Sheaff Brock Investment Advisors LLC Purchases New Stake in Bloom Energy Corporation (NYSE:BE)

Key Points

• Sheaff Brock Investment Advisors LLC purchased 11,350 shares of Bloom Energy Corporation, valued at approximately $223,000, in the 1st quarter.
• JPMorgan Chase & Co. upgraded Bloom Energy from a "neutral" rating to an "overweight" rating, raising the target price from $18.00 to $33.00.
• Insider transactions included CEO Kr Sridhar selling 42,383 shares at an average price of $19.14, resulting in a total value of approximately $811,210.

Sheaff Brock Investment Advisors LLC purchased a new position in shares of Bloom Energy Corporation (NYSE:BE - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,350 shares of the company's stock, valued at approximately $223,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP bought a new position in Bloom Energy during the fourth quarter worth about $35,000. ORG Wealth Partners LLC bought a new position in Bloom Energy during the first quarter worth about $41,000. Gordian Capital Singapore Pte Ltd bought a new position in Bloom Energy during the fourth quarter worth about $49,000. CWM LLC increased its position in 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. Finally, Nisa Investment Advisors LLC grew its stake in 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 buying an additional 1,081 shares in the last quarter. 77.04% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Aman Joshi sold 4,658 shares of Bloom Energy stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total value of $91,855.76. Following the completion of the sale, the insider owned 131,371 shares in the company, valued at $2,590,636.12. The trade was a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Shawn Marie Soderberg sold 1,496 shares of Bloom Energy stock in a transaction on Friday, May 16th. The shares were sold at an average price of $19.89, for a total transaction of $29,755.44. Following the completion of the sale, the insider owned 229,682 shares of the company's stock, valued at $4,568,374.98. This represents a 0.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,513 shares of company stock worth $1,261,765 over the last ninety days. 3.60% of the stock is owned by company insiders.

Bloom Energy Trading Down 0.6%

Bloom Energy stock traded down $0.22 during mid-day trading on Thursday, hitting $37.40. 18,405,493 shares of the stock were exchanged, compared to its average volume of 10,370,874. The company has a quick ratio of 2.39, a current ratio of 3.44 and a debt-to-equity ratio of 2.07. Bloom Energy Corporation has a 12 month low of $9.02 and a 12 month high of $39.09. The firm's fifty day simple moving average is $23.80 and its two-hundred day simple moving average is $22.27.

Bloom Energy (NYSE:BE - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.10. The firm had revenue of $326.02 million during the quarter, compared to analyst estimates of $294.27 million. Bloom Energy had a net margin of 0.29% and a return on equity of 2.51%. The company's revenue was up 38.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.17) EPS. As a group, equities analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BE. Morgan Stanley reduced their price objective on shares of Bloom Energy from $35.00 to $30.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. UBS Group increased their price objective on shares of Bloom Energy from $29.00 to $41.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Piper Sandler reduced their price target on shares of Bloom Energy from $31.00 to $26.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Susquehanna raised their price target on shares of Bloom Energy from $26.00 to $30.00 and gave the company a "positive" rating in a research note on Monday, July 21st. Finally, Jefferies Financial Group reduced their price target on shares of Bloom Energy from $25.00 to $19.00 and set a "hold" rating on the stock in a research note on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $24.97.

About Bloom Energy

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.