Bloom Energy Corporation (NYSE:BE) Shares Purchased by Virtu Financial LLC

Key Points

• Virtu Financial LLC increased its stake in Bloom Energy by 70.5% during the first quarter, owning a total of 60,217 shares valued at approximately $1.18 million.
• Various institutional investors have significantly boosted their holdings in Bloom Energy, with some increasing their stakes by over 600%, totaling 77.04% institutional ownership in the company.
• Analysts have set mixed price targets for Bloom Energy, with ratings ranging from sell to strong buy, while the consensus rating remains at "Moderate Buy" with an average price target of $26.39.

Virtu Financial LLC grew its stake in Bloom Energy Corporation (NYSE:BE - Free Report) by 70.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,217 shares of the company's stock after buying an additional 24,892 shares during the period. Virtu Financial LLC's holdings in Bloom Energy were worth $1,184,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Entropy Technologies LP acquired a new position in shares of Bloom Energy in the 1st quarter valued at $274,000. Mizuho Markets Americas LLC raised its position in Bloom Energy by 11.7% in the 1st quarter. Mizuho Markets Americas LLC now owns 304,510 shares of the company's stock valued at $5,987,000 after purchasing an additional 31,932 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Bloom Energy by 634.2% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 598,327 shares of the company's stock valued at $11,763,000 after purchasing an additional 516,833 shares during the last quarter. Vision Financial Markets LLC purchased a new stake in Bloom Energy in the 1st quarter valued at $39,000. Finally, Blair William & Co. IL raised its position in Bloom Energy by 20.5% in the 1st quarter. Blair William & Co. IL now owns 15,809 shares of the company's stock valued at $311,000 after purchasing an additional 2,693 shares during the last quarter. Institutional investors and hedge funds own 77.04% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Roth Capital upped their price target on shares of Bloom Energy from $20.00 to $25.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company upped their price target on shares of Bloom Energy from $22.00 to $38.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Morgan Stanley upped their price target on shares of Bloom Energy from $35.00 to $44.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Mizuho upped their price target 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. Finally, JPMorgan Chase & Co. upgraded shares of Bloom Energy from a "neutral" rating to an "overweight" rating and upped their price target for the company from $18.00 to $33.00 in a research report on Wednesday, July 9th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $26.39.

Insider Activity at Bloom Energy

In related news, insider Satish Chitoori sold 20,000 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $45.00, for a total value of $900,000.00. Following the sale, the insider directly owned 234,493 shares of the company's stock, valued at approximately $10,552,185. This represents a 7.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Maciej Kurzymski sold 8,733 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $22.79, for a total transaction of $199,025.07. Following the completion of the sale, the insider directly owned 109,860 shares in the company, valued at approximately $2,503,709.40. The trade was a 7.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 85,057 shares of company stock worth $3,512,484. 3.60% of the stock is owned by company insiders.

Bloom Energy Price Performance

Shares of BE traded up $0.21 during trading hours on Friday, reaching $45.32. The company had a trading volume of 12,427,549 shares, compared to its average volume of 12,190,416. The firm has a 50 day simple moving average of $28.57 and a 200-day simple moving average of $23.53. The company has a current ratio of 4.99, a quick ratio of 3.21 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $10.60 billion, a price-to-earnings ratio of 1,133.28 and a beta of 3.28. Bloom Energy Corporation has a 12-month low of $9.02 and a 12-month high of $47.21.

Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly 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 business had revenue of $401.24 million during the quarter, compared to the consensus estimate of $382.23 million. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The business's revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.06) EPS. Research 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.