Kestra Advisory Services LLC trimmed its position in shares of Bloom Energy Corporation (NYSE:BE – Free Report) by 46.6% during the first quarter, Holdings Channel reports. The institutional investor owned 35,810 shares of the company’s stock after selling 31,312 shares during the quarter. Kestra Advisory Services LLC’s holdings in Bloom Energy were worth $4,852,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. lifted its stake in Bloom Energy by 7.8% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 517,286 shares of the company’s stock worth $70,087,000 after acquiring an additional 37,403 shares during the last quarter. Cvfg LLC acquired a new position in Bloom Energy during the 1st quarter worth approximately $10,114,000. Swedbank AB increased its position in shares of Bloom Energy by 23.9% in the 1st quarter. Swedbank AB now owns 59,519 shares of the company’s stock valued at $8,064,000 after purchasing an additional 11,487 shares during the last quarter. Walser Wealth Management Company A Ltd Liability Co purchased a new stake in shares of Bloom Energy in the 1st quarter valued at approximately $237,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in shares of Bloom Energy by 17.4% in the 1st quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 135,000 shares of the company’s stock valued at $18,291,000 after purchasing an additional 20,000 shares in the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.
Bloom Energy Price Performance
Shares of NYSE:BE opened at $238.72 on Thursday. The company’s fifty day moving average price is $280.39 and its 200 day moving average price is $201.51. Bloom Energy Corporation has a 12 month low of $24.04 and a 12 month high of $351.28. The company has a debt-to-equity ratio of 2.90, a current ratio of 5.03 and a quick ratio of 4.10. The firm has a market capitalization of $67.90 billion, a P/E ratio of -4,773.43 and a beta of 3.73.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Bloom Energy to $267.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Sanford C. Bernstein began coverage on Bloom Energy in a research note on Tuesday, June 16th. They issued a “market perform” rating and a $276.00 price target on the stock. Truist Financial initiated coverage on Bloom Energy in a research note on Monday. They issued a “hold” rating and a $250.00 price target on the stock. Citigroup reaffirmed a “neutral” rating on shares of Bloom Energy in a research report on Thursday, May 28th. Finally, UBS Group increased their price objective on Bloom Energy from $322.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $250.41.
View Our Latest Research Report on Bloom Energy
Bloom Energy News Roundup
Here are the key news stories impacting Bloom Energy this week:
- Positive Sentiment: Bloom Energy is being highlighted as a key beneficiary of the AI data center boom, with multiple articles pointing to rising electricity demand, grid constraints, and the need for alternative power solutions. Buy 3 High-Flying Alternative Energy Stocks to Tap AI Data Center Boom
- Positive Sentiment: Clear Street raised its price target on BE to $290 from $250, which can help support investor confidence even though the firm kept a Hold rating. Is Bloom Energy Corporation among the 8 Best Stocks to Buy Following Federal Reserve Pivot Expectations?
- Neutral Sentiment: The stock was also mentioned in a broader “best stocks” screen tied to potential Fed easing, with 91 hedge funds reported as holders, which may keep it on investors’ radar without changing the near-term thesis. Is Bloom Energy Corporation among the 8 Best Stocks to Buy Following Federal Reserve Pivot Expectations?
- Negative Sentiment: A Zacks note said BE fell despite the broader market moving higher, signaling some profit-taking after a strong run. Bloom Energy (BE) Stock Drops Despite Market Gains: Important Facts to Note
- Negative Sentiment: Bloom Energy was also hit by a short-seller report from Hunterbrook attacking its supply-chain claims, adding skepticism and pressure on the shares. Short seller Hunterbrook attacked Bloom Energy’s supply-chain claims. BE stock is bruised, but not broken.
- Negative Sentiment: Valuation concerns remain a headwind, with one recent piece arguing the stock may be trading above fair value after a large multi-year rally, which can make investors cautious. Bloom Energy (BE) Stock Could Be Below Fair Value After A 12x Run
Insiders Place Their Bets
In related news, insider Satish Chitoori sold 2,837 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $289.11, for a total transaction of $820,205.07. Following the transaction, the insider owned 207,417 shares in the company, valued at $59,966,328.87. This trade represents a 1.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Aman Joshi sold 8,343 shares of Bloom Energy stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $300.37, for a total value of $2,505,986.91. Following the transaction, the insider directly owned 163,807 shares in the company, valued at approximately $49,202,708.59. This trade represents a 4.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 153,617 shares of company stock worth $44,003,909. Corporate insiders own 3.00% of the company’s stock.
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.
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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).
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