Jump Financial LLC Sells 154,054 Shares of Bloom Energy Corporation $BE

Key Points

• Jump Financial LLC sold 154,054 shares of Bloom Energy, reducing its holdings by 52.4% to approximately 139,932 shares, valued at $2.75 million as of the last reporting period.
• Several institutional investors increased their positions in Bloom Energy, with Fuller & Thaler Asset Management Inc. raising its stake by 29.5% during the first quarter, now owning over 3.6 million shares.
• Bloom Energy's stock showed resilience with a 1.4% increase and opened at $50.02, amid positive earnings reports and several analyst upgrades raising price targets significantly.

Jump Financial LLC lessened its stake in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 52.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 139,932 shares of the company's stock after selling 154,054 shares during the period. Jump Financial LLC owned about 0.06% of Bloom Energy worth $2,751,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. AlphaQuest LLC increased its position in shares of Bloom Energy by 127.5% in the first quarter. AlphaQuest LLC now owns 5,358 shares of the company's stock worth $105,000 after acquiring an additional 3,003 shares in the last quarter. Portland Investment Counsel Inc. purchased a new stake in shares of Bloom Energy in the 1st quarter valued at approximately $295,000. Tree Line Advisors Hong Kong Ltd. acquired a new position in Bloom Energy in the 1st quarter worth approximately $22,609,000. Candriam S.C.A. acquired a new position in Bloom Energy in the 1st quarter worth approximately $6,477,000. Finally, Erste Asset Management GmbH grew its position in Bloom Energy by 1.8% during the 1st quarter. Erste Asset Management GmbH now owns 640,195 shares of the company's stock worth $13,015,000 after purchasing an additional 11,323 shares in the last quarter. 77.04% of the stock is owned by institutional investors.

Bloom Energy Price Performance

NYSE BE traded down $1.80 during trading on Friday, reaching $53.00. 10,193,037 shares of the company traded hands, compared to its average volume of 11,027,775. Bloom Energy Corporation has a 1-year low of $9.02 and a 1-year high of $55.07. The company has a market cap of $12.40 billion, a price-to-earnings ratio of 1,325.33 and a beta of 3.28. The stock's 50 day moving average price is $33.89 and its two-hundred day moving average price is $25.24. 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 posted its earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, topping the consensus estimate 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%.Bloom Energy's revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.06) EPS. Bloom Energy has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current year.

Analyst Ratings Changes

BE has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised Bloom Energy from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $18.00 to $33.00 in a research report on Wednesday, July 9th. Morgan Stanley upped their price target on Bloom Energy from $35.00 to $44.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Susquehanna increased their price objective on Bloom Energy from $26.00 to $30.00 and gave the stock a "positive" rating in a research note on Monday, July 21st. UBS Group lifted their target price on Bloom Energy from $29.00 to $41.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Wells Fargo & Company upped their target price on Bloom Energy from $22.00 to $38.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have issued a Hold rating and two have issued 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 price target of $26.39.

Insider Activity

In related news, insider Satish Chitoori sold 2,128 shares of Bloom Energy stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $43.44, for a total transaction of $92,440.32. Following the completion of the transaction, the insider directly owned 232,365 shares of the company's stock, valued at $10,093,935.60. This trade represents a 0.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kr Sridhar sold 37,955 shares of the company's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $53.39, for a total transaction of $2,026,417.45. Following the sale, the chief executive officer directly owned 2,378,663 shares in the company, valued at $126,996,817.57. This represents a 1.57% 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 worth $14,924,815 over the last 90 days. 3.60% of the stock is currently owned by company insiders.

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.