Raymond James Financial Inc. Has $18.63 Million Stock Position in Bloom Energy Corporation $BE

Key Points

• Raymond James Financial Inc. increased its stake in Bloom Energy Corporation by 7.2%, now owning 947,522 shares valued at approximately $18.6 million.
• Consensus among analysts shows a Moderate Buy rating for Bloom Energy, with an average target price of $26.39, despite some price target changes from various firms.
• Bloom Energy reported an earnings per share of $0.10 for the last quarter, exceeding estimates, alongside a revenue increase of 19.5% year-over-year, totaling $401.24 million.

Raymond James Financial Inc. grew its stake in Bloom Energy Corporation (NYSE:BE - Free Report) by 7.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 947,522 shares of the company's stock after acquiring an additional 63,730 shares during the period. Raymond James Financial Inc. owned 0.41% of Bloom Energy worth $18,628,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of BE. Harbour Investments Inc. grew its holdings in shares of Bloom Energy by 2,160.0% in the 1st 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. Quarry LP bought a new position in Bloom Energy during the fourth quarter worth about $35,000. Vision Financial Markets LLC bought a new position in Bloom Energy during the first quarter worth about $39,000. ORG Wealth Partners LLC bought a new position in Bloom Energy during the first quarter worth about $41,000. Finally, Gordian Capital Singapore Pte Ltd bought a new position in Bloom Energy during the fourth quarter worth about $49,000. Institutional investors own 77.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BE shares. Mizuho lifted their price target on Bloom Energy from $26.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Morgan Stanley lifted their price target on Bloom Energy from $35.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. JPMorgan Chase & Co. upgraded Bloom Energy from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $18.00 to $33.00 in a report on Wednesday, July 9th. Susquehanna lifted their price target on Bloom Energy from $26.00 to $30.00 and gave the stock a "positive" rating in a report on Monday, July 21st. Finally, Piper Sandler cut their price objective on shares of Bloom Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $26.39.

Bloom Energy Stock Performance

BE stock traded down $1.80 during mid-day trading on Monday, hitting $53.00. 10,193,037 shares of the company were exchanged, compared to its average volume of 10,662,528. The business has a 50 day simple moving average of $33.89 and a 200-day simple moving average of $25.24. The company has a current ratio of 4.99, a quick ratio of 3.21 and a debt-to-equity ratio of 2.18. The stock has a market capitalization of $12.40 billion, a PE ratio of 1,325.33 and a beta of 3.28. Bloom Energy Corporation has a 1-year low of $9.02 and a 1-year high of $55.07.

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

Insider Buying and Selling at Bloom Energy

In other news, CEO Kr Sridhar sold 37,955 shares of Bloom Energy stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $53.39, for a total value of $2,026,417.45. Following the completion of the sale, the chief executive officer directly owned 2,378,663 shares in the company, valued at approximately $126,996,817.57. The trade was a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 sale, the insider owned 225,949 shares of the company's stock, valued at approximately $11,749,348. The trade was a 9.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 308,477 shares of company stock valued at $14,924,815 in the last three months. Corporate insiders own 3.60% of the company's stock.

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.