Cresset Asset Management LLC Sells 3,354 Shares of Bloom Energy Co. (NYSE:BE)

Cresset Asset Management LLC trimmed its position in shares of Bloom Energy Co. (NYSE:BE) by 16.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,734 shares of the company’s stock after selling 3,354 shares during the period. Cresset Asset Management LLC’s holdings in Bloom Energy were worth $372,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its stake in Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after acquiring an additional 934 shares during the period. Mainstream Capital Management LLC bought a new position in Bloom Energy during the fourth quarter valued at about $28,000. Jones Financial Companies Lllp increased its stake in Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after acquiring an additional 812 shares during the period. Quarry LP bought a new position in Bloom Energy during the fourth quarter valued at about $35,000. Finally, Avior Wealth Management LLC bought a new position in Bloom Energy during the fourth quarter valued at about $40,000. 77.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BE shares. HSBC upgraded Bloom Energy from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Tuesday, April 8th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Bloom Energy in a report on Friday, February 28th. Redburn Atlantic downgraded Bloom Energy from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $14.50 to $10.00 in a report on Wednesday, April 9th. Robert W. Baird decreased their price objective on Bloom Energy from $32.00 to $27.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Finally, Roth Mkm decreased their price objective on Bloom Energy from $26.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $22.47.

Insider Buying and Selling

In related news, insider Shawn Marie Soderberg sold 2,780 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total value of $54,821.60. Following the completion of the transaction, the insider now owns 152,890 shares in the company, valued at $3,014,990.80. The trade was a 1.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Kr Sridhar sold 42,383 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $19.14, for a total transaction of $811,210.62. Following the sale, the chief executive officer now owns 2,724,613 shares of the company’s stock, valued at $52,149,092.82. The trade was a 1.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,879 shares of company stock worth $1,023,690 in the last quarter. Insiders own 3.50% of the company’s stock.

Bloom Energy Stock Down 2.2%

Shares of BE opened at $19.81 on Friday. The company has a market capitalization of $4.60 billion, a P/E ratio of -35.37 and a beta of 3.25. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. Bloom Energy Co. has a one year low of $9.02 and a one year high of $29.83. The business’s 50 day simple moving average is $19.55 and its 200-day simple moving average is $21.55.

Bloom Energy (NYSE:BE) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.10. Bloom Energy had a negative net margin of 10.29% and a negative return on equity of 20.32%. The firm had revenue of $326.02 million during the quarter, compared to analysts’ expectations of $294.27 million. During the same quarter in the previous year, the company posted ($0.17) EPS. Bloom Energy’s revenue was up 38.5% on a year-over-year basis. As a group, sell-side analysts predict that Bloom Energy Co. will post -0.23 EPS 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.