7,100 Shares of Bloom Energy Corporation $BE Bought by China Universal Asset Management Co. Ltd.

Key Points

• China Universal Asset Management acquired 7,100 Bloom Energy shares worth approximately $1.97 million in the third quarter. Institutional investors collectively own 77.04% of the company.
• Bloom Energy insiders sold 89,698 shares valued at $21.78 million over the past 90 days, including sales by Aman Joshi and Shawn Soderberg.
• The company exceeded quarterly expectations, reporting $0.94 in EPS versus a $0.69 estimate and $1.24 billion in revenue, up 138.1% year over year. Analysts’ consensus rating remains Hold, with an average price target of $264.33.

China Universal Asset Management Co. Ltd. bought a new stake in Bloom Energy Corporation (NYSE:BE - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,100 shares of the company's stock, valued at approximately $1,967,000.

Other large investors also recently made changes to their positions in the company. D.A. Davidson & CO. boosted its position in shares of Bloom Energy by 19.8% in the third quarter. D.A. Davidson & CO. now owns 3,392 shares of the company's stock valued at $940,000 after acquiring an additional 561 shares during the period. BOKF NA increased its position in Bloom Energy by 3,181.0% during the third quarter. BOKF NA now owns 12,271 shares of the company's stock worth $3,399,000 after acquiring an additional 11,897 shares during the period. Hanseatic Management Services Inc. raised its stake in Bloom Energy by 2.0% in the 3rd quarter. Hanseatic Management Services Inc. now owns 3,803 shares of the company's stock worth $1,053,000 after purchasing an additional 75 shares in the last quarter. North Dakota State Investment Board raised its stake in Bloom Energy by 5.3% in the 3rd quarter. North Dakota State Investment Board now owns 8,317 shares of the company's stock worth $2,304,000 after purchasing an additional 418 shares in the last quarter. Finally, VestGen Advisors LLC raised its stake in Bloom Energy by 175.1% in the 3rd quarter. VestGen Advisors LLC now owns 13,286 shares of the company's stock worth $3,680,000 after purchasing an additional 8,457 shares in the last quarter. Institutional investors own 77.04% of the company's stock.

Insider Buying and Selling at Bloom Energy

In related news, insider Aman Joshi sold 8,437 shares of the company's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $277.17, for a total transaction 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. This represents a 5.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shawn Soderberg sold 2,870 shares of the business's stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $270.07, for a total value of $775,100.90. Following the sale, the insider owned 126,500 shares of the company's stock, valued at approximately $34,163,855. This represents a 2.22% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 89,698 shares of company stock valued at $21,780,758 over the last ninety days. Insiders own 3.00% of the company's stock.

Key Stories Impacting 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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Evercore reissued an "outperform" rating on shares of Bloom Energy in a report on Monday. Oppenheimer reaffirmed a "market perform" rating on shares of Bloom Energy in a research report on Friday, October 23rd. Morgan Stanley upped their price objective on shares of Bloom Energy from $310.00 to $335.00 and gave the stock an "overweight" rating in a research report on Friday, October 23rd. Roth Capital set a $230.00 price objective on shares of Bloom Energy in a research note on Friday, October 23rd. Finally, Mizuho upped their target price on Bloom Energy from $242.00 to $351.00 and gave the stock an "outperform" rating in a research note on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Bloom Energy currently has an average rating of "Hold" and a consensus target price of $264.33.

Bloom Energy Stock Performance

Bloom Energy stock opened at $202.46 on Friday. The business has a 50 day moving average of $248.16 and a 200-day moving average of $219.80. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.74 and a quick ratio of 3.08. Bloom Energy Corporation has a 1 year low of $75.70 and a 1 year high of $351.28. The company has a market capitalization of $59.86 billion, a P/E ratio of 124.21, a P/E/G ratio of 2.24 and a beta of 3.77.

Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.25. The firm 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%. The company's revenue was up 138.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.15 EPS. On average, equities research analysts predict that Bloom Energy Corporation will post 2.61 earnings per share for the current year.

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.

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