Skandinaviska Enskilda Banken AB publ Sells 17,650 Shares of Bloom Energy Co. (NYSE:BE)

Skandinaviska Enskilda Banken AB publ lowered its holdings in Bloom Energy Co. (NYSE:BE) by 4.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 351,787 shares of the company’s stock after selling 17,650 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Bloom Energy were worth $6,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. bought a new position in Bloom Energy during the second quarter valued at approximately $45,000. Bbva USA boosted its stake in Bloom Energy by 28.1% during the third quarter. Bbva USA now owns 2,920 shares of the company’s stock valued at $55,000 after buying an additional 641 shares during the last quarter. Benjamin Edwards Inc. bought a new position in Bloom Energy during the third quarter valued at approximately $64,000. Exchange Traded Concepts LLC boosted its stake in Bloom Energy by 31.5% during the third quarter. Exchange Traded Concepts LLC now owns 4,025 shares of the company’s stock valued at $75,000 after buying an additional 963 shares during the last quarter. Finally, Xponance Inc. purchased a new stake in Bloom Energy during the second quarter valued at approximately $205,000. Hedge funds and other institutional investors own 60.12% of the company’s stock.

In related news, EVP Glen Griffiths sold 991 shares of the firm’s stock in a transaction that occurred on Thursday, November 18th. The shares were sold at an average price of $31.32, for a total transaction of $31,038.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Swaminathan Venkataraman sold 4,926 shares of the firm’s stock in a transaction that occurred on Monday, October 18th. The stock was sold at an average price of $21.30, for a total transaction of $104,923.80. The disclosure for this sale can be found here. Insiders have sold 121,588 shares of company stock valued at $3,934,893 in the last quarter. Insiders own 15.86% of the company’s stock.

BE has been the topic of a number of recent research reports. Bank of America upped their price objective on Bloom Energy from $23.50 to $34.50 and gave the company a “neutral” rating in a research report on Wednesday, November 3rd. Morgan Stanley dropped their target price on Bloom Energy from $32.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Thursday. Piper Sandler initiated coverage on Bloom Energy in a research note on Thursday, September 23rd. They issued a “neutral” rating and a $21.00 target price for the company. Zacks Investment Research upgraded Bloom Energy from a “sell” rating to a “hold” rating in a research note on Monday, January 10th. Finally, Truist assumed coverage on Bloom Energy in a research note on Friday, October 15th. They issued a “hold” rating and a $25.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $30.58.

Shares of NYSE BE opened at $18.13 on Friday. The company has a debt-to-equity ratio of 2,524.52, a current ratio of 1.70 and a quick ratio of 1.12. Bloom Energy Co. has a 52-week low of $16.82 and a 52-week high of $44.95. The business’s 50 day moving average is $24.83 and its two-hundred day moving average is $23.16.

Bloom Energy (NYSE:BE) last posted its quarterly earnings data on Thursday, November 4th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.11). Bloom Energy had a negative return on equity of 294.75% and a negative net margin of 18.00%. The company had revenue of $207.23 million for the quarter, compared to analysts’ expectations of $240.47 million. During the same period in the prior year, the company posted ($0.15) EPS. The firm’s revenue was up 3.5% compared to the same quarter last year. Sell-side analysts expect that Bloom Energy Co. will post -1.01 EPS for the current fiscal year.

About Bloom Energy

Bloom Energy Corp. engages in the manufacture and installation of on-site distributed power generators. Its product, Bloom Energy Server, converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion. The company was founded by K. R. Sridhar, John Finn, Jim McElroy, Matthias Gottmann and Dien Nguyen on January 18, 2001 and is headquartered in San Jose, CA.

Read More: What is the S&P 500 Index?

Want to see what other hedge funds are holding BE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bloom Energy Co. (NYSE:BE).

Institutional Ownership by Quarter for Bloom Energy (NYSE:BE)

Receive News & Ratings for Bloom Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bloom Energy and related companies with MarketBeat.com's FREE daily email newsletter.