Healthcare of Ontario Pension Plan Trust Fund Decreases Stock Position in Bloom Energy Co. (NYSE:BE)

Healthcare of Ontario Pension Plan Trust Fund cut its holdings in shares of Bloom Energy Co. (NYSE:BE - Free Report) by 47.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 292,513 shares of the company's stock after selling 262,743 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.13% of Bloom Energy worth $3,580,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Millburn Ridgefield Corp grew its holdings in Bloom Energy by 64.0% during the 1st quarter. Millburn Ridgefield Corp now owns 3,296 shares of the company's stock valued at $37,000 after buying an additional 1,286 shares in the last quarter. BNP Paribas purchased a new position in Bloom Energy during the first quarter valued at approximately $38,000. ORG Partners LLC bought a new stake in Bloom Energy during the 2nd quarter worth approximately $40,000. Quest Partners LLC lifted its stake in Bloom Energy by 2,780.0% in the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company's stock worth $44,000 after purchasing an additional 3,475 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC bought a new position in Bloom Energy in the 2nd quarter valued at $53,000. 77.04% of the stock is currently owned by institutional investors.

Bloom Energy Trading Up 1.7 %

BE traded up $0.18 on Friday, hitting $10.83. 4,951,927 shares of the company were exchanged, compared to its average volume of 5,903,648. The company has a debt-to-equity ratio of 3.43, a quick ratio of 3.33 and a current ratio of 4.65. Bloom Energy Co. has a 12 month low of $8.41 and a 12 month high of $18.14. The firm has a fifty day simple moving average of $11.12 and a two-hundred day simple moving average of $12.20. The stock has a market capitalization of $2.46 billion, a PE ratio of -8.02 and a beta of 2.69.

Bloom Energy (NYSE:BE - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). The firm had revenue of $335.80 million for the quarter, compared to analysts' expectations of $307.73 million. Bloom Energy had a negative net margin of 21.37% and a negative return on equity of 11.90%. The business's revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.32) earnings per share. Sell-side analysts expect that Bloom Energy Co. will post -0.25 earnings per share for the current year.

Insider Activity

In other news, insider Shawn Marie Soderberg sold 2,094 shares of Bloom Energy stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $14.53, for a total value of $30,425.82. Following the sale, the insider now directly owns 168,867 shares in the company, valued at approximately $2,453,637.51. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on BE shares. JPMorgan Chase & Co. increased their price objective on Bloom Energy from $12.00 to $14.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 16th. Piper Sandler lifted their price target on Bloom Energy from $10.00 to $11.00 and gave the company a "neutral" rating in a research report on Monday, July 22nd. UBS Group cut their price objective on Bloom Energy from $25.00 to $23.00 and set a "buy" rating for the company in a report on Thursday, August 15th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $15.00 target price on shares of Bloom Energy in a research note on Thursday, June 20th. Finally, Truist Financial boosted their price target on shares of Bloom Energy from $12.00 to $13.00 and gave the stock a "hold" rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $15.88.

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.