Curbstone Financial Management Corp Makes New Investment in Bloom Energy Corporation $BE

Curbstone Financial Management Corp bought a new position in Bloom Energy Corporation (NYSE:BE) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 5,906 shares of the company’s stock, valued at approximately $499,000.

Several other large investors have also recently added to or reduced their stakes in BE. Norges Bank bought a new stake in Bloom Energy during the second quarter valued at $57,821,000. Man Group plc boosted its holdings in shares of Bloom Energy by 177.4% in the 2nd quarter. Man Group plc now owns 2,392,915 shares of the company’s stock valued at $57,239,000 after buying an additional 1,530,167 shares during the period. Driehaus Capital Management LLC bought a new stake in shares of Bloom Energy during the 1st quarter valued at about $21,066,000. Goldman Sachs Group Inc. boosted its stake in Bloom Energy by 50.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company’s stock valued at $49,127,000 after acquiring an additional 836,810 shares during the period. Finally, Qube Research & Technologies Ltd bought a new position in shares of Bloom Energy during the second quarter valued at approximately $18,808,000. 77.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BE. TD Cowen raised their price target on Bloom Energy to $105.00 and gave the stock a “hold” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. boosted their price target on shares of Bloom Energy to $129.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. HSBC upgraded shares of Bloom Energy from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a research report on Wednesday, October 29th. Wedbush set a $39.00 price objective on shares of Bloom Energy in a research report on Tuesday, November 25th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Bloom Energy in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $93.77.

Insider Buying and Selling

In other news, Director Jim H. Snabe sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $143.04, for a total transaction of $2,860,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Aman Joshi sold 4,543 shares of Bloom Energy stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $109.13, for a total transaction of $495,777.59. Following the completion of the transaction, the insider directly owned 219,818 shares in the company, valued at $23,988,738.34. This represents a 2.02% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 120,410 shares of company stock worth $16,557,185. 3.60% of the stock is owned by corporate insiders.

Bloom Energy Trading Up 0.3%

Shares of NYSE:BE opened at $91.66 on Thursday. The company has a 50 day moving average of $108.58 and a 200-day moving average of $69.08. The firm has a market cap of $21.68 billion, a P/E ratio of 512.56, a P/E/G ratio of 57.75 and a beta of 3.00. Bloom Energy Corporation has a twelve month low of $15.15 and a twelve month high of $147.86. The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98.

Bloom Energy (NYSE:BE) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. The business had revenue of $519.05 million for 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%. The business’s revenue for the quarter was up 57.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.01) earnings per share. As a group, analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

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.