Intech Investment Management LLC Buys 31,969 Shares of Bloom Energy Corporation $BE

Key Points

• Intech Investment Management LLC significantly increased its stake in Bloom Energy Corporation by 44.9% during the first quarter, resulting in ownership of 103,094 shares valued at $2.03 million.
• Bloom Energy's stock price experienced a notable increase of 9.3%, opening at $73.28, with a market cap of $17.15 billion.
• The company reported a quarterly earnings per share (EPS) of $0.10, surpassing the consensus estimate of $0.02, with a year-over-year revenue growth of 19.5%.

Intech Investment Management LLC increased its holdings in Bloom Energy Corporation (NYSE:BE - Free Report) by 44.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 103,094 shares of the company's stock after buying an additional 31,969 shares during the quarter. Intech Investment Management LLC's holdings in Bloom Energy were worth $2,027,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of BE. Banque Transatlantique SA lifted its position in shares of Bloom Energy by 227.6% during the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company's stock valued at $30,000 after buying an additional 1,161 shares in the last quarter. Harbour Investments Inc. lifted its stake in Bloom Energy by 2,160.0% during the first quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock worth $31,000 after purchasing an additional 1,512 shares during the last quarter. NewEdge Advisors LLC increased its position in Bloom Energy by 674.7% during the first quarter. NewEdge Advisors LLC now owns 1,867 shares of the company's stock worth $37,000 after buying an additional 1,626 shares during the period. Vision Financial Markets LLC acquired a new position in Bloom Energy during the first quarter worth approximately $39,000. Finally, ORG Wealth Partners LLC acquired a new position in Bloom Energy during the first quarter worth approximately $41,000. Institutional investors and hedge funds own 77.04% of the company's stock.

Bloom Energy Price Performance

Shares of NYSE:BE traded up $4.13 on Friday, hitting $85.10. The company had a trading volume of 16,573,178 shares, compared to its average volume of 11,213,314. 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 52-week low of $9.02 and a 52-week high of $85.40. The business has a 50 day moving average of $45.97 and a 200 day moving average of $29.35. The company has a market cap of $19.91 billion, a PE ratio of 2,128.03 and a beta of 3.28.

Bloom Energy (NYSE:BE - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.02 by $0.08. The firm had revenue of $401.24 million during the quarter, compared to analyst estimates of $382.23 million. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%.The business's quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.06) earnings per share. Bloom Energy has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised Bloom Energy from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $18.00 to $33.00 in a report on Wednesday, July 9th. Wells Fargo & Company upped their price objective on Bloom Energy from $38.00 to $65.00 and gave the stock an "equal weight" rating in a report on Friday, September 12th. Robert W. Baird upped their price objective on Bloom Energy from $45.00 to $61.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Morgan Stanley upped their price objective on Bloom Energy from $35.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, UBS Group upped their price objective on Bloom Energy from $29.00 to $41.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Bloom Energy presently has a consensus rating of "Moderate Buy" and an average price target of $32.13.

Insiders Place Their Bets

In other news, insider Satish Chitoori sold 400 shares of the stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $71.16, for a total value of $28,464.00. Following the completion of the sale, the insider owned 231,965 shares in the company, valued at approximately $16,506,629.40. This trade represents a 0.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Maciej Kurzymski sold 2,474 shares of Bloom Energy stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $70.47, for a total value of $174,342.78. Following the completion of the transaction, the insider owned 106,374 shares of the company's stock, valued at approximately $7,496,175.78. The trade was a 2.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 302,205 shares of company stock valued at $14,919,283. Company insiders own 3.60% of the company's stock.

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.