Nicola Wealth Management LTD. Sells 37,000 Shares of Bloom Energy Corporation $BE

Key Points

• Nicola Wealth Management LTD. has reduced its stake in Bloom Energy Corporation by 33.6%, now holding 73,000 shares worth approximately $1.4 million following the sale of 37,000 shares in the first quarter.
• Various brokerages have raised their target prices for Bloom Energy, with Robert W. Baird leading the way by increasing the target from $45 to $61, indicating strong market confidence in the company.
• Despite recent insider selling, Bloom Energy's stock has shown significant performance with a 12-month high of $68.74 and a 6.8% increase in recent trading.

Nicola Wealth Management LTD. lowered its holdings in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 33.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,000 shares of the company's stock after selling 37,000 shares during the period. Nicola Wealth Management LTD.'s holdings in Bloom Energy were worth $1,435,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Banque Transatlantique SA boosted its stake in Bloom Energy by 227.6% during the first quarter. Banque Transatlantique SA now owns 1,671 shares of the company's stock worth $30,000 after acquiring an additional 1,161 shares in the last quarter. Harbour Investments Inc. boosted its stake in Bloom Energy by 2,160.0% during the first quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock worth $31,000 after acquiring an additional 1,512 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Bloom Energy by 674.7% during the first quarter. NewEdge Advisors LLC now owns 1,867 shares of the company's stock worth $37,000 after acquiring an additional 1,626 shares in the last quarter. Vision Financial Markets LLC bought a new stake in Bloom Energy during the first quarter worth about $39,000. Finally, ORG Wealth Partners LLC bought a new position in shares of Bloom Energy in the first quarter worth approximately $41,000. Institutional investors own 77.04% of the company's stock.

Wall Street Analysts Forecast Growth

BE has been the topic of several analyst reports. UBS Group upped their target price on shares of Bloom Energy from $29.00 to $41.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Morgan Stanley upped their target price on shares of Bloom Energy from $35.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Susquehanna upped their target price on shares of Bloom Energy from $26.00 to $30.00 and gave the stock a "positive" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. upgraded shares of Bloom Energy from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $18.00 to $33.00 in a research note on Wednesday, July 9th. Finally, Robert W. Baird upped their target price on shares of Bloom Energy from $45.00 to $61.00 and gave the stock an "outperform" rating in a research note on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $29.61.

Insider Buying and Selling

In related news, insider Aman Joshi sold 4,870 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $43.36, for a total value of $211,163.20. Following the completion of the sale, the insider directly owned 224,361 shares of the company's stock, valued at approximately $9,728,292.96. This represents a 2.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 transaction, the insider directly owned 225,949 shares in the company, valued at $11,749,348. This represents a 9.96% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 308,477 shares of company stock worth $14,924,815. Corporate insiders own 3.50% of the company's stock.

Bloom Energy Stock Performance

Shares of Bloom Energy stock traded down $0.16 during trading hours on Friday, reaching $67.13. 13,493,602 shares of the stock traded hands, compared to its average volume of 10,692,746. Bloom Energy Corporation has a one year low of $9.02 and a one year high of $68.74. The firm has a market capitalization of $15.71 billion, a price-to-earnings ratio of 1,678.67 and a beta of 3.28. The company has a quick ratio of 3.21, a current ratio of 4.99 and a debt-to-equity ratio of 2.18. The company has a 50 day moving average price of $40.82 and a 200 day moving average price of $27.55.

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

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.