Teacher Retirement System of Texas Lowers Stock Holdings in Bloom Energy Corporation $BE

Teacher Retirement System of Texas cut its holdings in shares of Bloom Energy Corporation (NYSE:BE) by 24.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,783 shares of the company’s stock after selling 19,717 shares during the period. Teacher Retirement System of Texas’ holdings in Bloom Energy were worth $5,140,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. N.E.W. Advisory Services LLC acquired a new position in shares of Bloom Energy in the third quarter valued at approximately $32,000. Parkside Financial Bank & Trust lifted its holdings in Bloom Energy by 250.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock worth $33,000 after buying an additional 281 shares in the last quarter. Cranbrook Wealth Management LLC purchased a new position in Bloom Energy in the 3rd quarter valued at approximately $39,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Bloom Energy in the third quarter worth $42,000. Finally, ORG Partners LLC purchased a new stake in shares of Bloom Energy during the third quarter worth $49,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Stock Down 4.0%

BE opened at $139.07 on Tuesday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.88 and a current ratio of 4.40. Bloom Energy Corporation has a one year low of $15.15 and a one year high of $155.87. The business’s 50-day simple moving average is $108.94 and its 200-day simple moving average is $85.25. The stock has a market capitalization of $32.89 billion, a P/E ratio of 804.94, a price-to-earnings-growth ratio of 12.20 and a beta of 3.01.

Bloom Energy (NYSE:BE) last announced its earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. The business had revenue of $519.05 million for the quarter, compared to analyst estimates of $425.18 million. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The company’s revenue for the quarter was up 57.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) earnings per share. Analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insider Activity at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,583 shares of Bloom Energy stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $105.97, for a total value of $167,750.51. Following the sale, the insider owned 221,633 shares of the company’s stock, valued at $23,486,449.01. The trade was a 0.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Maciej Kurzymski sold 3,264 shares of Bloom Energy stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $86.48, for a total value of $282,270.72. Following the completion of the sale, the insider directly owned 90,005 shares in the company, valued at $7,783,632.40. This represents a 3.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 120,410 shares of company stock worth $16,557,185 in the last ninety days. Company insiders own 3.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BE shares. HSBC upgraded Bloom Energy from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a report on Wednesday, October 29th. TD Cowen reissued a “hold” rating on shares of Bloom Energy in a research report on Wednesday, October 29th. Zacks Research lowered shares of Bloom Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. BMO Capital Markets set a $136.00 price target on shares of Bloom Energy in a research note on Wednesday, October 29th. Finally, Mizuho set a $89.00 price target on shares of Bloom Energy in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $102.43.

About Bloom Energy

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.