Cetera Investment Advisers Boosts Stock Holdings in Bloom Energy Corporation (NYSE:BE)

Cetera Investment Advisers lifted its stake in Bloom Energy Corporation (NYSE:BE) by 29.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,977 shares of the company’s stock after purchasing an additional 7,135 shares during the period. Cetera Investment Advisers’ holdings in Bloom Energy were worth $609,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BE. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Bloom Energy during the fourth quarter worth about $61,968,000. Voloridge Investment Management LLC increased its holdings in shares of Bloom Energy by 323.6% in the 4th quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company’s stock valued at $31,992,000 after acquiring an additional 1,100,352 shares during the period. DigitalBridge Group Inc. boosted its stake in Bloom Energy by 5.7% during the 4th quarter. DigitalBridge Group Inc. now owns 1,418,257 shares of the company’s stock worth $31,499,000 after purchasing an additional 75,974 shares during the period. Wellington Management Group LLP grew its position in Bloom Energy by 306.3% during the 4th quarter. Wellington Management Group LLP now owns 1,383,897 shares of the company’s stock worth $30,736,000 after purchasing an additional 1,043,326 shares during the last quarter. Finally, Two Sigma Advisers LP increased its stake in Bloom Energy by 98.6% in the fourth quarter. Two Sigma Advisers LP now owns 1,380,034 shares of the company’s stock valued at $30,651,000 after purchasing an additional 685,100 shares during the period. 77.04% of the stock is owned by institutional investors and hedge funds.

Bloom Energy Stock Up 0.5%

NYSE:BE opened at $45.32 on Friday. The stock has a 50-day simple moving average of $28.57 and a 200 day simple moving average of $23.53. Bloom Energy Corporation has a 52-week low of $9.02 and a 52-week high of $47.21. The company has a market cap of $10.60 billion, a PE ratio of 1,133.28 and a beta of 3.28. The company has a debt-to-equity ratio of 2.18, a quick ratio of 3.21 and a current ratio of 4.99.

Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.02 by $0.08. The firm had revenue of $401.24 million for the quarter, compared to analysts’ expectations of $382.23 million. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.06) EPS. On average, sell-side analysts expect that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wells Fargo & Company raised their target price on Bloom Energy from $22.00 to $38.00 and gave the company an “equal weight” rating in a report on Friday, August 1st. Piper Sandler reduced their price target on shares of Bloom Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Truist Financial lowered their price target on Bloom Energy from $22.00 to $19.00 and set a “hold” rating on the stock in a report on Monday, April 21st. JPMorgan Chase & Co. upgraded shares of Bloom Energy from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $18.00 to $33.00 in a research report on Wednesday, July 9th. Finally, Mizuho increased their price target on shares of Bloom Energy from $26.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, July 14th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.39.

Insider Activity

In related news, insider Satish Chitoori sold 2,128 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $43.44, for a total value of $92,440.32. Following the transaction, the insider owned 232,365 shares in the company, valued at approximately $10,093,935.60. This represents a 0.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Aman Joshi sold 4,870 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $43.36, for a total transaction of $211,163.20. Following the sale, the insider owned 224,361 shares of the company’s stock, valued at $9,728,292.96. This trade represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 85,057 shares of company stock valued at $3,512,484 in the last 90 days. 3.60% of the stock is owned by company insiders.

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.