Flputnam Investment Management Co. Makes New $800,000 Investment in Bloom Energy Corporation $BE

Flputnam Investment Management Co. acquired a new stake in Bloom Energy Corporation (NYSE:BE) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 9,455 shares of the company’s stock, valued at approximately $800,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted its stake in shares of Bloom Energy by 43.0% during the 1st quarter. Advisors Asset Management Inc. now owns 86,665 shares of the company’s stock valued at $1,704,000 after purchasing an additional 26,077 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in Bloom Energy in the second quarter worth about $108,000. Mizuho Markets Americas LLC boosted its position in Bloom Energy by 29.9% during the 2nd quarter. Mizuho Markets Americas LLC now owns 395,490 shares of the company’s stock valued at $9,460,000 after acquiring an additional 90,980 shares in the last quarter. Comerica Bank grew its holdings in shares of Bloom Energy by 5.8% during the 1st quarter. Comerica Bank now owns 88,554 shares of the company’s stock worth $1,741,000 after acquiring an additional 4,885 shares during the period. Finally, Jump Financial LLC grew its holdings in shares of Bloom Energy by 137.8% during the 2nd quarter. Jump Financial LLC now owns 332,722 shares of the company’s stock worth $7,959,000 after acquiring an additional 192,790 shares during the period. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Bloom Energy Price Performance

BE opened at $92.03 on Tuesday. The firm has a market cap of $21.76 billion, a PE ratio of 493.44, a P/E/G ratio of 56.10 and a beta of 3.00. The stock has a 50-day moving average price of $109.54 and a 200-day moving average price of $68.43. Bloom Energy Corporation has a 1 year low of $15.15 and a 1 year high of $147.86. 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 (NYSE:BE) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. The business had revenue of $519.05 million during the quarter, compared to analyst estimates of $425.18 million. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. Bloom Energy’s revenue was up 57.1% compared to the same quarter last year. During the same period last year, the business earned ($0.01) EPS. Sell-side analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Bank of America lifted their price target on Bloom Energy from $26.00 to $39.00 and gave the company an “underperform” rating in a research report on Tuesday, November 25th. BTIG Research raised their price objective on Bloom Energy to $145.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Evercore ISI reaffirmed an “outperform” rating on shares of Bloom Energy in a research report on Monday, October 13th. JPMorgan Chase & Co. increased their price target on shares of Bloom Energy to $129.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Finally, Hsbc Global Res raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $93.77.

Insider Buying and Selling

In related news, insider Shawn Marie Soderberg sold 36,666 shares of the company’s stock in a transaction that occurred on 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 directly owned 225,949 shares of the company’s stock, valued at approximately $31,858,809. This represents a 13.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Aman Joshi sold 4,543 shares of Bloom Energy stock in a transaction on Friday, November 14th. The stock was sold at an average price of $109.13, for a total value of $495,777.59. Following the completion of the sale, the insider directly owned 219,818 shares of the company’s stock, valued at approximately $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 sold 120,410 shares of company stock worth $16,557,185 over the last 90 days. 3.50% of the stock is currently owned by company insiders.

Bloom Energy Profile

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.