Emerald Advisers LLC Invests $248,000 in Bloom Energy Co. (NYSE:BE)

Emerald Advisers LLC purchased a new stake in Bloom Energy Co. (NYSE:BE) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 23,471 shares of the company’s stock, valued at approximately $248,000.

A number of other institutional investors have also recently bought and sold shares of BE. Electron Capital Partners LLC boosted its holdings in shares of Bloom Energy by 131.5% in the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after buying an additional 1,790,733 shares during the period. Artemis Investment Management LLP acquired a new position in Bloom Energy in the 2nd quarter worth approximately $7,502,000. DigitalBridge Group Inc. grew its position in Bloom Energy by 66.3% during the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock worth $14,203,000 after purchasing an additional 462,581 shares in the last quarter. Pier Capital LLC acquired a new stake in Bloom Energy during the 2nd quarter valued at $5,602,000. Finally, DekaBank Deutsche Girozentrale raised its stake in Bloom Energy by 762.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 504,591 shares of the company’s stock valued at $5,712,000 after purchasing an additional 446,074 shares during the period. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Bloom Energy Stock Up 3.5 %

Shares of BE stock opened at $9.94 on Monday. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of -7.65 and a beta of 2.71. The company has a debt-to-equity ratio of 3.43, a quick ratio of 3.33 and a current ratio of 4.65. The stock’s 50 day simple moving average is $10.46 and its 200 day simple moving average is $12.07. Bloom Energy Co. has a twelve month low of $8.41 and a twelve month high of $18.14.

Bloom Energy (NYSE:BE) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). Bloom Energy had a negative net margin of 21.37% and a negative return on equity of 11.90%. The business had revenue of $335.80 million during the quarter, compared to analysts’ expectations of $307.73 million. During the same period in the previous year, the company earned ($0.32) earnings per share. Bloom Energy’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, research analysts predict that Bloom Energy Co. will post -0.27 EPS for the current year.

Wall Street Analysts Forecast Growth

BE has been the topic of a number of research analyst reports. Jefferies Financial Group downgraded Bloom Energy from a “buy” rating to a “hold” rating and lowered their price target for the company from $15.00 to $11.00 in a report on Friday, September 6th. UBS Group lowered their target price on Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. JPMorgan Chase & Co. increased their price target on shares of Bloom Energy from $12.00 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Susquehanna decreased their price target on shares of Bloom Energy from $16.00 to $13.00 and set a “positive” rating for the company in a report on Wednesday, October 16th. Finally, Truist Financial dropped their price objective on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.39.

About Bloom Energy

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.