Grassi Investment Management Makes New $106,000 Investment in Bloom Energy Co. (NYSE:BE)

Grassi Investment Management bought a new position in shares of Bloom Energy Co. (NYSE:BE) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,000 shares of the company’s stock, valued at approximately $106,000.

A number of other large investors have also recently added to or reduced their stakes in BE. Electron Capital Partners LLC boosted its position in Bloom Energy by 131.5% during the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after purchasing an additional 1,790,733 shares during the period. Artemis Investment Management LLP bought a new stake in Bloom Energy during the second quarter worth approximately $7,502,000. DigitalBridge Group Inc. boosted its position in Bloom Energy by 66.3% during the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock worth $14,203,000 after purchasing an additional 462,581 shares during the period. Pier Capital LLC acquired a new position in shares of Bloom Energy during the second quarter worth approximately $5,602,000. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Bloom Energy by 762.3% during the first 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 last quarter. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Stock Performance

Shares of NYSE:BE opened at $9.13 on Thursday. The business’s fifty day moving average price is $10.72 and its two-hundred day moving average price is $12.11. Bloom Energy Co. has a fifty-two week low of $8.41 and a fifty-two week high of $18.14. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of -6.70 and a beta of 2.69. The company has a debt-to-equity ratio of 3.43, a current ratio of 4.65 and a quick ratio of 3.33.

Bloom Energy (NYSE:BE) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates 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 analysts’ expectations of $307.73 million. During the same period in the prior year, the business posted ($0.32) earnings per share. The business’s revenue was up 11.5% compared to the same quarter last year. As a group, analysts predict that Bloom Energy Co. will post -0.25 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. UBS Group cut their price target on Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Susquehanna cut their price target on Bloom Energy from $16.00 to $13.00 and set a “positive” rating for the company in a report on Wednesday, October 16th. Jefferies Financial Group lowered Bloom Energy from a “buy” rating to a “hold” rating and cut their price target for the stock from $15.00 to $11.00 in a report on Friday, September 6th. Piper Sandler upped their price target on Bloom Energy from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. upped their price target on Bloom Energy from $12.00 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $15.68.

Bloom Energy Company 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.