Teza Capital Management LLC Purchases 11,757 Shares of Bloom Energy Corporation $BE

Key Points

• Teza Capital Management LLC increased its stake in Bloom Energy Corporation by 121.1% during Q1, owning 21,467 shares valued at approximately $422,000.
• Equities analysts showed strong optimism, with firms like Mizuho and JPMorgan raising their price targets, resulting in a consensus target price of $28.18 and a "Moderate Buy" rating.
• Bloom Energy reported Q2 earnings of $0.10 EPS, surpassing expectations, and achieved a 19.5% year-over-year revenue growth with $401.24 million in revenue.

Teza Capital Management LLC raised its stake in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 121.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,467 shares of the company's stock after buying an additional 11,757 shares during the quarter. Teza Capital Management LLC's holdings in Bloom Energy were worth $422,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of BE. Dimensional Fund Advisors LP acquired a new position in shares of Bloom Energy in the 4th quarter valued at approximately $2,540,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Bloom Energy in the 4th quarter valued at approximately $260,000. Algert Global LLC acquired a new position in shares of Bloom Energy in the 4th quarter valued at approximately $1,025,000. Cetera Investment Advisers grew its position in shares of Bloom Energy by 19.9% in the 4th quarter. Cetera Investment Advisers now owns 23,842 shares of the company's stock valued at $530,000 after purchasing an additional 3,956 shares during the period. Finally, Focus Partners Wealth grew its position in shares of Bloom Energy by 49.5% in the 4th quarter. Focus Partners Wealth now owns 15,347 shares of the company's stock valued at $341,000 after purchasing an additional 5,082 shares during the period. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Stock Performance

BE traded down $0.16 during trading hours on Friday, reaching $67.13. The company's stock had a trading volume of 13,493,602 shares, compared to its average volume of 10,639,364. The company's 50-day moving average is $40.82 and its 200-day moving average is $27.49. Bloom Energy Corporation has a 52 week low of $9.02 and a 52 week high of $68.74. The firm has a market cap of $15.71 billion, a PE ratio of 1,678.67 and a beta of 3.28. The company has a debt-to-equity ratio of 2.18, a quick ratio of 3.21 and a current ratio of 4.99.

Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $382.23 million. During the same quarter last year, the firm posted ($0.06) EPS. The company's quarterly revenue was up 19.5% on a year-over-year basis. Bloom Energy has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. UBS Group boosted their price objective on Bloom Energy from $29.00 to $41.00 and gave the company a "buy" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. raised Bloom Energy from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $18.00 to $33.00 in a research report on Wednesday, July 9th. Wells Fargo & Company upped their price target on Bloom Energy from $38.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Friday. Roth Capital upped their price target on Bloom Energy from $20.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Morgan Stanley upped their price target on Bloom Energy from $35.00 to $44.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $29.61.

Insiders Place Their Bets

In other Bloom Energy news, insider Aman Joshi sold 4,870 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $43.36, for a total transaction of $211,163.20. Following the completion of the sale, the insider owned 224,361 shares of the company's stock, valued at $9,728,292.96. This trade represents a 2.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Satish Chitoori sold 2,128 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $43.44, for a total value of $92,440.32. Following the sale, the insider directly owned 232,365 shares of the company's stock, valued at $10,093,935.60. This represents a 0.91% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 308,477 shares of company stock worth $14,924,815. 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.