Nisa Investment Advisors LLC Sells 1,705 Shares of Bloom Energy Co. (NYSE:BE)

Nisa Investment Advisors LLC reduced its stake in shares of Bloom Energy Co. (NYSE:BE) by 49.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,775 shares of the company’s stock after selling 1,705 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Bloom Energy were worth $26,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. DekaBank Deutsche Girozentrale increased its position in shares of Bloom Energy by 4.2% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 58,517 shares of the company’s stock valued at $906,000 after buying an additional 2,379 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Bloom Energy by 8.0% in the fourth quarter. Arizona State Retirement System now owns 56,321 shares of the company’s stock worth $834,000 after acquiring an additional 4,152 shares in the last quarter. Tsfg LLC raised its position in shares of Bloom Energy by 11.1% during the fourth quarter. Tsfg LLC now owns 10,006 shares of the company’s stock worth $148,000 after purchasing an additional 1,000 shares during the period. Chilton Capital Management LLC lifted its holdings in shares of Bloom Energy by 73.3% during the 4th quarter. Chilton Capital Management LLC now owns 13,000 shares of the company’s stock valued at $192,000 after purchasing an additional 5,500 shares in the last quarter. Finally, Long Run Wealth Advisors LLC acquired a new position in shares of Bloom Energy in the 4th quarter valued at approximately $216,000. 77.04% of the stock is owned by institutional investors.

Bloom Energy Price Performance

Shares of BE opened at $9.33 on Tuesday. The company has a market cap of $2.10 billion, a price-to-earnings ratio of -6.43 and a beta of 2.79. The company has a current ratio of 3.60, a quick ratio of 2.53 and a debt-to-equity ratio of 2.41. The company’s fifty day simple moving average is $10.19 and its 200 day simple moving average is $11.72. Bloom Energy Co. has a 1-year low of $8.41 and a 1-year high of $18.76.

Bloom Energy (NYSE:BE) last issued its earnings results on Thursday, February 15th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. The company had revenue of $356.92 million for the quarter, compared to analysts’ expectations of $481.90 million. Bloom Energy had a negative net margin of 22.66% and a negative return on equity of 23.88%. On average, research analysts forecast that Bloom Energy Co. will post -0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. Redburn Atlantic assumed coverage on shares of Bloom Energy in a report on Tuesday, February 6th. They set a “neutral” rating and a $12.50 target price on the stock. BMO Capital Markets dropped their price objective on shares of Bloom Energy from $11.00 to $10.00 and set a “market perform” rating on the stock in a report on Friday, February 16th. Truist Financial raised shares of Bloom Energy from a “sell” rating to a “hold” rating and upped their target price for the stock from $9.00 to $11.00 in a research note on Wednesday, March 6th. Piper Sandler dropped their price target on Bloom Energy from $14.00 to $11.00 and set a “neutral” rating on the stock in a research note on Friday, February 16th. Finally, Royal Bank of Canada reduced their price objective on Bloom Energy from $21.00 to $14.00 and set an “outperform” rating for the company in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $16.69.

Insider Transactions at Bloom Energy

In related news, EVP Shawn Marie Soderberg sold 13,120 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $9.34, for a total value of $122,540.80. Following the sale, the executive vice president now owns 73,946 shares in the company, valued at approximately $690,655.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Shawn Marie Soderberg sold 13,120 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $9.34, for a total value of $122,540.80. Following the transaction, the executive vice president now owns 73,946 shares in the company, valued at approximately $690,655.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Kr Sridhar sold 50,746 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $9.74, for a total transaction of $494,266.04. Following the sale, the chief executive officer now owns 2,702,608 shares of the company’s stock, valued at $26,323,401.92. The disclosure for this sale can be found here. In the last three months, insiders sold 74,989 shares of company stock worth $725,292. 3.50% of the stock is owned by company insiders.

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.