Cetera Investment Advisers Boosts Stock Holdings in Bloom Energy Corporation $BE

Cetera Investment Advisers grew its stake in shares of Bloom Energy Corporation (NYSE:BE) by 98.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,582 shares of the company’s stock after buying an additional 30,605 shares during the quarter. Cetera Investment Advisers’ holdings in Bloom Energy were worth $1,473,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of BE. Envestnet Asset Management Inc. grew its position in Bloom Energy by 43.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 24,965 shares of the company’s stock worth $491,000 after acquiring an additional 7,540 shares during the last quarter. Bayforest Capital Ltd purchased a new stake in shares of Bloom Energy during the first quarter valued at approximately $2,055,000. Harbour Investments Inc. boosted its stake in shares of Bloom Energy by 2,160.0% during the first quarter. Harbour Investments Inc. now owns 1,582 shares of the company’s stock valued at $31,000 after purchasing an additional 1,512 shares during the period. Jefferies Financial Group Inc. grew its holdings in shares of Bloom Energy by 484.7% in the first quarter. Jefferies Financial Group Inc. now owns 116,932 shares of the company’s stock worth $2,299,000 after purchasing an additional 96,932 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Bloom Energy by 11.2% in the first quarter. PNC Financial Services Group Inc. now owns 12,611 shares of the company’s stock worth $248,000 after buying an additional 1,273 shares during the period. Institutional investors own 77.04% of the company’s stock.

Insiders Place Their Bets

In related news, insider Maciej Kurzymski sold 13,105 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $144.09, for a total value of $1,888,299.45. Following the completion of the transaction, the insider directly owned 93,269 shares in the company, valued at $13,439,130.21. This trade represents a 12.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Aman Joshi sold 4,543 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $109.13, for a total transaction of $495,777.59. Following the sale, the insider directly owned 219,818 shares in the company, valued at $23,988,738.34. The trade was a 2.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 119,589 shares of company stock valued at $16,439,742 in the last 90 days. Corporate insiders own 3.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Susquehanna increased their price target on shares of Bloom Energy to $157.00 and gave the company a “positive” rating in a research report on Wednesday, October 29th. BMO Capital Markets set a $136.00 target price on shares of Bloom Energy in a report on Wednesday, October 29th. Jefferies Financial Group reissued an “underperform” rating and issued a $53.00 target price on shares of Bloom Energy in a research note on Friday, October 31st. Wells Fargo & Company upped their price target on Bloom Energy to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. Finally, HSBC upgraded Bloom Energy from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $93.57.

Bloom Energy Stock Performance

Shares of BE opened at $99.31 on Tuesday. The company has a 50-day simple moving average of $104.94 and a two-hundred day simple moving average of $60.00. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 2.88. The firm has a market capitalization of $23.49 billion, a PE ratio of 606.89, a price-to-earnings-growth ratio of 68.99 and a beta of 3.00. Bloom Energy Corporation has a one year low of $15.15 and a one year high of $147.86.

Bloom Energy (NYSE:BE) last posted its 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 firm had revenue of $519.05 million for the quarter, compared to the consensus estimate of $425.18 million. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The business’s revenue for the quarter was up 57.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.01) EPS. On average, analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current fiscal 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.