Bloom Energy Corporation $BE Shares Purchased by Advisors Asset Management Inc.

Key Points

• Advisors Asset Management Inc. increased its stake in Bloom Energy Corporation by 43.0%, owning a total of 86,665 shares valued at approximately $1.7 million at the end of the last quarter.
• Bloom Energy's stock opened at $57.13, showing a remarkable 12-month high of $57.33 and a net revenue increase of 19.5% year-over-year for the last quarter.
• Analysts have given Bloom Energy an average target price of $28.18, with ratings ranging from Strong Buy to Sell, indicating a generally positive outlook for the company.

Advisors Asset Management Inc. increased its position in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 43.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,665 shares of the company's stock after purchasing an additional 26,077 shares during the period. Advisors Asset Management Inc.'s holdings in Bloom Energy were worth $1,704,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of BE. Harbour Investments Inc. boosted 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 acquiring an additional 1,512 shares in the last quarter. Vision Financial Markets LLC purchased a new position in Bloom Energy during the first quarter worth about $39,000. ORG Wealth Partners LLC purchased a new position in Bloom Energy during the first quarter worth about $41,000. Gordian Capital Singapore Pte Ltd purchased a new position in Bloom Energy in the fourth quarter valued at about $49,000. Finally, Nisa Investment Advisors LLC grew its position in shares of Bloom Energy by 47.2% in the first quarter. Nisa Investment Advisors LLC now owns 3,373 shares of the company's stock valued at $66,000 after purchasing an additional 1,081 shares during the last quarter. Institutional investors and hedge funds own 77.04% of the company's stock.

Bloom Energy Stock Up 4.0%

BE stock opened at $57.13 on Monday. Bloom Energy Corporation has a 12 month low of $9.02 and a 12 month high of $57.33. The firm has a market cap of $13.37 billion, a PE ratio of 1,428.61 and a beta of 3.28. The firm has a 50 day simple moving average of $37.04 and a 200 day simple moving average of $26.22. The company has a debt-to-equity ratio of 2.18, a current ratio of 4.99 and a quick ratio of 3.21.

Bloom Energy (NYSE:BE - Get Free Report) last issued its quarterly 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. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The business had revenue of $401.24 million during the quarter, compared to the consensus estimate of $382.23 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. The firm's quarterly revenue was up 19.5% on a year-over-year basis. Bloom Energy has set its FY 2025 guidance at EPS. Equities research analysts forecast that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Satish Chitoori sold 2,128 shares of Bloom Energy stock in a transaction that occurred 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 transaction, the insider owned 232,365 shares of the company's stock, valued at approximately $10,093,935.60. The trade was a 0.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Shawn Marie Soderberg sold 25,000 shares of Bloom Energy stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $52.00, for a total transaction of $1,300,000.00. Following the completion of the transaction, the insider directly owned 225,949 shares in the company, valued at approximately $11,749,348. The trade was a 9.96% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 308,477 shares of company stock valued at $14,924,815. Company insiders own 3.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BE. Morgan Stanley raised their target price on shares of Bloom Energy from $35.00 to $44.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Robert W. Baird raised their target price on shares of Bloom Energy from $45.00 to $61.00 and gave the company an "outperform" rating in a research note on Thursday. Roth Capital lifted their price target on shares of Bloom Energy from $20.00 to $25.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Mizuho boosted their price objective on shares of Bloom Energy from $26.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Finally, JPMorgan Chase & Co. upgraded shares of Bloom Energy from a "neutral" rating to an "overweight" rating and upped their target price for the company from $18.00 to $33.00 in a research note on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Bloom Energy currently has an average rating of "Moderate Buy" and an average target price of $28.18.

Bloom Energy 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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