Bedell Frazier Investment Counselling LLC Makes New Investment in Bloom Energy Corporation $BE

Bedell Frazier Investment Counselling LLC acquired a new stake in shares of Bloom Energy Corporation (NYSE:BE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 9,364 shares of the company’s stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BE. Geode Capital Management LLC boosted its holdings in Bloom Energy by 2.1% in the second quarter. Geode Capital Management LLC now owns 4,756,516 shares of the company’s stock valued at $113,790,000 after acquiring an additional 95,990 shares during the last quarter. Public Investment Fund raised its holdings in shares of Bloom Energy by 16.8% in 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. lifted its stake in shares of Bloom Energy by 29.5% in 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 purchasing an additional 821,814 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings 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 worth $49,127,000 after purchasing an additional 836,810 shares during the period. Finally, Northern Trust Corp increased its position in Bloom Energy by 3.2% during the 1st quarter. Northern Trust Corp now owns 1,916,535 shares of the company’s stock worth $37,679,000 after purchasing an additional 60,141 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Stock Performance

Shares of BE opened at $106.79 on Tuesday. The firm has a market cap of $25.26 billion, a price-to-earnings ratio of 621.61, a PEG ratio of 63.05 and a beta of 3.43. The company has a quick ratio of 2.88, a current ratio of 4.40 and a debt-to-equity ratio of 1.98. The business’s 50 day moving average is $99.46 and its two-hundred day moving average is $54.22. Bloom Energy Corporation has a 52-week low of $15.15 and a 52-week high of $147.86.

Bloom Energy (NYSE:BE) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. The business had revenue of $508.69 million during the quarter, compared to the consensus estimate of $425.18 million. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The business’s quarterly revenue was up 57.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.01) earnings per share. Analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BE shares. Roth Capital reaffirmed a “neutral” rating and set a $103.00 price target on shares of Bloom Energy in a research report on Wednesday, October 29th. Mizuho set a $89.00 target price on shares of Bloom Energy in a report on Wednesday, October 29th. BTIG Research upped their price target on shares of Bloom Energy to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. BMO Capital Markets set a $136.00 price objective on Bloom Energy in a research report on Wednesday, October 29th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Bloom Energy in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Bloom Energy has a consensus rating of “Hold” and a consensus target price of $95.65.

Insider Buying and Selling

In related news, Director Mary K. Bush sold 36,000 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $142.82, for a total value of $5,141,520.00. Following the completion of the sale, the director directly owned 133,524 shares of the company’s stock, valued at $19,069,897.68. The trade was a 21.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jim H. Snabe sold 20,000 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $143.04, for a total value of $2,860,800.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 330,600 shares of company stock worth $26,607,760. 3.50% of the stock is currently owned by insiders.

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.