Russell Investments Group Ltd. Has $1.16 Million Stock Position in Bloom Energy Corporation $BE

Key Points

• Russell Investments Group Ltd. increased its stake in Bloom Energy by 128.6% in Q1, owning 58,840 shares valued at approximately $1.16 million.
• Bloom Energy reported a quarterly earnings per share (EPS) of $0.10, surpassing estimates, with revenue increasing 19.5% year-over-year to $401.24 million.
• Wall Street analysts have raised their price targets for Bloom Energy, with the average target currently at $26.39 and a consensus rating of "Moderate Buy."

Russell Investments Group Ltd. boosted its holdings in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 128.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,840 shares of the company's stock after buying an additional 33,097 shares during the period. Russell Investments Group Ltd.'s holdings in Bloom Energy were worth $1,157,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Quarry LP acquired a new position in Bloom Energy during the fourth quarter valued at $35,000. Harbour Investments Inc. grew its stake in Bloom Energy by 2,160.0% in the first quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock valued at $31,000 after purchasing an additional 1,512 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in shares of Bloom Energy during the 1st quarter worth about $41,000. Vision Financial Markets LLC bought a new stake in shares of Bloom Energy during the 1st quarter worth about $39,000. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in shares of Bloom Energy during the 4th quarter worth about $49,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Shawn Marie Soderberg sold 45,000 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $43.31, for a total transaction of $1,948,950.00. Following the completion of the sale, the insider directly owned 229,682 shares of the company's stock, valued at $9,947,527.42. This trade represents a 16.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kr Sridhar sold 60,000 shares of the firm's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $49.70, for a total value of $2,982,000.00. Following the sale, the chief executive officer directly owned 2,368,951 shares of the company's stock, valued at $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. Insiders sold a total of 308,477 shares of company stock worth $14,924,815 in the last 90 days. 3.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on BE. Morgan Stanley increased their target price on Bloom Energy from $35.00 to $44.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Wells Fargo & Company increased their target price on Bloom Energy from $22.00 to $38.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Mizuho increased their target price on Bloom Energy from $26.00 to $31.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Roth Capital increased their target price on Bloom Energy from $20.00 to $25.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Susquehanna raised their price objective on Bloom Energy from $26.00 to $30.00 and gave the stock a "positive" rating in a research report on Monday, July 21st. Two equities research 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 issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $26.39.

Bloom Energy Stock Performance

Shares of BE stock traded down $1.80 during mid-day trading on Friday, reaching $53.00. The stock had a trading volume of 10,193,037 shares, compared to its average volume of 10,662,528. The firm's 50 day simple moving average is $33.89 and its 200 day simple moving average is $25.24. The company has a quick ratio of 3.21, a current ratio of 4.99 and a debt-to-equity ratio of 2.18. Bloom Energy Corporation has a one year low of $9.02 and a one year high of $55.07. The firm has a market cap of $12.40 billion, a PE ratio of 481.27 and a beta of 3.28.

Bloom Energy (NYSE:BE - Get Free Report) last issued its 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. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%.The business had revenue of $401.24 million during the quarter, compared to analysts' expectations of $382.23 million. During the same period in the prior year, the firm posted ($0.06) EPS. Bloom Energy's quarterly revenue was up 19.5% compared to the same quarter last year. Bloom Energy has set its FY 2025 guidance at EPS. On average, 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.