Bloom Energy Corporation $BE Shares Purchased by International Assets Investment Management LLC

Key Points

• International Assets Investment Management increased its Bloom Energy position by 3,892% in the third quarter, adding 155,992 shares for a total of 160,000 shares worth approximately $44.3 million. Institutional investors collectively own 77.04% of the company.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $264.33; targets range from $250 to $316.
• Bloom Energy exceeded quarterly expectations with $0.94 in earnings per share versus a $0.69 estimate and $1.24 billion in revenue, up 138.1% year over year. However, insiders have sold roughly 89,698 shares worth $21.8 million over the past 90 days.

International Assets Investment Management LLC increased its position in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 3,892.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 160,000 shares of the company's stock after buying an additional 155,992 shares during the period. International Assets Investment Management LLC owned 0.05% of Bloom Energy worth $44,317,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. increased its position in Bloom Energy by 49.3% during the second quarter. MJT & Associates Financial Advisory Group Inc. now owns 112 shares of the company's stock worth $34,000 after buying an additional 37 shares during the last quarter. Compound Planning Inc. lifted its position in shares of Bloom Energy by 1.1% in the first quarter. Compound Planning Inc. now owns 3,445 shares of the company's stock valued at $467,000 after buying an additional 38 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Bloom Energy by 13.8% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 355 shares of the company's stock worth $98,000 after acquiring an additional 43 shares during the period. Carolina Wealth Advisors LLC boosted its stake in shares of Bloom Energy by 51.7% during the 2nd quarter. Carolina Wealth Advisors LLC now owns 135 shares of the company's stock worth $41,000 after acquiring an additional 46 shares during the period. Finally, Truefg LLC increased its holdings in shares of Bloom Energy by 2.4% during the 3rd quarter. Truefg LLC now owns 2,048 shares of the company's stock worth $567,000 after acquiring an additional 48 shares during the last quarter. 77.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BE shares. Barclays raised their price target on Bloom Energy from $308.00 to $316.00 and gave the company an "equal weight" rating in a report on Monday. BTIG Research dropped their price objective on shares of Bloom Energy from $295.00 to $250.00 and set a "buy" rating on the stock in a research report on Friday, October 23rd. Weiss Ratings reissued a "hold (c)" rating on shares of Bloom Energy in a research report on Monday, October 19th. BMO Capital Markets restated an "outperform" rating and set a $260.00 target price on shares of Bloom Energy in a research note on Wednesday, October 21st. Finally, Sanford C. Bernstein lifted their target price on shares of Bloom Energy from $282.00 to $306.00 and gave the stock a "market perform" rating in a report on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $264.33.

Bloom Energy Stock Performance

Shares of NYSE BE opened at $202.46 on Friday. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.74 and a quick ratio of 3.08. The stock's fifty day moving average price is $248.16 and its two-hundred day moving average price is $219.80. Bloom Energy Corporation has a one year low of $75.70 and a one year high of $351.28. The firm has a market cap of $59.86 billion, a price-to-earnings ratio of 124.21, a P/E/G ratio of 2.24 and a beta of 3.77.

Bloom Energy (NYSE:BE - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.69 by $0.25. Bloom Energy had a net margin of 13.53% and a return on equity of 45.29%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the company posted $0.15 earnings per share. Bloom Energy's revenue was up 138.1% compared to the same quarter last year. On average, equities analysts forecast that Bloom Energy Corporation will post 2.61 EPS for the current year.

Key Bloom Energy News

Here are the key news stories impacting Bloom Energy this week:

• Positive Sentiment: Bloom Energy’s addition to the S&P 500 in September increases its visibility and can create demand from index-tracking funds. Analysts also see substantial long-term opportunity as data centers and artificial-intelligence infrastructure require reliable power. Bloom Energy Just Joined the S&P 500. Here's What History Says Happens Next.
• Positive Sentiment: A comparison with Plug Power favors BE on earnings growth, profitability and liquidity, supporting the view that Bloom is one of the stronger companies in the fuel-cell sector. Bloom Energy or Plug Power: Which Offers Better Long-Term Upside Now?
• Positive Sentiment: Recent coverage continues to highlight Bloom’s record quarter and explosive growth potential, while a recent analyst upgrade provided additional support for the stock’s investment case. Bloom Energy stock faces cash-flow test after record quarter

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Satish Chitoori sold 2,870 shares of the business's stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $270.06, for a total value of $775,072.20. Following the completion of the sale, the insider owned 202,494 shares of the company's stock, valued at $54,685,529.64. The trade was a 1.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jeffrey Immelt sold 30,000 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $238.91, for a total transaction of $7,167,300.00. Following the transaction, the director owned 201,243 shares in the company, valued at approximately $48,078,965.13. The trade was a 12.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 89,698 shares of company stock worth $21,780,758. Company insiders own 3.00% of the company's stock.

Bloom Energy Profile

Bloom Energy Corporation develops and manufactures energy systems designed to generate electricity on-site. Its primary product is the Bloom Energy Server, a solid oxide fuel cell platform that converts fuel into electricity through an electrochemical process rather than combustion. The systems are used by businesses, utilities, data centers and other organizations seeking reliable, distributed power.

The company also develops electrolyzers based on its solid oxide technology. These systems are designed to produce hydrogen from electricity and water and support applications related to industrial operations, energy storage and the emerging hydrogen economy.

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