Charles Schwab Investment Management Inc. Lowers Position in Bloom Energy Corporation $BE

Charles Schwab Investment Management Inc. decreased its holdings in shares of Bloom Energy Corporation (NYSE:BE) by 2.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,621,288 shares of the company’s stock after selling 32,799 shares during the period. Charles Schwab Investment Management Inc. owned 0.70% of Bloom Energy worth $31,875,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. XTX Topco Ltd bought a new position in shares of Bloom Energy during the 4th quarter worth approximately $364,000. Marshall Wace LLP raised its holdings in shares of Bloom Energy by 32.7% in the fourth quarter. Marshall Wace LLP now owns 508,240 shares of the company’s stock worth $11,288,000 after buying an additional 125,184 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Bloom Energy during the fourth quarter worth $113,000. CANADA LIFE ASSURANCE Co increased its holdings in shares of Bloom Energy by 41.0% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 511,716 shares of the company’s stock valued at $11,386,000 after purchasing an additional 148,914 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new position in Bloom Energy in the 4th quarter worth approximately $2,540,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Bloom Energy Price Performance

NYSE BE opened at $42.84 on Wednesday. Bloom Energy Corporation has a 1 year low of $9.02 and a 1 year high of $47.21. The company has a debt-to-equity ratio of 2.18, a quick ratio of 3.21 and a current ratio of 4.99. The stock has a market capitalization of $10.02 billion, a P/E ratio of 1,071.27 and a beta of 3.28. The business’s fifty day moving average is $29.49 and its two-hundred day moving average is $23.83.

Bloom Energy (NYSE:BE) last released its earnings results on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.08. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%.The company had revenue of $401.24 million during the quarter, compared to analyst estimates of $382.23 million. During the same quarter in the prior year, the company earned ($0.06) earnings per share. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. Bloom Energy has set its FY 2025 guidance at EPS. On average, research analysts forecast that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on BE shares. Piper Sandler cut their price target on Bloom Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Roth Capital raised their target price on Bloom Energy from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. raised Bloom Energy from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $18.00 to $33.00 in a research note on Wednesday, July 9th. Morgan Stanley upped their price objective on shares of Bloom Energy from $35.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Finally, UBS Group boosted their price target on Bloom Energy from $29.00 to $41.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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 on Thursday, August 14th. The shares were sold at an average price of $43.44, for a total transaction of $92,440.32. Following the completion of the sale, the insider directly owned 232,365 shares of the company’s stock, valued at approximately $10,093,935.60. This represents a 0.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Aman Joshi sold 4,870 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $43.36, for a total value of $211,163.20. Following the sale, the insider owned 224,361 shares of the company’s stock, valued at approximately $9,728,292.96. The trade was a 2.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,057 shares of company stock valued at $3,512,484 over the last three months. Corporate insiders own 3.50% of the company’s stock.

Bloom Energy Company 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.