CIBC Asset Management Inc Makes New Investment in Bloom Energy Corporation $BE

CIBC Asset Management Inc bought a new position in shares of Bloom Energy Corporation (NYSE:BE) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,116 shares of the company’s stock, valued at approximately $602,000.

A number of other large investors also recently modified their holdings of BE. CWM LLC grew its position in shares of Bloom Energy by 3.3% during the 3rd quarter. CWM LLC now owns 5,111 shares of the company’s stock valued at $432,000 after buying an additional 162 shares during the last quarter. Seelaus Asset Management LLC boosted its stake in Bloom Energy by 2.4% in the third quarter. Seelaus Asset Management LLC now owns 11,420 shares of the company’s stock valued at $966,000 after acquiring an additional 270 shares during the period. Parkside Financial Bank & Trust boosted its position in Bloom Energy by 250.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock valued at $33,000 after purchasing an additional 281 shares during the period. Prospera Financial Services Inc boosted its holdings in shares of Bloom Energy by 0.3% during the second quarter. Prospera Financial Services Inc now owns 95,532 shares of the company’s stock valued at $2,285,000 after acquiring an additional 313 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Bloom Energy by 14.1% in the third quarter. GAMMA Investing LLC now owns 2,708 shares of the company’s stock valued at $229,000 after purchasing an additional 335 shares during the period. 77.04% of the stock is currently owned by institutional investors.

Bloom Energy Trading Up 8.8%

Shares of BE stock opened at $165.72 on Thursday. The firm has a fifty day moving average of $111.02 and a 200-day moving average of $86.70. The stock has a market cap of $39.19 billion, a price-to-earnings ratio of 846.17, a P/E/G ratio of 12.83 and a beta of 3.01. Bloom Energy Corporation has a 52-week low of $15.15 and a 52-week high of $167.57. 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, beating 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 business had revenue of $519.05 million for the quarter, compared to analyst estimates of $425.18 million. During the same period in the previous year, the business earned ($0.01) EPS. The firm’s revenue was up 57.1% on a year-over-year basis. On average, equities research analysts forecast that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Aman Joshi sold 4,543 shares of the company’s stock in a transaction that occurred 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 sale, the insider directly owned 219,818 shares in the company, valued at approximately $23,988,738.34. This represents a 2.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 value of $1,888,299.45. Following the completion of the transaction, the insider directly owned 93,269 shares of the company’s stock, valued at approximately $13,439,130.21. The trade was a 12.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 120,410 shares of company stock valued at $16,557,185. 3.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BE has been the subject of a number of research analyst reports. UBS Group upped their target price on Bloom Energy to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. HSBC upgraded Bloom Energy from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a report on Wednesday, October 29th. Evercore ISI reissued an “outperform” rating on shares of Bloom Energy in a research report on Thursday, January 8th. Morgan Stanley increased their price objective on Bloom Energy to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Finally, Mizuho set a $89.00 target price on shares of Bloom Energy in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $109.83.

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.