GAMMA Investing LLC Trims Stock Position in Bloom Energy Corporation $BE

GAMMA Investing LLC cut its stake in shares of Bloom Energy Corporation (NYSE:BE) by 22.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,373 shares of the company’s stock after selling 705 shares during the period. GAMMA Investing LLC’s holdings in Bloom Energy were worth $57,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tree Line Advisors Hong Kong Ltd. acquired a new position in Bloom Energy during the 1st quarter worth approximately $22,609,000. Driehaus Capital Management LLC acquired a new position in Bloom Energy during the 1st quarter worth approximately $21,066,000. Goldman Sachs Group Inc. increased its position in Bloom Energy by 50.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company’s stock worth $49,127,000 after purchasing an additional 836,810 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in Bloom Energy by 29.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,611,925 shares of the company’s stock worth $71,010,000 after purchasing an additional 821,814 shares during the period. Finally, Nuveen LLC acquired a new position in Bloom Energy during the 1st quarter worth approximately $13,476,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Bloom Energy news, CEO Kr Sridhar sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $49.70, for a total value of $2,982,000.00. Following the transaction, the chief executive officer owned 2,368,951 shares of the company’s stock, valued at $117,736,864.70. This trade represents a 2.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Aman Joshi sold 4,870 shares of Bloom Energy 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 directly owned 224,361 shares in the company, valued at approximately $9,728,292.96. This trade represents a 2.12% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 302,205 shares of company stock valued at $14,919,283. 3.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. BTIG Research upped their price target on Bloom Energy from $42.00 to $80.00 and gave the stock a “buy” rating in a report on Monday. Roth Capital upped their price target on Bloom Energy from $34.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, September 19th. Susquehanna upped their price target on Bloom Energy from $26.00 to $30.00 and gave the stock a “positive” rating in a report on Monday, July 21st. Robert W. Baird upped their price target on Bloom Energy from $45.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Finally, Mizuho cut Bloom Energy from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $48.00 to $79.00 in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $43.82.

Bloom Energy Trading Up 2.5%

Shares of BE opened at $90.18 on Friday. The company has a current ratio of 4.99, a quick ratio of 3.21 and a debt-to-equity ratio of 2.18. The firm has a market capitalization of $21.10 billion, a P/E ratio of 2,254.99 and a beta of 3.48. The stock’s fifty day simple moving average is $56.53 and its 200 day simple moving average is $33.22. Bloom Energy Corporation has a twelve month low of $9.02 and a twelve month high of $93.80.

Bloom Energy (NYSE:BE) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.10 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $382.23 million. During the same period last year, the company posted ($0.06) earnings per share. The firm’s revenue was up 19.5% compared to the same quarter last year. Bloom Energy has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

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.