13,941 Shares in Bloom Energy Corporation (NYSE:BE) Bought by Entropy Technologies LP

Entropy Technologies LP bought a new position in Bloom Energy Corporation (NYSE:BE - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 13,941 shares of the company's stock, valued at approximately $274,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BE. Raymond James Financial Inc. acquired a new position in Bloom Energy in the 4th quarter worth $19,629,000. Summit Investment Advisors Inc. boosted its stake in Bloom Energy by 9.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 21,027 shares of the company's stock worth $467,000 after purchasing an additional 1,818 shares during the period. XTX Topco Ltd acquired a new position in Bloom Energy in the 4th quarter worth $364,000. Marshall Wace LLP boosted its stake in Bloom Energy by 32.7% in the 4th quarter. Marshall Wace LLP now owns 508,240 shares of the company's stock worth $11,288,000 after purchasing an additional 125,184 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in Bloom Energy during the 4th quarter worth about $113,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Maciej Kurzymski sold 8,733 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $22.79, for a total value of $199,025.07. Following the transaction, the insider owned 109,860 shares in the company, valued at approximately $2,503,709.40. This represents a 7.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 10,158 shares of company stock valued at $233,911. 3.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on BE shares. Morgan Stanley boosted their price target on shares of Bloom Energy from $35.00 to $44.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Mizuho boosted their price target on shares of Bloom Energy from $26.00 to $31.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. Wells Fargo & Company boosted their price target on shares of Bloom Energy from $22.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. raised shares of Bloom Energy from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $18.00 to $33.00 in a research report on Wednesday, July 9th. Finally, Susquehanna boosted their price target on shares of Bloom Energy from $26.00 to $30.00 and gave the stock a "positive" rating in a research report on Monday, July 21st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Bloom Energy currently has an average rating of "Moderate Buy" and a consensus price target of $26.39.

Bloom Energy Stock Up 2.4%

Shares of BE opened at $45.14 on Friday. Bloom Energy Corporation has a 52 week low of $9.02 and a 52 week high of $46.50. The firm has a market cap of $10.56 billion, a P/E ratio of 1,128.78 and a beta of 3.28. The firm's 50-day simple moving average is $28.10 and its 200 day simple moving average is $23.36. The company has a debt-to-equity ratio of 2.18, a quick ratio of 3.21 and a current ratio of 4.99.

Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.08. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The business had revenue of $401.24 million for the quarter, compared to analyst estimates of $382.23 million. During the same quarter in the prior year, the business earned ($0.06) EPS. Bloom Energy's quarterly revenue was up 19.5% on a year-over-year basis. On average, analysts forecast that Bloom Energy Corporation will post -0.23 earnings per share 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.

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