Clearbridge Investments LLC Purchases 5,219 Shares of Bloom Energy Co. (NYSE:BE)

Clearbridge Investments LLC grew its position in shares of Bloom Energy Co. (NYSE:BE) by 0.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,312,808 shares of the company’s stock after buying an additional 5,219 shares during the quarter. Clearbridge Investments LLC’s holdings in Bloom Energy were worth $62,145,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. O Shaughnessy Asset Management LLC bought a new stake in Bloom Energy during the first quarter worth about $36,000. Northwestern Mutual Wealth Management Co. bought a new stake in Bloom Energy during the second quarter worth about $45,000. Point72 Hong Kong Ltd bought a new stake in Bloom Energy during the first quarter worth about $47,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Bloom Energy during the first quarter worth about $60,000. Finally, Bbva USA acquired a new position in shares of Bloom Energy during the second quarter worth approximately $61,000. 58.14% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on BE. Zacks Investment Research upgraded shares of Bloom Energy from a “sell” rating to a “hold” rating in a research report on Monday, October 4th. Raymond James upgraded shares of Bloom Energy from an “outperform” rating to a “strong-buy” rating and reduced their target price for the stock from $33.00 to $29.00 in a research report on Tuesday, October 5th. JPMorgan Chase & Co. upped their target price on shares of Bloom Energy from $29.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 21st. Wolfe Research began coverage on shares of Bloom Energy in a research report on Tuesday, August 31st. They set a “peer perform” rating and a $25.00 target price on the stock. Finally, BMO Capital Markets began coverage on shares of Bloom Energy in a research report on Thursday, September 30th. They set a “market perform” rating and a $22.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $28.58.

In other news, EVP Glen Griffiths sold 2,961 shares of the firm’s stock in a transaction dated Thursday, September 16th. The shares were sold at an average price of $18.91, for a total transaction of $55,992.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gregory D. Cameron sold 40,000 shares of Bloom Energy stock in a transaction dated Wednesday, August 11th. The stock was sold at an average price of $21.84, for a total transaction of $873,600.00. Following the completion of the sale, the chief financial officer now owns 30,890 shares of the company’s stock, valued at approximately $674,637.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,069 shares of company stock valued at $1,320,282. Corporate insiders own 15.86% of the company’s stock.

Bloom Energy stock opened at $22.08 on Thursday. The company has a market cap of $3.83 billion, a P/E ratio of -31.10 and a beta of 3.45. Bloom Energy Co. has a 1-year low of $12.37 and a 1-year high of $44.95. The company has a fifty day simple moving average of $20.32 and a 200 day simple moving average of $22.59. The company has a current ratio of 1.38, a quick ratio of 0.98 and a debt-to-equity ratio of 28.27.

Bloom Energy (NYSE:BE) last announced its quarterly earnings results on Tuesday, August 3rd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.17). The firm had revenue of $228.47 million during the quarter, compared to analyst estimates of $235.42 million. Bloom Energy had a negative net margin of 13.51% and a negative return on equity of 199.28%. The business’s revenue was up 21.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.23) EPS. On average, equities research analysts forecast that Bloom Energy Co. will post -0.73 EPS for the current year.

Bloom Energy Company Profile

Bloom Energy Corp. engages in the manufacture and installation of on-site distributed power generators. Its product, Bloom Energy Server, converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion. The company was founded by K. R. Sridhar, John Finn, Jim McElroy, Matthias Gottmann and Dien Nguyen on January 18, 2001 and is headquartered in San Jose, CA.

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Institutional Ownership by Quarter for Bloom Energy (NYSE:BE)

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