EFG Asset Management North America Corp. Makes New $728,000 Investment in Bloom Energy Corporation $BE

EFG Asset Management North America Corp. bought a new stake in Bloom Energy Corporation (NYSE:BE) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,596 shares of the company’s stock, valued at approximately $728,000.

Several other institutional investors have also bought and sold shares of the stock. CWM LLC boosted its holdings in Bloom Energy by 3.3% during the 3rd quarter. CWM LLC now owns 5,111 shares of the company’s stock worth $432,000 after acquiring an additional 162 shares during the last quarter. Seelaus Asset Management LLC lifted its position in shares of Bloom Energy by 2.4% during the third quarter. Seelaus Asset Management LLC now owns 11,420 shares of the company’s stock valued at $966,000 after purchasing an additional 270 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Bloom Energy by 250.9% during the third quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock worth $33,000 after purchasing an additional 281 shares during the last quarter. Prospera Financial Services Inc grew its position in Bloom Energy by 0.3% in the 2nd quarter. Prospera Financial Services Inc now owns 95,532 shares of the company’s stock worth $2,285,000 after purchasing an additional 313 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Bloom Energy by 14.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,708 shares of the company’s stock valued at $229,000 after buying an additional 335 shares during the last quarter. Institutional investors own 77.04% of the company’s stock.

Insiders Place Their Bets

In other news, 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 transaction, the insider directly owned 219,818 shares in the company, valued at approximately $23,988,738.34. The trade was a 2.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shawn Marie Soderberg sold 36,666 shares of the 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 sale, the insider directly owned 225,949 shares in the company, valued at $31,858,809. This trade represents a 13.96% 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 in the last three months. Insiders own 3.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Zacks Research downgraded Bloom Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Daiwa Capital Markets set a $98.00 price objective on Bloom Energy in a research note on Tuesday, December 2nd. UBS Group raised their target price on Bloom Energy to $115.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Bloom Energy in a report on Thursday, October 30th. Finally, Bank of America raised their price objective on shares of Bloom Energy from $26.00 to $39.00 and gave the stock an “underperform” rating in a report on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $103.14.

Bloom Energy Trading Up 8.9%

Shares of BE opened at $151.99 on Wednesday. Bloom Energy Corporation has a fifty-two week low of $15.15 and a fifty-two week high of $155.87. The business has a 50-day moving average of $109.89 and a 200 day moving average of $86.14. The firm has a market cap of $35.95 billion, a P/E ratio of 775.67, a price-to-earnings-growth ratio of 11.76 and a beta of 3.01. 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 (NYSE:BE) last issued its earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $425.18 million. During the same quarter last year, the business earned ($0.01) earnings per share. The company’s quarterly revenue was up 57.1% on a year-over-year basis. As a group, research analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current year.

About Bloom Energy

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.