Baird Financial Group Inc. Sells 15,279 Shares of Bloom Energy Corporation $BE

Key Points

• Baird Financial Group Inc. reduced its stake in Bloom Energy by 3.4%, owning approximately 435,940 shares valued at $8.57 million as of the latest reporting period.
• Bloom Energy has seen significant modifications in institutional holdings, with Harbour Investments Inc. boosting its stake by 2,160% during the same quarter.
• Several analysts have recently increased their price targets for Bloom Energy, with Wells Fargo raising it from $22.00 to $38.00 and Morgan Stanley from $35.00 to $44.00.

Baird Financial Group Inc. cut its position in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 3.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 435,940 shares of the company's stock after selling 15,279 shares during the quarter. Baird Financial Group Inc. owned 0.19% of Bloom Energy worth $8,571,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. CWM LLC lifted 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 acquiring an additional 644 shares during the period. Xponance Inc. grew its holdings in shares of Bloom Energy by 6.4% in the first quarter. Xponance Inc. now owns 15,484 shares of the company's stock worth $304,000 after acquiring an additional 935 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Bloom Energy by 1.7% during the 4th quarter. Mackenzie Financial Corp now owns 63,372 shares of the company's stock valued at $1,407,000 after purchasing an additional 1,035 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Bloom Energy by 47.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,373 shares of the company's stock worth $66,000 after acquiring an additional 1,081 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Bloom Energy by 3.7% in the 1st quarter. Sei Investments Co. now owns 33,424 shares of the company's stock valued at $691,000 after buying an additional 1,184 shares in the last quarter. 77.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wells Fargo & Company upped 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. Susquehanna upped their price target on shares of Bloom Energy from $26.00 to $30.00 and gave the company a "positive" rating in a report on Monday, July 21st. Morgan Stanley increased their price objective on Bloom Energy from $35.00 to $44.00 and gave the company an "overweight" 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 raised their target price for the company from $18.00 to $33.00 in a research note on Wednesday, July 9th. Finally, Robert W. Baird boosted their price target on Bloom Energy from $45.00 to $61.00 and gave the company an "outperform" rating in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.18.

Insider Buying and Selling

In related news, insider Aman Joshi sold 4,870 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $43.36, for a total transaction of $211,163.20. Following the completion of the transaction, the insider owned 224,361 shares in the company, valued at approximately $9,728,292.96. The trade was a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kr Sridhar sold 60,000 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $49.70, for a total transaction of $2,982,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,368,951 shares in the company, valued at approximately $117,736,864.70. This represents a 2.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 308,477 shares of company stock valued at $14,924,815. Insiders own 3.50% of the company's stock.

Bloom Energy Trading Down 5.2%

Bloom Energy stock traded down $2.97 during mid-day trading on Monday, hitting $54.10. The company's stock had a trading volume of 6,457,805 shares, compared to its average volume of 7,520,033. The stock's fifty day moving average is $37.04 and its two-hundred day moving average is $26.22. The company has a current ratio of 4.99, a quick ratio of 3.21 and a debt-to-equity ratio of 2.18. Bloom Energy Corporation has a 1 year low of $9.02 and a 1 year high of $58.75. The firm has a market capitalization of $12.66 billion, a PE ratio of 1,352.84 and a beta of 3.28.

Bloom Energy (NYSE:BE - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 6.80% and a net margin of 1.45%.Bloom Energy's quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.06) earnings per share. Bloom Energy has set its FY 2025 guidance at EPS. On average, analysts anticipate 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.