” rating and a $21.00 price objective for the company. Bank of America downgraded shares of Bloom Energy from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $16.00 to $10.00 in a research note on Monday, January 29th. Finally, Redburn Atlantic initiated coverage on shares of Bloom Energy in a research note on Tuesday, February 6th. They set a “neutral” rating and a $12.50 price objective for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $16.69.

Insiders Place Their Bets

In other Bloom Energy news, CEO Kr Sridhar sold 50,746 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $9.74, for a total value of $494,266.04. Following the transaction, the chief executive officer now directly owns 2,702,608 shares in the company, valued at $26,323,401.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Kr Sridhar sold 50,746 shares of the firm’s stock in a transaction 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 directly owns 2,702,608 shares in the company, valued at approximately $26,323,401.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Shawn Marie Soderberg sold 13,120 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $9.34, for a total transaction of $122,540.80. Following the sale, the executive vice president now owns 73,946 shares in the company, valued at $690,655.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,026 shares of company stock worth $636,916. Company insiders own 3.50% of the company’s stock.

Bloom Energy Trading Down 3.7 %

Shares of BE stock opened at $9.86 on Wednesday. Bloom Energy Co. has a 12-month low of $8.41 and a 12-month high of $18.77. 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 firm’s 50 day moving average is $10.38 and its 200 day moving average is $11.79.

Bloom Energy (NYSE:BE) last issued its earnings results on Thursday, February 15th. The company reported $0.05 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $481.90 million. On average, equities analysts expect that Bloom Energy Co. will post -0.17 earnings per share for the current fiscal year.

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.