Lisanti Capital Growth LLC Takes $5.51 Million Position in Bloom Energy Corporation $BE

Lisanti Capital Growth LLC acquired a new position in shares of Bloom Energy Corporation (NYSE:BE) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 230,130 shares of the company’s stock, valued at approximately $5,505,000. Bloom Energy comprises approximately 1.5% of Lisanti Capital Growth LLC’s holdings, making the stock its 17th biggest position. Lisanti Capital Growth LLC owned 0.10% of Bloom Energy at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BE. Teacher Retirement System of Texas lifted its holdings in shares of Bloom Energy by 662.4% in the first quarter. Teacher Retirement System of Texas now owns 73,518 shares of the company’s stock worth $1,445,000 after acquiring an additional 63,875 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Bloom Energy by 43.3% in the first quarter. Envestnet Asset Management Inc. now owns 24,965 shares of the company’s stock valued at $491,000 after buying an additional 7,540 shares in the last quarter. M&T Bank Corp grew its position in Bloom Energy by 14.7% during the 1st quarter. M&T Bank Corp now owns 54,922 shares of the company’s stock worth $1,080,000 after acquiring an additional 7,023 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Bloom Energy by 47.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,373 shares of the company’s stock worth $66,000 after purchasing an additional 1,081 shares in the last quarter. Finally, Xponance Inc. boosted its stake in shares of Bloom Energy by 6.4% during the first quarter. Xponance Inc. now owns 15,484 shares of the company’s stock valued at $304,000 after purchasing an additional 935 shares in the last quarter. Institutional investors own 77.04% of the company’s stock.

Insider Activity at Bloom Energy

In related news, Director Jim H. Snabe sold 20,000 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was 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 SEC, which is available through this hyperlink. Also, insider Shawn Marie Soderberg sold 36,666 shares of the firm’s 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 completion of the transaction, the insider owned 225,949 shares of the company’s stock, valued at approximately $31,858,809. This represents a 13.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 406,964 shares of company stock worth $29,954,235 in the last ninety days. Insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BE shares. BTIG Research raised their price target on shares of Bloom Energy to $145.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Morgan Stanley raised their target price on Bloom Energy to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Cowen restated a “hold” rating on shares of Bloom Energy in a research note on Wednesday, October 29th. Bank of America boosted their price target on shares of Bloom Energy from $24.00 to $26.00 and gave the company an “underperform” rating in a research note on Monday, October 20th. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Bloom Energy in a research note on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $95.65.

Bloom Energy Trading Down 0.8%

Shares of Bloom Energy stock opened at $135.71 on Friday. Bloom Energy Corporation has a 1 year low of $11.02 and a 1 year high of $147.82. The stock has a fifty day moving average price of $91.63 and a 200-day moving average price of $49.75. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 2.88. The firm has a market cap of $31.76 billion, a PE ratio of 751.17, a P/E/G ratio of 76.19 and a beta of 3.43.

Bloom Energy (NYSE:BE) last released its earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $425.18 million. During the same period in the previous year, the company earned ($0.01) earnings per share. The company’s quarterly revenue was up 57.1% on a year-over-year basis. Equities research analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current year.

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.