Janney Montgomery Scott LLC Sells 15,864 Shares of Bloom Energy Co. (NYSE:BE)

Janney Montgomery Scott LLC cut its position in Bloom Energy Co. (NYSE:BE – Free Report) by 21.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The company owned 57,636 shares of the company’s stock after selling 15,864 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Bloom Energy were worth $648,000 at the time of its most recent SEC filing.

Other institutional investors have also recently changed their holdings in the company. Vanguard Group Inc. increased its position in shares of Bloom Energy by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 19,528,801 shares of the company’s stock worth $289,026,000 after purchasing an additional 307,627 shares during the period. Electron Capital Partners LLC purchased a new position in shares of Bloom Energy in the fourth quarter worth approximately $27,796,000. Norges Bank purchased a new position in shares of Bloom Energy in the fourth quarter worth approximately $82,678,000. KBC Group NV increased its position in shares of Bloom Energy by 26.1% in the fourth quarter. KBC Group NV now owns 586,242 shares of the company’s stock worth $8,676,000 after purchasing an additional 121,287 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Bloom Energy by 18.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,176 shares of the company’s stock worth $1,250,000 after purchasing an additional 14,173 shares during the period. Institutional investors own 77.04% of the company’s shares.

Bloom Energy shares drop 3.2%

Shares of NYSE:BE opened at $14.18 on Friday. Bloom Energy Co. has a 52-week low of $8.41 and a 52-week high of $18.20. The company has a debt-to-equity ratio of 2.56, a quick ratio of 2.97 and a current ratio of 4.45. The company’s fifty-day moving average is $14.00 and its 200-day moving average is $12.04. The company has a market cap of $3.22 billion, a PE ratio of -10.50 and a beta of 2.80.

Bloom Energy (NYSE:BE – Get Free Report) last released its quarterly earnings results on Thursday, May 9. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). Bloom Energy had a negative net margin of 22.27% and a negative return on equity of 19.32%. The company had revenue of $235.30 million during the quarter, compared to the consensus estimate of $254.06 million. Equities research analysts predict that Bloom Energy Co. will post -0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BE. Evercore ISI lowered their price target on shares of Bloom Energy from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. BTIG Research increased their price target on shares of Bloom Energy from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Bank of America increased their price target on shares of Bloom Energy from $8.00 to $9.00 and gave the stock an “underperform” rating in a research report on Wednesday. Morgan Stanley affirmed an “overweight” rating and set a $22.00 price target on shares of Bloom Energy in a research report on Monday, March 25th. Finally, Susquehanna lowered their price target on shares of Bloom Energy from $18.00 to $16.00 and gave the stock a “positive” rating in a research report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, and nine have given the company a buy rating. The stock has an average rating of “Hold” and a consensus price target of $15.64, according to MarketBeat.

Check out our latest report on BE

Insider activity at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 2,094 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $14.53, for a total transaction of $30,425.82. Following the completion of the sale, the insider now directly owns 168,867 shares of the company’s stock, valued at approximately $2,453,637.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible via the SEC website. In other news, CEO Kr Sridhar sold 40,112 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $11.93, for a total value of $478,536.16. Following the completion of the sale, the chief executive officer now directly owns 2,742,496 shares of the company’s stock, valued at approximately $32,717,977.28. The sale was disclosed in a document filed with the SEC, which can be accessed at this hyperlink. Also, insider Shawn Marie Soderberg sold 2,094 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $14.53, for a total value of $30,425.82. Following the completion of the sale, the insider now directly owns 168,867 shares of the company’s stock, valued at $2,453,637.51. The disclosure for this sale can be found here. Insiders sold 71,516 shares of the company’s stock worth $885,088 in the last ninety days. 8.81% of the shares are held by insiders.

Company Profile Bloom Energy

(Free Report)

Bloom Energy Corporation designs, manufactures, sells and installs solid oxide fuel cell systems for on-site electricity generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuels such as natural gas, biogas, hydrogen or a mixture of these fuels into electricity through an electrochemical process without combustion.