Castleark Management LLC Purchases Shares of 7,420 Bloom Energy Corporation $BE

Castleark Management LLC 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 institutional investor acquired 7,420 shares of the company’s stock, valued at approximately $177,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. FORA Capital LLC acquired a new stake in Bloom Energy during the second quarter worth approximately $510,000. Tower Research Capital LLC TRC grew its position in shares of Bloom Energy by 303.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 29,266 shares of the company’s stock valued at $700,000 after buying an additional 22,015 shares during the last quarter. Corient Private Wealth LLC acquired a new stake in Bloom Energy during the 2nd quarter worth $235,000. BROOKFIELD Corp ON lifted its position in Bloom Energy by 33.2% in the second quarter. BROOKFIELD Corp ON now owns 66,072 shares of the company’s stock valued at $1,580,000 after acquiring an additional 16,473 shares during the last quarter. Finally, Vident Advisory LLC acquired a new position in Bloom Energy in the second quarter valued at $342,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

Analysts Set New Price Targets

BE has been the subject of several research reports. JPMorgan Chase & Co. boosted their target price on Bloom Energy to $129.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Susquehanna boosted their price objective on Bloom Energy to $157.00 and gave the company a “positive” rating in a research note on Wednesday, October 29th. Bank of America raised their target price on shares of Bloom Energy from $26.00 to $39.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 25th. Evercore ISI reiterated an “outperform” rating on shares of Bloom Energy in a research report on Monday, October 13th. Finally, Wells Fargo & Company raised their price objective on shares of Bloom Energy to $95.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $93.77.

Insider Transactions at Bloom Energy

In related news, insider Maciej Kurzymski sold 13,105 shares of the business’s 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 sale, the insider directly owned 93,269 shares in the company, valued at $13,439,130.21. The trade was a 12.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shawn Marie Soderberg sold 36,666 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $141.00, for a total transaction of $5,169,906.00. Following the completion of the sale, the insider directly owned 225,949 shares in the company, valued at approximately $31,858,809. The trade was a 13.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 116,715 shares of company stock worth $16,236,935 over the last ninety days. 3.60% of the stock is currently owned by corporate insiders.

Bloom Energy Price Performance

Shares of NYSE BE opened at $89.74 on Tuesday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.88 and a current ratio of 4.40. Bloom Energy Corporation has a one year low of $15.15 and a one year high of $147.86. The firm has a market capitalization of $21.22 billion, a P/E ratio of 605.50, a PEG ratio of 59.99 and a beta of 3.00. The company’s fifty day moving average is $110.18 and its two-hundred day moving average is $66.12.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $425.18 million. During the same quarter last year, the business earned ($0.01) earnings per share. The business’s revenue for the quarter was up 57.1% compared to the same quarter last year. Analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

About Bloom Energy

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.