Halter Ferguson Financial Inc. Takes $9.87 Million Position in Bloom Energy Corporation $BE

Key Points

• Halter Ferguson Financial Inc. acquired 412,594 shares of Bloom Energy Corporation, valued at approximately $9.87 million, making it the fund's 5th largest holding.
• Bloom Energy stock saw a 5.1% increase recently, opening at $85.10, while its market capitalization stands at $19.91 billion.
• Bloom Energy reported earnings of $0.10 per share, exceeding analyst estimates, with revenue increasing by 19.5% compared to the previous year.

Halter Ferguson Financial Inc. bought a new stake in shares of Bloom Energy Corporation (NYSE:BE - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 412,594 shares of the company's stock, valued at approximately $9,869,000. Bloom Energy comprises approximately 3.4% of Halter Ferguson Financial Inc.'s holdings, making the stock its 5th largest position. Halter Ferguson Financial Inc. owned about 0.18% of Bloom Energy at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BE. Advisors Asset Management Inc. boosted its position in shares of Bloom Energy by 43.0% in the first quarter. Advisors Asset Management Inc. now owns 86,665 shares of the company's stock worth $1,704,000 after purchasing an additional 26,077 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Bloom Energy by 634.2% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 598,327 shares of the company's stock worth $11,763,000 after purchasing an additional 516,833 shares during the period. Teacher Retirement System of Texas boosted its position 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 purchasing an additional 63,875 shares during the period. Comerica Bank boosted its position in shares of Bloom Energy by 5.8% in the first quarter. Comerica Bank now owns 88,554 shares of the company's stock worth $1,741,000 after purchasing an additional 4,885 shares during the period. Finally, Torray Investment Partners LLC bought a new position in shares of Bloom Energy in the first quarter worth approximately $904,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Bloom Energy news, insider Satish Chitoori sold 20,000 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $45.00, for a total transaction of $900,000.00. Following the transaction, the insider directly owned 234,493 shares in the company, valued at $10,552,185. This represents a 7.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kr Sridhar sold 60,000 shares of the stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $49.70, for a total transaction of $2,982,000.00. Following the transaction, the chief executive officer owned 2,368,951 shares in the company, valued at approximately $117,736,864.70. The trade was a 2.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 302,205 shares of company stock worth $14,919,283 over the last ninety days. 3.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Bloom Energy from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $18.00 to $33.00 in a research report on Wednesday, July 9th. Morgan Stanley upped 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. Susquehanna upped their target price 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. Bank of America upped their target price on shares of Bloom Energy from $21.00 to $24.00 and gave the stock an "underperform" rating in a research report on Tuesday. Finally, Wells Fargo & Company upped their target price on shares of Bloom Energy from $38.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Friday, September 12th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $32.45.

Bloom Energy Trading Down 11.6%

Shares of BE traded down $10.00 during midday trading on Tuesday, hitting $76.27. The stock had a trading volume of 17,341,974 shares, compared to its average volume of 7,957,231. Bloom Energy Corporation has a 1 year low of $9.02 and a 1 year high of $86.89. The firm has a market cap of $17.85 billion, a PE ratio of 1,907.23 and a beta of 3.28. The company has a debt-to-equity ratio of 2.18, a current ratio of 4.99 and a quick ratio of 3.21. The stock's 50 day moving average is $47.18 and its 200 day moving average is $29.88.

Bloom Energy (NYSE:BE - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.02 by $0.08. The company had revenue of $401.24 million for the quarter, compared to the consensus estimate of $382.23 million. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The firm's revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.06) EPS. Bloom Energy has set its FY 2025 guidance at EPS. As a group, analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

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.