Public Investment Fund Grows Stake in Bloom Energy Corporation $BE

Key Points

• The Public Investment Fund has increased its stake in Bloom Energy Corporation by **16.8%**, acquiring a total of **3,803,770 shares** valued at approximately **$74.78 million**.
• Several institutional investors have also increased their holdings, with **77.04%** of Bloom Energy's stock currently owned by institutional investors and hedge funds.
• Bloom Energy recently reported better-than-expected quarterly earnings, posting an **EPS of $0.10** and generating **$401.24 million** in revenue, marking a **19.5% increase** year-over-year.

Public Investment Fund lifted its position in Bloom Energy Corporation (NYSE:BE - Free Report) by 16.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,803,770 shares of the company's stock after purchasing an additional 546,372 shares during the quarter. Public Investment Fund owned approximately 1.64% of Bloom Energy worth $74,782,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Sender Co & Partners Inc. acquired a new stake in shares of Bloom Energy in the 4th quarter valued at about $283,000. Select Equity Group L.P. boosted its position in shares of Bloom Energy by 125.5% in the 4th quarter. Select Equity Group L.P. now owns 278,515 shares of the company's stock valued at $6,186,000 after purchasing an additional 154,993 shares during the period. SIR Capital Management L.P. boosted its position in shares of Bloom Energy by 155.1% in the 4th quarter. SIR Capital Management L.P. now owns 572,798 shares of the company's stock valued at $12,722,000 after purchasing an additional 348,279 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Bloom Energy by 634.2% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 598,327 shares of the company's stock valued at $11,763,000 after purchasing an additional 516,833 shares during the period. Finally, Teacher Retirement System of Texas boosted its position in shares of Bloom Energy by 662.4% in the 1st quarter. Teacher Retirement System of Texas now owns 73,518 shares of the company's stock valued at $1,445,000 after purchasing an additional 63,875 shares during the period. 77.04% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Bloom Energy

In other news, insider Maciej Kurzymski sold 8,733 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $22.79, for a total transaction of $199,025.07. Following the completion of the transaction, the insider directly owned 109,860 shares of the company's stock, valued at approximately $2,503,709.40. This represents a 7.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Satish Chitoori sold 20,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $45.00, for a total value of $900,000.00. Following the transaction, the insider directly owned 234,493 shares of the company's stock, valued at approximately $10,552,185. This trade represents a 7.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 308,477 shares of company stock worth $14,924,815. 3.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BE has been the subject of a number of research analyst reports. Roth Capital upped their target price on Bloom Energy from $20.00 to $25.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Susquehanna increased 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. Mizuho increased their price objective on Bloom Energy from $26.00 to $31.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. UBS Group increased their price objective on Bloom Energy from $29.00 to $41.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, Morgan Stanley increased their price objective 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 company's stock. Based on data from MarketBeat, Bloom Energy has an average rating of "Moderate Buy" and a consensus price target of $28.18.

Bloom Energy Stock Performance

Shares of BE stock traded up $1.39 during trading hours on Thursday, reaching $53.84. 2,907,092 shares of the company's stock were exchanged, compared to its average volume of 7,478,320. The company has a market cap of $12.60 billion, a P/E ratio of 1,346.34 and a beta of 3.28. The company's 50 day moving average is $35.69 and its two-hundred day moving average is $25.80. Bloom Energy Corporation has a 1 year low of $9.02 and a 1 year high of $55.07. 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 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. The business had revenue of $401.24 million during the quarter, compared to the consensus estimate of $382.23 million. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%.The company's revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.06) EPS. Bloom Energy has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

About Bloom Energy

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.