Man Group plc Trims Holdings in Bloom Energy Co. (NYSE:BE)

Man Group plc trimmed its position in Bloom Energy Co. (NYSE:BE) by 79.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 530,323 shares of the company’s stock after selling 2,009,677 shares during the quarter. Man Group plc’s holdings in Bloom Energy were worth $11,778,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of BE. Franklin Resources Inc. raised its stake in shares of Bloom Energy by 62.4% in the third quarter. Franklin Resources Inc. now owns 125,598 shares of the company’s stock worth $1,314,000 after purchasing an additional 48,258 shares during the last quarter. Joule Financial LLC acquired a new stake in Bloom Energy during the fourth quarter worth about $348,000. M.E. Allison & CO. Inc. acquired a new stake in Bloom Energy during the fourth quarter worth about $711,000. Chesley Taft & Associates LLC acquired a new stake in Bloom Energy during the fourth quarter worth about $225,000. Finally, Wesbanco Bank Inc. grew its holdings in Bloom Energy by 3.9% during the fourth quarter. Wesbanco Bank Inc. now owns 107,000 shares of the company’s stock worth $2,376,000 after acquiring an additional 4,000 shares during the period. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Bloom Energy news, CEO Kr Sridhar sold 42,383 shares of Bloom Energy stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $19.14, for a total value of $811,210.62. Following the sale, the chief executive officer now owns 2,724,613 shares in the company, valued at $52,149,092.82. The trade was a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction on Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the sale, the insider now owns 178,656 shares in the company, valued at $4,482,479.04. This represents a 0.57% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,375 shares of company stock worth $1,053,445. 3.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Hsbc Global Res raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 8th. TD Cowen raised their target price on Bloom Energy from $13.00 to $20.00 and gave the stock a “hold” rating in a report on Friday, February 28th. Jefferies Financial Group dropped their target price on Bloom Energy from $25.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. raised their target price on Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Finally, Bank of America dropped their target price on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Bloom Energy currently has a consensus rating of “Moderate Buy” and an average price target of $22.47.

Bloom Energy Stock Performance

Shares of Bloom Energy stock opened at $20.14 on Monday. Bloom Energy Co. has a one year low of $9.02 and a one year high of $29.83. The company has a market cap of $4.68 billion, a price-to-earnings ratio of -35.96 and a beta of 3.25. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The business’s 50 day moving average price is $19.45 and its 200 day moving average price is $21.79.

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