The Manufacturers Life Insurance Company raised its position in Bloom Energy Co. (NYSE:BE – Free Report) by 6.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 114,705 shares of the company’s stock after purchasing an additional 7,205 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.05% of Bloom Energy worth $1,404,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently made changes to their positions in BE. Electron Capital Partners LLC acquired a new position in shares of Bloom Energy during the fourth quarter valued at approximately $27,796,000. Artemis Investment Management LLP acquired a new position in shares of Bloom Energy during the second quarter valued at approximately $7,502,000. DigitalBridge Group Inc. boosted its holdings 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 buying an additional 462,581 shares in the last quarter. Pier Capital LLC bought a new stake in Bloom Energy during the second quarter worth approximately $5,602,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings in 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 in the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.
Analyst Ratings Changes
A number of brokerages recently weighed in on BE. Bank of America raised their target price on shares of Bloom Energy from $8.00 to $9.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. raised their target price on shares of Bloom Energy from $12.00 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Royal Bank of Canada restated an “outperform” rating and set a $15.00 target price on shares of Bloom Energy in a report on Thursday, June 20th. UBS Group reduced their target price on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Finally, Truist Financial raised their price objective on shares of Bloom Energy from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. One investment 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $15.88.
Insider Activity
In other news, insider Shawn Marie Soderberg sold 2,094 shares of Bloom Energy stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $14.53, for a total transaction of $30,425.82. Following the sale, the insider now directly owns 168,867 shares in the company, valued at approximately $2,453,637.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.81% of the stock is owned by company insiders.
Bloom Energy Stock Performance
NYSE:BE opened at $10.74 on Friday. The firm’s 50-day moving average is $10.87 and its 200-day moving average is $12.19. Bloom Energy Co. has a 52-week low of $8.41 and a 52-week high of $18.14. The company has a debt-to-equity ratio of 3.43, a quick ratio of 3.33 and a current ratio of 4.65. The company has a market cap of $2.44 billion, a price-to-earnings ratio of -8.26 and a beta of 2.69.
Bloom Energy (NYSE:BE – Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). Bloom Energy had a negative net margin of 21.37% and a negative return on equity of 11.90%. The company had revenue of $335.80 million for the quarter, compared to the consensus estimate of $307.73 million. During the same quarter in the previous year, the firm posted ($0.32) EPS. The business’s revenue was up 11.5% compared to the same quarter last year. Equities research analysts anticipate that Bloom Energy Co. will post -0.25 earnings per share for the current year.
Bloom Energy 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.
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