Teacher Retirement System of Texas Boosts Stock Position in Bloom Energy Corporation $BE

Teacher Retirement System of Texas raised its holdings in Bloom Energy Corporation (NYSE:BE) by 9.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,500 shares of the company’s stock after buying an additional 6,982 shares during the quarter. Teacher Retirement System of Texas’ holdings in Bloom Energy were worth $1,926,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Public Investment Fund grew its holdings in shares of Bloom Energy by 16.8% during the 1st quarter. Public Investment Fund now owns 3,803,770 shares of the company’s stock worth $74,782,000 after purchasing an additional 546,372 shares during the period. Fuller & Thaler Asset Management Inc. boosted its stake in shares of 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 valued at $71,010,000 after buying an additional 821,814 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Bloom Energy by 50.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company’s stock valued at $49,127,000 after buying an additional 836,810 shares during the last quarter. Northern Trust Corp raised its position in shares of Bloom Energy by 3.2% during the 1st quarter. Northern Trust Corp now owns 1,916,535 shares of the company’s stock valued at $37,679,000 after acquiring an additional 60,141 shares in the last quarter. Finally, Tree Line Advisors Hong Kong Ltd. acquired a new stake in Bloom Energy during the first quarter worth about $22,609,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Insider Buying and Selling

In other news, insider Aman Joshi sold 4,870 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $43.36, for a total value of $211,163.20. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Maciej Kurzymski sold 2,474 shares of the firm’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $70.47, for a total value of $174,342.78. Following the completion of the sale, the insider owned 106,374 shares of the company’s stock, valued at approximately $7,496,175.78. This trade represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 301,193 shares of company stock valued at $14,893,710 in the last 90 days. 3.50% of the stock is owned by corporate insiders.

Bloom Energy Stock Performance

Shares of NYSE BE opened at $142.59 on Tuesday. The business has a fifty day simple moving average of $84.96 and a 200 day simple moving average of $46.63. The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98. The firm has a market capitalization of $33.37 billion, a price-to-earnings ratio of 734.22, a PEG ratio of 235.83 and a beta of 3.43. Bloom Energy Corporation has a one year low of $10.00 and a one year high of $147.82.

Bloom Energy (NYSE:BE) last issued its earnings results on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The business had revenue of $519.05 million during the quarter, compared to analyst estimates of $425.18 million. During the same period in the prior year, the company posted ($0.01) earnings per share. Bloom Energy’s revenue was up 57.1% on a year-over-year basis. Sell-side analysts expect that Bloom Energy Corporation will post -0.23 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Mizuho set a $89.00 target price on Bloom Energy in a research report on Wednesday, October 29th. UBS Group increased their price target on Bloom Energy to $115.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. BMO Capital Markets set a $136.00 target price on Bloom Energy in a research note on Wednesday, October 29th. Royal Bank Of Canada reiterated an “outperform” rating and set a $123.00 price target on shares of Bloom Energy in a report on Monday, October 20th. Finally, Bank of America increased their price target on shares of Bloom Energy from $24.00 to $26.00 and gave the stock an “underperform” rating in a research note on Monday, October 20th. Three analysts have rated the stock with a Strong Buy rating, ten have given 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.65.

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.