Sumitomo Mitsui Trust Group Inc. grew its stake in Bloom Energy Corporation (NYSE:BE – Free Report) by 13.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 671,185 shares of the company’s stock after buying an additional 78,122 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Bloom Energy worth $185,905,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the stock. Continuum Advisory LLC bought a new position in shares of Bloom Energy during the 2nd quarter valued at approximately $25,000. Trifecta Capital Advisors LLC bought a new stake in Bloom Energy during the 3rd quarter worth approximately $26,000. MJT & Associates Financial Advisory Group Inc. raised its stake in Bloom Energy by 49.3% during the 2nd quarter. MJT & Associates Financial Advisory Group Inc. now owns 112 shares of the company’s stock worth $34,000 after acquiring an additional 37 shares during the period. Markowski Investments purchased a new position in Bloom Energy during the second quarter valued at approximately $37,000. Finally, Oakworth Capital Inc. purchased a new position in Bloom Energy during the third quarter valued at approximately $35,000. Institutional investors own 77.04% of the company’s stock.
Bloom Energy Price Performance
Shares of NYSE:BE opened at $202.46 on Monday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.08 and a current ratio of 3.74. The firm has a fifty day moving average price of $248.16 and a 200 day moving average price of $219.80. Bloom Energy Corporation has a fifty-two week low of $75.70 and a fifty-two week high of $351.28. The firm has a market cap of $59.86 billion, a price-to-earnings ratio of 124.21, a P/E/G ratio of 2.05 and a beta of 3.63.
Bloom Energy (NYSE:BE – Get Free Report) last posted its earnings results on Thursday, October 22nd. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.25. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Bloom Energy had a net margin of 13.53% and a return on equity of 45.29%. Bloom Energy’s quarterly revenue was up 138.1% on a year-over-year basis. During the same period last year, the company posted $0.15 earnings per share. As a group, sell-side analysts expect that Bloom Energy Corporation will post 2.61 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several brokerages have recently commented on BE. KeyCorp restated a “sector weight” rating on shares of Bloom Energy in a research report on Friday, October 23rd. Clear Str raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Jefferies Financial Group reiterated a “hold” rating and issued a $242.00 price target on shares of Bloom Energy in a research note on Friday, October 23rd. Sanford C. Bernstein increased their price target on Bloom Energy from $282.00 to $306.00 and gave the stock a “market perform” rating in a research note on Friday, October 23rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Bloom Energy in a report on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Bloom Energy currently has a consensus rating of “Hold” and a consensus target price of $264.33.
Check Out Our Latest Research Report on BE
Insider Activity
In related news, insider Shawn Soderberg sold 2,895 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $233.60, for a total value of $676,272.00. Following the sale, the insider directly owned 129,370 shares in the company, valued at approximately $30,220,832. The trade was a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Aman Joshi sold 8,437 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $277.17, for a total value of $2,338,483.29. Following the transaction, the insider directly owned 147,092 shares of the company’s stock, valued at approximately $40,769,489.64. The trade was a 5.42% 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 74,698 shares of company stock valued at $18,697,058. 3.00% of the stock is owned by corporate insiders.
Trending Headlines about Bloom Energy
Here are the key news stories impacting Bloom Energy this week:
- Positive Sentiment: Bloom Energy’s addition to the S&P 500 in September increases its visibility and can create demand from index-tracking funds. Analysts also see substantial long-term opportunity as data centers and artificial-intelligence infrastructure require reliable power. Bloom Energy Just Joined the S&P 500. Here’s What History Says Happens Next.
- Positive Sentiment: A comparison with Plug Power favors BE on earnings growth, profitability and liquidity, supporting the view that Bloom is one of the stronger companies in the fuel-cell sector. Bloom Energy or Plug Power: Which Offers Better Long-Term Upside Now?
- Positive Sentiment: Recent coverage continues to highlight Bloom’s record quarter and explosive growth potential, while a recent analyst upgrade provided additional support for the stock’s investment case. Bloom Energy stock faces cash-flow test after record quarter
Bloom Energy Company Profile
Bloom Energy Corporation develops and manufactures energy systems designed to generate electricity on-site. Its primary product is the Bloom Energy Server, a solid oxide fuel cell platform that converts fuel into electricity through an electrochemical process rather than combustion. The systems are used by businesses, utilities, data centers and other organizations seeking reliable, distributed power.
The company also develops electrolyzers based on its solid oxide technology. These systems are designed to produce hydrogen from electricity and water and support applications related to industrial operations, energy storage and the emerging hydrogen economy.
Featured Articles
- Five stocks we like better than Bloom Energy
- STMicroelectronics Could Reach New Highs—Here’s What Needs to Happen
- Marvell Eyes a Swing for the AI Networking Fences as Markets Weigh Lumentum Price Tag
- Exxon’s Refining Profits Soared—Did Chevron Get the Same Windfall?
- Eli Lilly’s First Full Medicare Quarter: Is Volume Still Outrunning Price Cuts?
Want to see what other hedge funds are holding BE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bloom Energy Corporation (NYSE:BE – Free Report).
Receive News & Ratings for Bloom Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bloom Energy and related companies with MarketBeat.com's FREE daily email newsletter.
