Allianz Asset Management GmbH Decreases Holdings in Bloom Energy Corporation (NYSE:BE)

Key Points

• Allianz Asset Management GmbH has reduced its holdings in Bloom Energy Corporation by 18.1%, owning 163,793 shares worth approximately $3.22 million after selling 36,207 shares in the first quarter.
• Bloom Energy reported a net margin of 0.29% with revenue increasing by 38.5% year-over-year, surpassing analysts' expectations during its last earnings report.
• Analysts have given Bloom Energy a consensus rating of "Moderate Buy" with an average price target of $24.97, highlighting a range of opinions from "sell" to "strong buy" across various reports.

Allianz Asset Management GmbH cut its stake in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 18.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 163,793 shares of the company's stock after selling 36,207 shares during the period. Allianz Asset Management GmbH owned 0.07% of Bloom Energy worth $3,220,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. CWM LLC grew its position in shares of Bloom Energy by 23.7% during the 1st quarter. CWM LLC now owns 3,360 shares of the company's stock valued at $66,000 after buying an additional 644 shares during the last quarter. Xponance Inc. boosted its holdings in Bloom Energy by 6.4% during the first quarter. Xponance Inc. now owns 15,484 shares of the company's stock worth $304,000 after buying an additional 935 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Bloom Energy by 1.7% during the fourth quarter. Mackenzie Financial Corp now owns 63,372 shares of the company's stock worth $1,407,000 after buying an additional 1,035 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Bloom Energy by 47.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,373 shares of the company's stock valued at $66,000 after acquiring an additional 1,081 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC lifted its position in shares of Bloom Energy by 12.3% in the 1st quarter. SeaBridge Investment Advisors LLC now owns 12,684 shares of the company's stock valued at $249,000 after acquiring an additional 1,390 shares in the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Hsbc Global Res upgraded Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. HSBC upgraded shares of Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 price target on the stock in a research report on Tuesday, April 8th. Susquehanna boosted their target price on shares of Bloom Energy from $26.00 to $30.00 and gave the stock a "positive" rating in a research note on Monday, July 21st. 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 note on Wednesday, July 9th. Finally, Roth Mkm decreased their price objective on Bloom Energy from $26.00 to $20.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $24.97.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 2,780 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $19.72, for a total transaction of $54,821.60. Following the completion of the transaction, the insider owned 152,890 shares of the company's stock, valued at $3,014,990.80. This represents a 1.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Aman Joshi sold 4,658 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total transaction of $91,855.76. Following the completion of the sale, the insider directly owned 131,371 shares of the company's stock, valued at approximately $2,590,636.12. This trade represents a 3.42% 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 valued at $1,261,765 in the last ninety days. 3.60% of the stock is currently owned by company insiders.

Bloom Energy Price Performance

NYSE:BE traded down $0.22 during midday trading on Thursday, reaching $37.40. 18,405,493 shares of the stock traded hands, compared to its average volume of 10,370,874. The business has a 50-day moving average of $23.80 and a two-hundred day moving average of $22.27. Bloom Energy Corporation has a 12-month low of $9.02 and a 12-month high of $39.09. The company has a current ratio of 3.44, a quick ratio of 2.39 and a debt-to-equity ratio of 2.07.

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