Banque Cantonale Vaudoise Takes $296,000 Position in Bloom Energy Corporation (NYSE:BE)

Key Points

• Banque Cantonale Vaudoise has acquired a new position in Bloom Energy Corporation, purchasing 15,045 shares valued at approximately $296,000 during the first quarter.
• Insider trading activity includes Aman Joshi and Satish Chitoori selling shares, with a total of 63,513 shares sold worth around $1.26 million in the last ninety days.
• Bloom Energy's stock has received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and an average price target of $26.39, following recent upgrades and downgrades.

Banque Cantonale Vaudoise bought a new position in shares of Bloom Energy Corporation (NYSE:BE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 15,045 shares of the company's stock, valued at approximately $296,000.

Several other hedge funds have also recently bought and sold shares of the company. Sheaff Brock Investment Advisors LLC acquired a new position in Bloom Energy during the 1st quarter worth about $223,000. Caliber Wealth Management LLC KS acquired a new position in Bloom Energy during the 1st quarter worth about $216,000. Navellier & Associates Inc. acquired a new position in Bloom Energy during the 1st quarter worth about $981,000. Cetera Investment Advisers lifted its stake in Bloom Energy by 29.9% during the 1st quarter. Cetera Investment Advisers now owns 30,977 shares of the company's stock worth $609,000 after acquiring an additional 7,135 shares in the last quarter. Finally, Convergence Investment Partners LLC acquired a new position in Bloom Energy during the 1st quarter worth about $698,000. Institutional investors and hedge funds own 77.04% of the company's stock.

Insider Activity

In related news, insider Aman Joshi sold 4,658 shares of the firm's 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 $91,855.76. Following the transaction, the insider owned 131,371 shares in the company, valued at $2,590,636.12. This trade represents a 3.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Satish Chitoori sold 2,038 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $19.73, for a total value of $40,209.74. Following the transaction, the insider owned 176,618 shares in the company, valued at $3,484,673.14. This represents a 1.14% 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 worth $1,261,765 over the last ninety days. 3.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BE has been the topic of several research reports. JPMorgan Chase & Co. raised Bloom Energy from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $18.00 to $33.00 in a research note on Wednesday, July 9th. Robert W. Baird reduced their price target on Bloom Energy from $32.00 to $27.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Mizuho increased their price target on Bloom Energy from $26.00 to $31.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. Roth Capital increased their price target on Bloom Energy from $20.00 to $25.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Redburn Atlantic lowered Bloom Energy from a "neutral" rating to a "sell" rating and reduced their price target for the company from $14.50 to $10.00 in a research report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $26.39.

Bloom Energy Trading Down 1.5%

BE opened at $36.84 on Friday. The business's 50-day simple moving average is $24.52 and its 200-day simple moving average is $22.47. The company has a market cap of $8.56 billion, a P/E ratio of 921.23 and a beta of 3.28. The company has a debt-to-equity ratio of 2.07, a quick ratio of 2.39 and a current ratio of 3.44. Bloom Energy Corporation has a one year low of $9.02 and a one year high of $39.09.

Bloom Energy (NYSE:BE - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.08. The firm 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 7.03% and a net margin of 1.45%. The firm's quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) EPS. As a group, equities research analysts expect that Bloom Energy Corporation will post -0.23 EPS for the current fiscal 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.

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