38,100 Shares in Bloom Energy Corporation $BE Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Bloom Energy Corporation (NYSE:BE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 38,100 shares of the company’s stock, valued at approximately $911,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BE. Blair William & Co. IL increased its position in shares of Bloom Energy by 2.8% during the second quarter. Blair William & Co. IL now owns 16,246 shares of the company’s stock worth $389,000 after acquiring an additional 437 shares during the period. CWM LLC increased its position in shares of Bloom Energy by 23.7% during the first quarter. CWM LLC now owns 3,360 shares of the company’s stock worth $66,000 after acquiring an additional 644 shares during the period. Xponance Inc. increased its position in shares of Bloom Energy by 6.4% during the first quarter. Xponance Inc. now owns 15,484 shares of the company’s stock worth $304,000 after acquiring an additional 935 shares during the period. Robertson Stephens Wealth Management LLC increased its position in shares of Bloom Energy by 7.4% during the second quarter. Robertson Stephens Wealth Management LLC now owns 14,459 shares of the company’s stock worth $346,000 after acquiring an additional 1,000 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of Bloom Energy by 47.2% during the first quarter. Nisa Investment Advisors LLC now owns 3,373 shares of the company’s stock worth $66,000 after acquiring an additional 1,081 shares during the period. 77.04% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Bloom Energy news, insider Aman Joshi sold 4,870 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $43.36, for a total value of $211,163.20. Following the completion of the sale, the insider directly owned 224,361 shares in the company, valued at $9,728,292.96. This trade represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shawn Marie Soderberg sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $52.00, for a total transaction of $1,300,000.00. Following the completion of the sale, the insider owned 225,949 shares of the company’s stock, valued at approximately $11,749,348. This trade represents a 9.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 301,193 shares of company stock valued at $14,893,710 over the last quarter. Insiders own 3.60% of the company’s stock.

Bloom Energy Stock Performance

Shares of BE stock opened at $101.56 on Friday. The firm has a market cap of $23.76 billion, a price-to-earnings ratio of 2,539.61, a PEG ratio of 149.69 and a beta of 3.48. The company’s 50 day moving average is $74.04 and its 200 day moving average is $40.89. The company has a quick ratio of 3.21, a current ratio of 4.99 and a debt-to-equity ratio of 2.18. Bloom Energy Corporation has a 52-week low of $9.05 and a 52-week high of $125.75.

Bloom Energy (NYSE:BE) last announced its earnings results on Thursday, July 31st. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.08. The company had revenue of $401.24 million during the quarter, compared to the consensus estimate of $382.23 million. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. Bloom Energy’s revenue was up 19.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.06) earnings per share. Bloom Energy has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BE has been the topic of a number of research reports. Evercore ISI reaffirmed an “outperform” rating on shares of Bloom Energy in a research report on Monday, October 13th. Robert W. Baird raised their target price on shares of Bloom Energy from $45.00 to $61.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. BTIG Research raised their target price on shares of Bloom Energy from $42.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. JPMorgan Chase & Co. raised their target price on shares of Bloom Energy from $40.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Finally, BMO Capital Markets lifted their price objective on shares of Bloom Energy from $33.00 to $97.00 and gave the company a “market perform” rating in a report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $65.70.

Bloom Energy Company Profile

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.