131,000 Shares in Bloom Energy Co. (NYSE:BE) Purchased by MKP Capital Management L.L.C.

MKP Capital Management L.L.C. bought a new stake in shares of Bloom Energy Co. (NYSE:BE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 131,000 shares of the company’s stock, valued at approximately $1,603,000. Bloom Energy comprises about 0.1% of MKP Capital Management L.L.C.’s portfolio, making the stock its 13th biggest holding. MKP Capital Management L.L.C. owned approximately 0.06% of Bloom Energy as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BE. Millburn Ridgefield Corp boosted its position in Bloom Energy by 64.0% during the first quarter. Millburn Ridgefield Corp now owns 3,296 shares of the company’s stock worth $37,000 after acquiring an additional 1,286 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Bloom Energy by 9.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,299 shares of the company’s stock worth $226,000 after purchasing an additional 1,308 shares during the last quarter. Arizona State Retirement System grew its position in shares of Bloom Energy by 2.7% in the second quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock valued at $696,000 after purchasing an additional 1,470 shares in the last quarter. Tocqueville Asset Management L.P. increased its holdings in shares of Bloom Energy by 3.1% in the first quarter. Tocqueville Asset Management L.P. now owns 59,250 shares of the company’s stock valued at $666,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Bloom Energy by 10.6% during the fourth quarter. Principal Financial Group Inc. now owns 22,294 shares of the company’s stock worth $330,000 after buying an additional 2,139 shares in the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BE shares. BTIG Research upped their target price on Bloom Energy from $19.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Piper Sandler raised their price objective on shares of Bloom Energy from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Bank of America boosted their target price on shares of Bloom Energy from $8.00 to $9.00 and gave the company an “underperform” rating in a report on Wednesday, July 17th. Royal Bank of Canada restated an “outperform” rating and set a $15.00 price target on shares of Bloom Energy in a report on Thursday, June 20th. Finally, UBS Group decreased their price objective on Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Bloom Energy presently has an average rating of “Hold” and an average price target of $15.88.

Bloom Energy Stock Down 9.8 %

Bloom Energy stock opened at $9.95 on Friday. The firm has a market capitalization of $2.26 billion, a P/E ratio of -7.37 and a beta of 2.69. The company has a current ratio of 4.65, a quick ratio of 3.33 and a debt-to-equity ratio of 3.43. Bloom Energy Co. has a twelve month low of $8.41 and a twelve month high of $18.14. The stock’s fifty day simple moving average is $12.35 and its 200-day simple moving average is $12.04.

Bloom Energy (NYSE:BE) last released its earnings results on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). The firm had revenue of $335.80 million during the quarter, compared to analysts’ expectations of $307.73 million. Bloom Energy had a negative return on equity of 11.90% and a negative net margin of 21.37%. Bloom Energy’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.32) EPS. As a group, equities analysts expect that Bloom Energy Co. will post -0.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Shawn Marie Soderberg sold 2,094 shares of Bloom Energy stock in a transaction that occurred on 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 transaction, the insider now owns 168,867 shares in the company, valued at $2,453,637.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.81% of the company’s stock.

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.