Bloom Energy Corporation $BE Stock: Bokf Na Grows Holdings

Key Points

• Institutional ownership increased: Bokf Na raised its Bloom Energy stake by 3,181% to 12,271 shares, while other funds also added positions. Hedge funds and institutional investors now own 77.04% of the company.
• Analyst sentiment remains mixed: Robert W. Baird raised its price target to $351 and RBC maintained an outperform rating, but Zacks downgraded the stock to hold. The consensus rating is “Hold,” with an average price target of $264.33.
• Strong earnings came amid elevated risk: Bloom reported quarterly EPS of $0.94 and revenue of $1.24 billion, up 138.1% year over year, but shares opened at $202.46 after an 8.9% decline. Insiders also sold $21.8 million of stock over the past 90 days, primarily including sales tied to tax withholding.

Bokf Na lifted its stake in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 3,181.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,271 shares of the company's stock after purchasing an additional 11,897 shares during the period. Bokf Na's holdings in Bloom Energy were worth $3,399,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Hanseatic Management Services Inc. lifted its stake in Bloom Energy by 2.0% during the 3rd quarter. Hanseatic Management Services Inc. now owns 3,803 shares of the company's stock worth $1,053,000 after acquiring an additional 75 shares in the last quarter. North Dakota State Investment Board lifted its position in Bloom Energy by 5.3% in the third quarter. North Dakota State Investment Board now owns 8,317 shares of the company's stock valued at $2,304,000 after acquiring an additional 418 shares during the last quarter. VestGen Advisors LLC grew its stake in Bloom Energy by 175.1% during the 3rd quarter. VestGen Advisors LLC now owns 13,286 shares of the company's stock worth $3,680,000 after buying an additional 8,457 shares during the last quarter. Laurel Wealth Advisors LLC purchased a new stake in Bloom Energy in the 3rd quarter valued at $352,000. Finally, Parametrica Management Ltd acquired a new stake in shares of Bloom Energy during the third quarter worth about $1,523,000. Hedge funds and other institutional investors own 77.04% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Zacks Research cut Bloom Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, October 2nd. Robert W. Baird boosted their target price on Bloom Energy from $310.00 to $351.00 and gave the stock an "outperform" rating in a research report on Thursday, October 15th. Royal Bank Of Canada reiterated an "outperform" rating and set a $335.00 target price on shares of Bloom Energy in a research report on Friday, October 23rd. Citigroup upped their target price on Bloom Energy from $281.00 to $284.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Oppenheimer restated a "market perform" rating on shares of Bloom Energy in a research report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Bloom Energy presently has an average rating of "Hold" and a consensus price target of $264.33.

Key Headlines Impacting Bloom Energy

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 related news, insider Shawn Soderberg sold 2,870 shares of Bloom Energy stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $270.07, for a total value of $775,100.90. Following the sale, the insider directly owned 126,500 shares in the company, valued at $34,163,855. This trade represents a 2.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Aman Joshi sold 8,437 shares of the company's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $277.17, for a total transaction of $2,338,483.29. Following the completion of the transaction, the insider owned 147,092 shares of the company's stock, valued at approximately $40,769,489.64. This trade represents a 5.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 89,698 shares of company stock worth $21,780,758 over the last 90 days. Corporate insiders own 3.00% of the company's stock.

Bloom Energy Stock Down 8.9%

Shares of Bloom Energy stock opened at $202.46 on Friday. The business has a 50-day moving average of $248.16 and a 200-day moving average of $219.80. 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 company has a market capitalization of $59.86 billion, a PE ratio of 116.39, a P/E/G ratio of 2.24 and a beta of 3.77. Bloom Energy Corporation has a 1-year low of $75.70 and a 1-year high of $351.28.

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, topping the consensus estimate of $0.69 by $0.25. Bloom Energy had a return on equity of 45.29% and a net margin of 13.53%. The business had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter in the previous year, the firm posted $0.15 earnings per share. The company's revenue was up 138.1% compared to the same quarter last year. As a group, equities analysts forecast that Bloom Energy Corporation will post 2.61 EPS for the current fiscal year.

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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