Teacher Retirement System of Texas Acquires 63,875 Shares of Bloom Energy Corporation (NYSE:BE)

Teacher Retirement System of Texas raised its holdings in Bloom Energy Corporation (NYSE:BE - Free Report) by 662.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 73,518 shares of the company's stock after purchasing an additional 63,875 shares during the quarter. Teacher Retirement System of Texas' holdings in Bloom Energy were worth $1,445,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Jones Financial Companies Lllp raised its position in shares of Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock worth $33,000 after acquiring an additional 812 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Bloom Energy by 1.7% during the fourth quarter. Mackenzie Financial Corp now owns 63,372 shares of the company's stock worth $1,407,000 after purchasing an additional 1,035 shares during the period. Quarry LP acquired a new stake in shares of Bloom Energy during the fourth quarter worth $35,000. Xponance Inc. grew its stake in shares of Bloom Energy by 12.4% during the fourth quarter. Xponance Inc. now owns 14,549 shares of the company's stock worth $323,000 after purchasing an additional 1,607 shares during the period. Finally, Summit Investment Advisors Inc. grew its stake in shares of Bloom Energy by 9.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 21,027 shares of the company's stock worth $467,000 after purchasing an additional 1,818 shares during the period. Institutional investors own 77.04% of the company's stock.

Insider Activity

In related news, insider Aman Joshi sold 4,658 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $19.72, for a total transaction of $91,855.76. Following the completion of the transaction, the insider directly owned 131,371 shares of the company's stock, valued at approximately $2,590,636.12. This represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kr Sridhar sold 42,383 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $19.14, for a total value of $811,210.62. Following the transaction, the chief executive officer directly owned 2,724,613 shares of the company's stock, valued at $52,149,092.82. This trade represents a 1.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,501 shares of company stock valued at $1,236,191. Corporate insiders own 3.50% of the company's stock.

Bloom Energy Stock Up 2.9%

Shares of BE stock traded up $0.73 on Monday, hitting $26.13. 1,260,768 shares of the stock were exchanged, compared to its average volume of 6,436,679. The company has a current ratio of 3.44, a quick ratio of 2.39 and a debt-to-equity ratio of 2.07. The firm has a market capitalization of $6.07 billion, a P/E ratio of -522.50 and a beta of 3.22. The business has a 50-day moving average of $21.01 and a 200 day moving average of $21.76. Bloom Energy Corporation has a fifty-two week low of $9.02 and a fifty-two week high of $29.83.

Bloom Energy (NYSE:BE - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.10. The company had revenue of $326.02 million during the quarter, compared to analysts' expectations of $294.27 million. Bloom Energy had a return on equity of 2.51% and a net margin of 0.29%. Bloom Energy's revenue for the quarter was up 38.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.17) earnings per share. Equities analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Roth Mkm decreased their price objective on Bloom Energy from $26.00 to $20.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Piper Sandler decreased their price objective on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. UBS Group reaffirmed a "buy" rating on shares of Bloom Energy in a research note on Wednesday, July 2nd. HSBC raised Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 price objective for the company in a research note on Tuesday, April 8th. Finally, Royal Bank Of Canada set a $26.00 target price on Bloom Energy in a research note on Monday, April 14th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $23.97.

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.