Franklin Resources Inc. Has $3.91 Million Stock Position in Bloom Energy Corporation $BE

Franklin Resources Inc. boosted its stake in shares of Bloom Energy Corporation (NYSE:BE) by 10.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 163,569 shares of the company’s stock after buying an additional 15,171 shares during the period. Franklin Resources Inc. owned about 0.07% of Bloom Energy worth $3,913,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Prospera Financial Services Inc increased its position in shares of Bloom Energy by 0.3% in the second quarter. Prospera Financial Services Inc now owns 95,532 shares of the company’s stock worth $2,285,000 after acquiring an additional 313 shares in the last quarter. Blair William & Co. IL boosted its stake in Bloom Energy by 2.8% in the 2nd quarter. Blair William & Co. IL now owns 16,246 shares of the company’s stock worth $389,000 after purchasing an additional 437 shares during the period. Robertson Stephens Wealth Management LLC grew its position in Bloom Energy by 7.4% during the 2nd quarter. Robertson Stephens Wealth Management LLC now owns 14,459 shares of the company’s stock worth $346,000 after purchasing an additional 1,000 shares in the last quarter. Banque Transatlantique SA raised its stake in Bloom Energy by 227.6% during the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company’s stock valued at $30,000 after purchasing an additional 1,161 shares during the period. Finally, Sei Investments Co. raised its stake in Bloom Energy by 3.7% during the 1st quarter. Sei Investments Co. now owns 33,424 shares of the company’s stock valued at $691,000 after purchasing an additional 1,184 shares during the period. 77.04% of the stock is owned by hedge funds and other institutional investors.

Bloom Energy Stock Up 6.5%

BE opened at $105.36 on Wednesday. The company has a market capitalization of $24.92 billion, a PE ratio of 549.61, a price-to-earnings-growth ratio of 62.48 and a beta of 3.00. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 2.88. Bloom Energy Corporation has a fifty-two week low of $15.15 and a fifty-two week high of $147.86. The business has a 50-day moving average of $105.50 and a 200-day moving average of $60.60.

Bloom Energy (NYSE:BE) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.08 by $0.07. The business had revenue of $519.05 million during the quarter, compared to analysts’ expectations of $425.18 million. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The firm’s quarterly revenue was up 57.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.01) EPS. Equities research analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Insider Activity at Bloom Energy

In related news, insider Maciej Kurzymski sold 13,105 shares of the company’s stock in a transaction on 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 sale, the insider directly owned 93,269 shares in the company, valued at approximately $13,439,130.21. This represents a 12.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jim H. Snabe sold 20,000 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $143.04, for a total value of $2,860,800.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 119,589 shares of company stock worth $16,439,742 over the last quarter. 3.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on Bloom Energy to $129.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Royal Bank Of Canada restated an “outperform” rating and set a $123.00 price objective on shares of Bloom Energy in a research report on Monday, October 20th. Hsbc Global Res upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 29th. Susquehanna increased their price target on shares of Bloom Energy to $157.00 and gave the stock a “positive” rating in a research report on Wednesday, October 29th. Finally, TD Cowen raised their price target on shares of Bloom Energy to $105.00 and gave the stock a “hold” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $93.77.

Bloom Energy 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.