FCG Investment Co Buys Shares of 36,849 Bloom Energy Corporation $BE

FCG Investment Co purchased a new position in Bloom Energy Corporation (NYSE:BE) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 36,849 shares of the company’s stock, valued at approximately $3,116,000. Bloom Energy accounts for 1.5% of FCG Investment Co’s portfolio, making the stock its 13th largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in BE. Elevation Point Wealth Partners LLC acquired a new position in shares of Bloom Energy during the second quarter valued at approximately $36,000. Banque Transatlantique SA increased its position in shares of 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. NewEdge Advisors LLC raised its stake in shares of Bloom Energy by 674.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,867 shares of the company’s stock worth $37,000 after buying an additional 1,626 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Bloom Energy by 1,560.8% in the second quarter. IFP Advisors Inc now owns 2,076 shares of the company’s stock valued at $50,000 after buying an additional 1,951 shares during the period. Finally, Bernard Wealth Management Corp. lifted its holdings in shares of Bloom Energy by 150.0% in the second quarter. Bernard Wealth Management Corp. now owns 2,500 shares of the company’s stock valued at $60,000 after buying an additional 1,500 shares during the period. 77.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BE shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $123.00 target price on shares of Bloom Energy in a report on Monday, October 20th. Wells Fargo & Company raised their price objective on shares of Bloom Energy to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. Morgan Stanley lifted their price objective on shares of Bloom Energy to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. BMO Capital Markets set a $136.00 target price on shares of Bloom Energy in a research note on Wednesday, October 29th. Finally, Susquehanna raised their target price on shares of Bloom Energy to $157.00 and gave the stock a “positive” rating 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, twelve have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $93.77.

Bloom Energy Stock Up 4.0%

BE stock opened at $80.05 on Friday. 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 $18.93 billion, a P/E ratio of 486.72, a P/E/G ratio of 48.61 and a beta of 3.00. Bloom Energy Corporation has a 52-week low of $15.15 and a 52-week high of $147.86. The company’s 50 day simple moving average is $109.86 and its 200-day simple moving average is $66.77.

Bloom Energy (NYSE:BE) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $425.18 million. During the same period in the previous year, the company posted ($0.01) EPS. The company’s quarterly revenue was up 57.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insider Activity

In other news, insider Shawn Marie Soderberg sold 36,666 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $141.00, for a total value of $5,169,906.00. Following the transaction, the insider owned 225,949 shares in the company, valued at $31,858,809. This represents a 13.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Maciej Kurzymski sold 13,105 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $144.09, for a total transaction of $1,888,299.45. Following the completion of the sale, the insider directly owned 93,269 shares of the company’s stock, valued at $13,439,130.21. This trade represents a 12.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 120,410 shares of company stock valued at $16,557,185 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

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.