D.A. Davidson & CO. Invests $210,000 in Bloom Energy Corporation $BE

D.A. Davidson & CO. acquired a new position in shares of Bloom Energy Corporation (NYSE:BE) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 8,775 shares of the company’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BE. Banque Transatlantique SA lifted its position in Bloom Energy by 227.6% in the first quarter. Banque Transatlantique SA now owns 1,671 shares of the company’s stock valued at $30,000 after acquiring an additional 1,161 shares during the last quarter. Harbour Investments Inc. grew its position in Bloom Energy by 2,160.0% in the 1st quarter. Harbour Investments Inc. now owns 1,582 shares of the company’s stock valued at $31,000 after buying an additional 1,512 shares during the last quarter. NewEdge Advisors LLC increased its stake in Bloom Energy by 674.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,867 shares of the company’s stock valued at $37,000 after buying an additional 1,626 shares during the period. Vision Financial Markets LLC acquired a new stake in Bloom Energy in the first quarter valued at about $39,000. Finally, IFP Advisors Inc lifted its position in Bloom Energy by 1,560.8% in the second quarter. IFP Advisors Inc now owns 2,076 shares of the company’s stock valued at $50,000 after purchasing an additional 1,951 shares during the period. 77.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Cowen reiterated a “hold” rating on shares of Bloom Energy in a research report on Wednesday. Hsbc Global Res upgraded shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Bank of America raised their target price on shares of Bloom Energy from $24.00 to $26.00 and gave the stock an “underperform” rating in a research report on Monday, October 20th. Susquehanna raised their target price on shares of Bloom Energy to $157.00 and gave the stock a “positive” rating in a research report on Wednesday. Finally, Roth Capital reaffirmed a “neutral” rating and issued a $103.00 target price on shares of Bloom Energy in a research report on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Bloom Energy has a consensus rating of “Moderate Buy” and an average price target of $95.65.

Bloom Energy Stock Performance

Shares of BE opened at $132.51 on Friday. The business’s fifty day moving average price is $83.10 and its 200 day moving average price is $45.36. Bloom Energy Corporation has a 12-month low of $9.59 and a 12-month high of $144.20. The stock has a market capitalization of $31.01 billion, a PE ratio of 710.28, a price-to-earnings-growth ratio of 228.14 and a beta of 3.48. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 3.21.

Bloom Energy (NYSE:BE) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.07. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The firm had revenue of $519.05 million for the quarter, compared to analyst estimates of $425.18 million. During the same quarter in the prior year, the business earned ($0.01) earnings per share. Bloom Energy’s quarterly revenue was up 57.1% on a year-over-year basis. Equities research analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, insider Satish Chitoori sold 20,000 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $45.00, for a total value of $900,000.00. Following the completion of the sale, the insider directly owned 234,493 shares of the company’s stock, valued at approximately $10,552,185. This represents a 7.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kr Sridhar sold 60,000 shares of the company’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $48.97, for a total value of $2,938,200.00. Following the completion of the transaction, the chief executive officer directly owned 2,324,613 shares in the company, valued at $113,836,298.61. This represents a 2.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 301,193 shares of company stock valued at $14,893,710. Corporate insiders own 3.60% 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.