Nisa Investment Advisors LLC Buys 1,081 Shares of Bloom Energy Corporation (NYSE:BE)

Nisa Investment Advisors LLC increased its stake in shares of Bloom Energy Corporation (NYSE:BE) by 47.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,373 shares of the company’s stock after purchasing an additional 1,081 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Bloom Energy were worth $66,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BE. Quarry LP purchased a new position in shares of Bloom Energy during the fourth quarter valued at approximately $35,000. ORG Wealth Partners LLC bought a new stake in shares of Bloom Energy during the 1st quarter worth approximately $41,000. Gordian Capital Singapore Pte Ltd purchased a new position in Bloom Energy during the 4th quarter valued at $49,000. Raiffeisen Bank International AG purchased a new position in Bloom Energy during the 4th quarter valued at $107,000. Finally, Canada Pension Plan Investment Board bought a new position in Bloom Energy in the 4th quarter valued at $113,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Analysts Set New Price Targets

BE has been the subject of a number of recent analyst reports. Susquehanna lowered their target price on shares of Bloom Energy from $33.00 to $26.00 and set a “positive” rating for the company in a research note on Monday, April 14th. Robert W. Baird decreased their price objective on shares of Bloom Energy from $32.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Mizuho upped their target price on shares of Bloom Energy from $26.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, July 14th. UBS Group reaffirmed a “buy” rating on shares of Bloom Energy in a research note on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. upgraded Bloom Energy from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $18.00 to $33.00 in a report on Wednesday, July 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bloom Energy currently has an average rating of “Moderate Buy” and a consensus target price of $24.26.

Insider Activity

In related news, insider Maciej Kurzymski sold 1,012 shares of the company’s stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $25.27, for a total transaction of $25,573.24. Following the transaction, the insider directly owned 108,848 shares of the company’s stock, valued at $2,750,588.96. This represents a 0.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Aman Joshi sold 4,658 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total transaction of $91,855.76. Following the completion of the transaction, the insider directly owned 131,371 shares of the company’s stock, valued at $2,590,636.12. The trade was a 3.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,513 shares of company stock worth $1,261,765. Company insiders own 3.60% of the company’s stock.

Bloom Energy Stock Performance

Shares of Bloom Energy stock opened at $25.01 on Friday. The company has a market capitalization of $5.81 billion, a PE ratio of -500.10 and a beta of 3.22. The company has a 50-day simple moving average of $21.83 and a two-hundred day simple moving average of $21.86. Bloom Energy Corporation has a one year low of $9.02 and a one year high of $29.83. The company has a debt-to-equity ratio of 2.07, a quick ratio of 2.39 and a current ratio of 3.44.

Bloom Energy (NYSE:BE) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.10. Bloom Energy had a net margin of 0.29% and a return on equity of 2.51%. The firm had revenue of $326.02 million for the quarter, compared to the consensus estimate of $294.27 million. During the same quarter in the previous year, the firm earned ($0.17) EPS. The company’s quarterly revenue was up 38.5% compared to the same quarter last year. Research analysts expect that Bloom Energy Corporation will post -0.23 EPS for the current fiscal 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.