QRG Capital Management Inc. Buys New Stake in Bloom Energy Corporation $BE

QRG Capital Management Inc. bought a new stake in shares of Bloom Energy Corporation (NYSE:BE) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 4,083 shares of the company’s stock, valued at approximately $345,000.

A number of other institutional investors also recently made changes to their positions in BE. N.E.W. Advisory Services LLC purchased a new stake in shares of Bloom Energy in the third quarter valued at $32,000. Elevation Point Wealth Partners LLC acquired a new position in Bloom Energy in the 2nd quarter valued at about $36,000. NewEdge Advisors LLC lifted its holdings in Bloom Energy by 674.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,867 shares of the company’s stock valued at $37,000 after purchasing an additional 1,626 shares in the last quarter. Cranbrook Wealth Management LLC acquired a new stake in shares of Bloom Energy during the 3rd quarter worth about $39,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Bloom Energy during the third quarter worth about $42,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Bloom Energy to $115.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. Mizuho set a $89.00 target price on shares of Bloom Energy in a research note on Wednesday, October 29th. Zacks Research lowered Bloom Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Susquehanna raised their price objective on Bloom Energy to $157.00 and gave the stock a “positive” rating in a report on Wednesday, October 29th. Finally, BTIG Research lifted their price objective on Bloom Energy to $145.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $100.57.

Bloom Energy Stock Performance

Shares of NYSE:BE opened at $144.63 on Friday. The business has a 50-day moving average of $108.30 and a two-hundred day moving average of $83.65. The firm has a market capitalization of $34.21 billion, a PE ratio of 809.06, a P/E/G ratio of 12.26 and a beta of 3.01. 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 12 month low of $15.15 and a 12 month high of $155.87.

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

Insider Buying and Selling

In other news, insider Maciej Kurzymski sold 3,264 shares of the firm’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $86.48, for a total value of $282,270.72. Following the transaction, the insider owned 90,005 shares of the company’s stock, valued at approximately $7,783,632.40. This trade represents a 3.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shawn Marie Soderberg sold 1,583 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $105.97, for a total transaction of $167,750.51. Following the sale, the insider directly owned 221,633 shares of the company’s stock, valued at approximately $23,486,449.01. This trade represents a 0.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 120,410 shares of company stock valued at $16,557,185. 3.60% of the stock is owned by corporate 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.