Los Angeles Capital Management LLC Boosts Holdings in Bloom Energy Co. (NYSE:BE)

Los Angeles Capital Management LLC boosted its position in Bloom Energy Co. (NYSE:BEGet Rating) by 20.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,648 shares of the company’s stock after purchasing an additional 6,168 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Bloom Energy were worth $588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Quaero Capital S.A. lifted its stake in Bloom Energy by 48.3% in the 2nd quarter. Quaero Capital S.A. now owns 80,735 shares of the company’s stock worth $1,332,000 after purchasing an additional 26,285 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Bloom Energy by 452.4% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 64,257 shares of the company’s stock worth $1,060,000 after buying an additional 52,624 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Bloom Energy by 21.4% in the 2nd quarter. Van ECK Associates Corp now owns 646,880 shares of the company’s stock worth $10,674,000 after buying an additional 113,963 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Bloom Energy by 34.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 505,000 shares of the company’s stock worth $8,048,000 after buying an additional 128,000 shares during the last quarter. Finally, Banque Cantonale Vaudoise increased its holdings in shares of Bloom Energy by 3.0% in the 2nd quarter. Banque Cantonale Vaudoise now owns 44,677 shares of the company’s stock worth $737,000 after buying an additional 1,314 shares during the last quarter. 64.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Bloom Energy

In other news, EVP Guillermo Brooks sold 1,398 shares of the firm’s stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $18.30, for a total value of $25,583.40. Following the completion of the sale, the executive vice president now directly owns 23,992 shares of the company’s stock, valued at approximately $439,053.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Shawn Marie Soderberg sold 3,192 shares of the firm’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $25.81, for a total value of $82,385.52. Following the completion of the sale, the executive vice president now directly owns 354,463 shares of the company’s stock, valued at approximately $9,148,690.03. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Guillermo Brooks sold 1,398 shares of Bloom Energy stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $18.30, for a total transaction of $25,583.40. Following the transaction, the executive vice president now directly owns 23,992 shares of the company’s stock, valued at $439,053.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,042 shares of company stock valued at $876,146. Company insiders own 2.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Northland Securities increased their price target on shares of Bloom Energy to $40.00 in a report on Monday, August 22nd. Bank of America reissued a “buy” rating and issued a $34.00 price target on shares of Bloom Energy in a report on Thursday, August 25th. Truist Financial reduced their target price on shares of Bloom Energy from $31.00 to $20.00 and set a “hold” rating on the stock in a report on Tuesday, October 18th. Credit Suisse Group reduced their target price on shares of Bloom Energy to $32.00 in a report on Monday, August 22nd. Finally, Jefferies Financial Group assumed coverage on shares of Bloom Energy in a report on Wednesday, October 19th. They set a “buy” rating and a $29.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.50.

Bloom Energy Price Performance

Shares of Bloom Energy stock opened at $18.26 on Thursday. The firm has a market cap of $3.25 billion, a PE ratio of -11.34 and a beta of 2.87. Bloom Energy Co. has a 12-month low of $11.47 and a 12-month high of $35.11. The company has a quick ratio of 1.81, a current ratio of 2.46 and a debt-to-equity ratio of 4.44. The company’s fifty day simple moving average is $20.61 and its two-hundred day simple moving average is $19.70.

Bloom Energy (NYSE:BEGet Rating) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.06). Bloom Energy had a negative return on equity of 80,741.48% and a negative net margin of 26.65%. The firm had revenue of $243.24 million during the quarter, compared to the consensus estimate of $228.30 million. During the same period last year, the business earned ($0.34) EPS. Bloom Energy’s revenue was up 6.5% on a year-over-year basis. As a group, equities analysts expect that Bloom Energy Co. will post -1.07 EPS for the current year.

About Bloom Energy

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

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