US Bancorp DE lowered its position in Bloom Energy Co. (NYSE:BE) by 93.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 2,310 shares of the company’s stock after selling 31,205 shares during the quarter. US Bancorp DE’s holdings in Bloom Energy were worth $62,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in BE. Ameriprise Financial Inc. increased its stake in shares of Bloom Energy by 31.0% during the first quarter. Ameriprise Financial Inc. now owns 17,015,574 shares of the company’s stock valued at $460,035,000 after acquiring an additional 4,026,498 shares during the period. Elemental Capital Partners LLC acquired a new position in shares of Bloom Energy during the first quarter valued at approximately $30,607,000. Renaissance Technologies LLC acquired a new position in shares of Bloom Energy during the first quarter valued at approximately $32,165,000. FMR LLC acquired a new position in shares of Bloom Energy during the first quarter valued at approximately $11,026,000. Finally, BlackRock Inc. increased its stake in shares of Bloom Energy by 12.6% during the first quarter. BlackRock Inc. now owns 7,510,904 shares of the company’s stock valued at $203,170,000 after acquiring an additional 839,489 shares during the period. Institutional investors own 58.14% of the company’s stock.
BE has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Bloom Energy from a “sell” rating to a “hold” rating in a research report on Monday, July 26th. Wolfe Research initiated coverage on shares of Bloom Energy in a research report on Tuesday, August 31st. They issued a “peer perform” rating and a $25.00 price target on the stock. JPMorgan Chase & Co. lifted their price target 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. Bank of America upgraded shares of Bloom Energy from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $19.50 to $25.00 in a research report on Thursday, June 3rd. Finally, Morgan Stanley decreased their price target on shares of Bloom Energy from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 19th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Bloom Energy has an average rating of “Buy” and a consensus target price of $30.40.
Shares of NYSE:BE opened at $18.71 on Tuesday. The firm has a fifty day moving average of $21.12 and a two-hundred day moving average of $23.57. The firm has a market capitalization of $3.25 billion, a P/E ratio of -27.56 and a beta of 3.47. Bloom Energy Co. has a 12-month low of $12.37 and a 12-month high of $44.95. The company has a quick ratio of 0.98, a current ratio of 1.38 and a debt-to-equity ratio of 28.27.
Bloom Energy (NYSE:BE) last issued its earnings results on Tuesday, August 3rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.17). The company had revenue of $228.47 million for 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 company’s quarterly revenue was up 21.6% on a year-over-year basis. During the same period last year, the business earned ($0.23) EPS. Equities research analysts expect that Bloom Energy Co. will post -0.68 earnings per share for the current fiscal 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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