Bloom Energy Corporation $BE Stock Holdings Decreased by Parallel Advisors LLC

Key Points

• Parallel Advisors LLC significantly reduced its stake in Bloom Energy Corporation by 57.1%, holding only 3,269 shares after selling 4,357 shares in the 2nd quarter.
• Numerous analysts have revised their price targets for Bloom Energy, with Mizuho increasing its target from $26.00 to $31.00 and Wells Fargo raising its target from $38.00 to $65.00, indicating a generally positive outlook.
• Insider selling has occurred with notable transactions, including CEO Kr Sridhar selling 37,955 shares for approximately $2.03 million, resulting in a 1.57% decrease in his ownership position.

Parallel Advisors LLC lowered its stake in Bloom Energy Corporation (NYSE:BE - Free Report) by 57.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 3,269 shares of the company's stock after selling 4,357 shares during the period. Parallel Advisors LLC's holdings in Bloom Energy were worth $78,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CWM LLC grew its position in shares of Bloom Energy by 23.7% during the 1st quarter. CWM LLC now owns 3,360 shares of the company's stock valued at $66,000 after buying an additional 644 shares during the last quarter. Xponance Inc. grew its position in shares of Bloom Energy by 6.4% during the 1st quarter. Xponance Inc. now owns 15,484 shares of the company's stock valued at $304,000 after buying an additional 935 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Bloom Energy by 1.7% during the 4th quarter. Mackenzie Financial Corp now owns 63,372 shares of the company's stock valued at $1,407,000 after buying an additional 1,035 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Bloom Energy by 47.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,373 shares of the company's stock valued at $66,000 after buying an additional 1,081 shares during the last quarter. Finally, Banque Transatlantique SA grew its position in shares of Bloom Energy by 227.6% during the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company's stock valued at $30,000 after buying an additional 1,161 shares during the last quarter. 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 stock. Mizuho boosted their price objective on shares of Bloom Energy from $26.00 to $31.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. Wells Fargo & Company boosted their price objective on shares of Bloom Energy from $38.00 to $65.00 and gave the company an "equal weight" rating in a research report on Friday, September 12th. UBS Group boosted their price objective on shares of Bloom Energy from $29.00 to $41.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Roth Capital boosted their price objective on shares of Bloom Energy from $34.00 to $73.00 and gave the company a "neutral" rating in a research report on Friday, September 19th. Finally, Jefferies Financial Group downgraded shares of Bloom Energy from a "hold" rating to an "underperform" rating and boosted their price objective for the company from $24.00 to $31.00 in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Bloom Energy has an average rating of "Moderate Buy" and a consensus target price of $33.08.

Insider Buying and Selling

In other news, insider Shawn Marie Soderberg sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $52.00, for a total value of $1,300,000.00. Following the completion of the sale, the insider directly owned 225,949 shares of the company's stock, valued at approximately $11,749,348. This represents a 9.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kr Sridhar sold 37,955 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 2,378,663 shares of the company's stock, valued at approximately $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. In the last quarter, insiders sold 302,205 shares of company stock worth $14,919,283. Company insiders own 3.60% of the company's stock.

Bloom Energy Trading Down 10.8%

Bloom Energy stock opened at $69.06 on Thursday. 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 firm has a 50-day moving average price of $49.11 and a two-hundred day moving average price of $30.48. The firm has a market capitalization of $16.16 billion, a price-to-earnings ratio of 1,726.93 and a beta of 3.28. Bloom Energy Corporation has a 52-week low of $9.02 and a 52-week high of $86.89.

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

Bloom Energy Company 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.

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