Bloom Energy Corporation $BE Shares Sold by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT cut its position in shares of Bloom Energy Corporation (NYSE:BE) by 53.3% during the third quarter, Holdings Channel.com reports. The firm owned 187,000 shares of the company’s stock after selling 213,000 shares during the quarter. Bloom Energy makes up approximately 0.9% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s portfolio, making the stock its 27th biggest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Bloom Energy were worth $15,815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in BE. Advisors Asset Management Inc. raised its position in shares of Bloom Energy by 43.0% during the 1st quarter. Advisors Asset Management Inc. now owns 86,665 shares of the company’s stock valued at $1,704,000 after buying an additional 26,077 shares during the period. Resona Asset Management Co. Ltd. purchased a new position in Bloom Energy in the second quarter worth approximately $108,000. Mizuho Markets Americas LLC increased its stake in Bloom Energy by 29.9% during the second quarter. Mizuho Markets Americas LLC now owns 395,490 shares of the company’s stock worth $9,460,000 after acquiring an additional 90,980 shares during the last quarter. Comerica Bank raised its position in Bloom Energy by 5.8% in the first quarter. Comerica Bank now owns 88,554 shares of the company’s stock valued at $1,741,000 after purchasing an additional 4,885 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Bloom Energy in the 3rd quarter valued at $1,106,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Insider Activity

In other news, insider Aman Joshi sold 4,543 shares of Bloom Energy stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $109.13, for a total value of $495,777.59. Following the completion of the transaction, the insider owned 219,818 shares in the company, valued at approximately $23,988,738.34. This trade represents a 2.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Shawn Marie Soderberg sold 36,666 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $141.00, for a total transaction of $5,169,906.00. Following the sale, the insider owned 225,949 shares in the company, valued at $31,858,809. The trade was a 13.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 120,410 shares of company stock worth $16,557,185 over the last three months. Company insiders own 3.50% of the company’s stock.

Bloom Energy Trading Down 1.4%

NYSE BE opened at $87.21 on Wednesday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.88 and a current ratio of 4.40. The firm has a market cap of $20.63 billion, a price-to-earnings ratio of 501.00, a PEG ratio of 55.84 and a beta of 3.00. The firm has a 50 day simple moving average of $106.93 and a 200-day simple moving average of $71.31. Bloom Energy Corporation has a one year low of $15.15 and a one year high of $147.86.

Bloom Energy (NYSE:BE) last released its earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. The company had revenue of $519.05 million for the quarter, compared to analyst estimates of $425.18 million. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The firm’s quarterly revenue was up 57.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.01) EPS. Equities research analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Analysts Set New Price Targets

BE has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on Bloom Energy to $129.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. BTIG Research increased their target price on shares of Bloom Energy to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Roth Capital reissued a “neutral” rating and issued a $103.00 price target on shares of Bloom Energy in a research note on Wednesday, October 29th. Jefferies Financial Group reaffirmed an “underperform” rating and set a $53.00 price objective on shares of Bloom Energy in a research report on Friday, October 31st. Finally, Susquehanna lifted their target price on shares of Bloom Energy to $157.00 and gave the company a “positive” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Bloom Energy currently has an average rating of “Hold” and an average target price of $93.77.

Bloom Energy Profile

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.