Chesley Taft & Associates LLC Has $255,000 Stock Position in Bloom Energy Co. (NYSE:BE)

Chesley Taft & Associates LLC increased its holdings in shares of Bloom Energy Co. (NYSE:BE) by 27.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,956 shares of the company’s stock after buying an additional 2,807 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Bloom Energy were worth $255,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BE. Mainstream Capital Management LLC bought a new position in shares of Bloom Energy in the 4th quarter valued at $28,000. Smartleaf Asset Management LLC raised its position in Bloom Energy by 291.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after purchasing an additional 934 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after purchasing an additional 812 shares in the last quarter. Quarry LP bought a new stake in shares of Bloom Energy during the fourth quarter worth about $35,000. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in shares of Bloom Energy during the fourth quarter worth about $49,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Satish Chitoori sold 1,020 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the sale, the insider now owns 178,656 shares in the company, valued at approximately $4,482,479.04. This trade represents a 0.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Shawn Marie Soderberg sold 2,780 shares of Bloom Energy stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $19.72, for a total transaction of $54,821.60. Following the transaction, the insider now directly owns 152,890 shares in the company, valued at approximately $3,014,990.80. This represents a 1.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,375 shares of company stock valued at $1,053,445. 3.60% of the stock is owned by company insiders.

Analyst Ratings Changes

BE has been the topic of several recent research reports. Susquehanna cut their target price on shares of Bloom Energy from $33.00 to $26.00 and set a “positive” rating on the stock in a research report on Monday, April 14th. Royal Bank of Canada set a $26.00 price target on shares of Bloom Energy in a report on Monday, April 14th. Roth Mkm decreased their price objective on Bloom Energy from $26.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Mizuho raised Bloom Energy from a “neutral” rating to an “outperform” rating and lowered their target price for the stock from $28.00 to $26.00 in a research report on Monday, May 5th. Finally, Robert W. Baird reduced their price target on Bloom Energy from $32.00 to $27.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.97.

Bloom Energy Trading Up 6.7%

BE opened at $21.81 on Friday. The company has a fifty day moving average price of $18.36 and a two-hundred day moving average price of $22.20. Bloom Energy Co. has a 1-year low of $9.02 and a 1-year high of $29.83. The company has a market cap of $5.06 billion, a P/E ratio of -38.95 and a beta of 3.25. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.10. Bloom Energy had a negative return on equity of 20.32% and a negative net margin of 10.29%. The business had revenue of $326.02 million for the quarter, compared to the consensus estimate of $294.27 million. During the same period in the prior year, the business earned ($0.17) EPS. The firm’s revenue for the quarter was up 38.5% on a year-over-year basis. Analysts predict that Bloom Energy Co. will post -0.23 EPS for the current fiscal year.

About Bloom Energy

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.