Bloom Energy Corporation $BE Stock Holdings Trimmed by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC has reduced its stake in Bloom Energy Corporation by 16.4%, leaving it with approximately 248,691 shares valued at about $5.95 million.
• Bloom Energy received mixed analyst ratings, with upgrades from firms like BMO Capital Markets and Zacks Research, resulting in an average price target of $61.70 with several "Hold" and "Buy" ratings.
• The company's stock is currently down 3.2%, with a market capitalization of $26.07 billion and a reported earnings increase year-over-year, topping consensus estimates.

Allspring Global Investments Holdings LLC reduced its position in Bloom Energy Corporation (NYSE:BE - Free Report) by 16.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 248,691 shares of the company's stock after selling 48,760 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.11% of Bloom Energy worth $5,949,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWM LLC increased its holdings in Bloom Energy by 47.3% in the second quarter. CWM LLC now owns 4,949 shares of the company's stock valued at $118,000 after buying an additional 1,589 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in shares of Bloom Energy during the second quarter valued at approximately $245,000. Udine Wealth Management Inc. grew its holdings in shares of Bloom Energy by 22.0% during the second quarter. Udine Wealth Management Inc. now owns 49,283 shares of the company's stock valued at $1,179,000 after purchasing an additional 8,886 shares during the last quarter. Bernard Wealth Management Corp. grew its holdings in shares of Bloom Energy by 150.0% during the second quarter. Bernard Wealth Management Corp. now owns 2,500 shares of the company's stock valued at $60,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Robertson Stephens Wealth Management LLC grew its holdings in shares of Bloom Energy by 7.4% during the second quarter. Robertson Stephens Wealth Management LLC now owns 14,459 shares of the company's stock valued at $346,000 after purchasing an additional 1,000 shares during the last quarter. 77.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BE. BMO Capital Markets upped their target price on Bloom Energy from $33.00 to $97.00 and gave the company a "market perform" rating in a report on Tuesday, October 14th. Zacks Research raised Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, October 3rd. Roth Capital upped their target price on Bloom Energy from $34.00 to $73.00 and gave the company a "neutral" rating in a report on Friday, September 19th. Hsbc Global Res lowered Bloom Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 9th. Finally, Morgan Stanley upped their target price on Bloom Energy from $35.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Bloom Energy has an average rating of "Hold" and an average price target of $61.70.

Bloom Energy Stock Down 3.2%

Shares of Bloom Energy stock opened at $111.43 on Monday. The business's fifty day moving average price is $69.22 and its two-hundred day moving average price is $38.84. The company has a debt-to-equity ratio of 2.18, a current ratio of 4.99 and a quick ratio of 3.21. The company has a market capitalization of $26.07 billion, a P/E ratio of 2,786.45, a PEG ratio of 176.86 and a beta of 3.48. Bloom Energy Corporation has a 1-year low of $9.02 and a 1-year high of $125.75.

Bloom Energy (NYSE:BE - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.08. The firm had revenue of $401.24 million for 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%.The firm's revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.06) EPS. Bloom Energy has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Satish Chitoori sold 400 shares of the company's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $71.16, for a total value of $28,464.00. Following the completion of the sale, the insider directly owned 231,965 shares in the company, valued at $16,506,629.40. This represents a 0.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shawn Marie Soderberg sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, August 28th. The stock was 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 owned 225,949 shares of the company's stock, valued at $11,749,348. This trade represents a 9.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 301,193 shares of company stock valued at $14,893,710 over the last three months. 3.50% of the stock is owned by company insiders.

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.

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