Emerald Mutual Fund Advisers Trust Makes New Investment in Bloom Energy Co. (NYSE:BE)

by · The Markets Daily

Emerald Mutual Fund Advisers Trust purchased a new position in shares of Bloom Energy Co. (NYSE:BE – Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,050 shares of the company’s stock, valued at approximately $74,000.

A number of other large investors also recently made changes to their positions in the business. Electron Capital Partners LLC raised its position in shares of Bloom Energy by 131.5% in the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after buying an additional 1,790,733 shares during the period. Artemis Investment Management LLP purchased a new position in shares of Bloom Energy in the 2nd quarter worth $7,502,000. DigitalBridge Group Inc. raised its position in shares of Bloom Energy by 66.3% in the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock worth $14,203,000 after buying an additional 462,581 shares during the period. Pier Capital LLC purchased a new position in shares of Bloom Energy in the 2nd quarter worth $5,602,000. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Bloom Energy by 762.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 504,591 shares of the company’s stock worth $5,712,000 after buying an additional 446,074 shares during the period. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. UBS Group cut their price objective on Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Susquehanna reduced their price target on Bloom Energy from $16.00 to $13.00 and set a “positive” rating on the stock in a research report on Wednesday, October 16th. Jefferies Financial Group downgraded shares of Bloom Energy from a “buy” rating to a “hold” rating and lowered their price objective for the company from $15.00 to $11.00 in a research report on Friday, September 6th. Bank of America upped their target price on shares of Bloom Energy from $8.00 to $9.00 and gave the company an “underperform” rating in a research note on Wednesday, July 17th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Bloom Energy from $12.00 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $15.39.

Check Out Our Latest Analysis on Bloom Energy

Bloom Energy Stock Performance

Shares of BE opened at $9.94 on Monday. Bloom Energy Co. has a 12-month low of $8.41 and a 12-month high of $18.14. The company has a debt-to-equity ratio of 3.43, a current ratio of 4.65 and a quick ratio of 3.33. The business’s fifty day moving average price is $10.46 and its 200 day moving average price is $12.07. The stock has a market capitalization of $2.26 billion, a PE ratio of -7.65 and a beta of 2.71.

Bloom Energy (NYSE:BE – Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). Bloom Energy had a negative return on equity of 11.90% and a negative net margin of 21.37%. The firm had revenue of $335.80 million for the quarter, compared to analyst estimates of $307.73 million. During the same period last year, the company earned ($0.32) earnings per share. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. Equities research analysts forecast that Bloom Energy Co. will post -0.27 EPS for the current year.

About Bloom Energy

(Free Report)

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.

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