Bank of Nova Scotia Reduces Stock Holdings in Bloom Energy Corporation $BE

Key Points

• Bank of Nova Scotia cut its Bloom Energy stake by 86.2% during the first quarter, selling 99,896 shares and retaining 16,035 shares worth approximately $2.17 million.
• Institutional activity was mixed: Goldman Sachs increased its position by 50.3%, while Bayforest Capital and AQR Capital Management opened new stakes. Hedge funds and other institutional investors collectively own 77.04% of Bloom Energy.
• Bloom Energy reported strong quarterly results, with revenue up 165.5% year over year to $1.07 billion and adjusted earnings of $0.78 per share. Despite raised 2026 guidance and AI-related power demand, analysts’ consensus rating remains “Hold”, with a $254 average price target.

Bank of Nova Scotia trimmed its position in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 86.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,035 shares of the company's stock after selling 99,896 shares during the period. Bank of Nova Scotia's holdings in Bloom Energy were worth $2,173,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Bayforest Capital Ltd bought a new position in shares of Bloom Energy during the 1st quarter worth $2,055,000. AQR Capital Management LLC bought a new position in Bloom Energy during the first quarter worth about $1,820,000. NewEdge Advisors LLC increased its stake in shares of Bloom Energy by 674.7% in the first quarter. NewEdge Advisors LLC now owns 1,867 shares of the company's stock worth $37,000 after purchasing an additional 1,626 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Bloom Energy by 50.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company's stock valued at $49,127,000 after purchasing an additional 836,810 shares during the period. Finally, Focus Partners Wealth lifted its stake in shares of Bloom Energy by 30.7% during the 1st quarter. Focus Partners Wealth now owns 20,063 shares of the company's stock valued at $394,000 after buying an additional 4,716 shares in the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

Bloom Energy News Summary

Here are the key news stories impacting Bloom Energy this week:

• Positive Sentiment: Record quarterly results: Bloom Energy reported Q2 revenue of $1.065 billion, up 165.5% year over year and well above the roughly $826 million consensus estimate. Product revenue increased 215.4% to $935.4 million, while gross margin expanded to 33.4% from 26.7%. Adjusted earnings of $0.78 per share surpassed estimates near $0.39-$0.41 and compared with $0.10 a year earlier. Bloom Energy Reports Record Second Quarter 2026 Financial Results and Raises Full Year 2026 Guidance
• Positive Sentiment: Guidance raised above Wall Street expectations: Management now forecasts 2026 revenue of $3.9 billion to $4.2 billion, with a $4.05 billion midpoint about 8% above analyst estimates. Adjusted EPS guidance of $2.55 to $2.85 also exceeds the consensus estimate of $1.99, signaling confidence in demand and operating leverage. Bloom Energy Raises Outlook as Profit, Sales Climb
• Positive Sentiment: AI power demand remains a key catalyst: Investors continue to view Bloom’s onsite fuel-cell systems as a potential solution for power-constrained AI data centers. Attention will remain on the company’s expanded infrastructure partnership with Brookfield Asset Management and whether it can convert that opportunity into recurring orders. Bloom Energy Jumps On Blowout Earnings, Strong Guidance For AI Infrastructure Play
• Neutral Sentiment: The results follow significant pre-earnings volatility. Traders had been taking profits after Bloom’s large year-to-date rally, while broader weakness in AI-related stocks and uncertainty surrounding a recent short-seller report pressured sentiment before the release.
• Negative Sentiment: Despite the operating improvement, Bloom remains a richly valued, high-beta stock with substantial debt relative to equity. Investors may demand continued rapid growth and successful execution to justify the valuation, leaving shares vulnerable to profit-taking if future orders, margins or guidance fail to keep pace.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Truist Financial assumed coverage on shares of Bloom Energy in a report on Monday, July 13th. They set a "hold" rating and a $250.00 target price on the stock. Sanford C. Bernstein initiated coverage on Bloom Energy in a report on Tuesday, June 16th. They issued a "market perform" rating and a $276.00 price target for the company. Evercore reiterated an "outperform" rating and issued a $350.00 price target on shares of Bloom Energy in a research report on Wednesday, July 1st. BTIG Research boosted their price objective on Bloom Energy to $295.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Bloom Energy in a report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $254.00.

Insider Activity at Bloom Energy

In related news, CAO Maciej Kurzymski sold 2,259 shares of the business's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $288.62, for a total transaction of $651,992.58. Following the completion of the transaction, the chief accounting officer directly owned 79,686 shares in the company, valued at $22,998,973.32. The trade was a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Aman Joshi sold 8,343 shares of the business's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $300.37, for a total value of $2,505,986.91. Following the transaction, the insider directly owned 163,807 shares of the company's stock, valued at $49,202,708.59. The trade was a 4.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 118,617 shares of company stock valued at $34,238,909 in the last ninety days. 3.00% of the stock is currently owned by corporate insiders.

Bloom Energy Stock Performance

Bloom Energy stock opened at $167.73 on Wednesday. Bloom Energy Corporation has a 1-year low of $32.52 and a 1-year high of $351.28. The company has a current ratio of 5.03, a quick ratio of 4.10 and a debt-to-equity ratio of 2.90. The firm has a market capitalization of $47.71 billion, a PE ratio of -3,353.85 and a beta of 3.73. The firm's 50 day simple moving average is $267.30 and its 200 day simple moving average is $208.35.

Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.39 by $0.39. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $826.13 million. Bloom Energy had a net margin of 0.25% and a return on equity of 21.05%. The business's quarterly revenue was up 165.5% compared to the same quarter last year. During the same period last year, the firm earned $0.10 EPS. Bloom Energy has set its FY 2026 guidance at 2.550-2.850 EPS. As a group, analysts expect that Bloom Energy Corporation will post 1.43 earnings per share for the current fiscal year.

Bloom Energy Profile

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.