11,000 Shares in Bloom Energy Corporation (NYSE:BE) Purchased by Caliber Wealth Management LLC KS

Key Points

• Caliber Wealth Management LLC acquired 11,000 shares of Bloom Energy Corporation, marking a new stake valued at approximately $216,000 during the first quarter.
• Bloom Energy has seen significant investments from institutional investors, with a total of 77.04% of the stock now held by them.
• Recent research upgrades from various analysts include a move from "hold" to "strong-buy" by HSBC Global Res, indicating growing optimism about Bloom Energy's prospects.

Caliber Wealth Management LLC KS purchased a new position in shares of Bloom Energy Corporation (NYSE:BE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 11,000 shares of the company's stock, valued at approximately $216,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BE. CWM LLC raised its position in shares of Bloom Energy by 23.7% in the 1st quarter. CWM LLC now owns 3,360 shares of the company's stock valued at $66,000 after purchasing an additional 644 shares in the last quarter. Xponance Inc. raised 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 acquiring an additional 935 shares in the last quarter. Mackenzie Financial Corp raised 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 acquiring an additional 1,035 shares in the last quarter. Nisa Investment Advisors LLC raised 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 acquiring an additional 1,081 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC raised its position in shares of Bloom Energy by 12.3% during the 1st quarter. SeaBridge Investment Advisors LLC now owns 12,684 shares of the company's stock valued at $249,000 after acquiring an additional 1,390 shares in the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Bloom Energy

In other news, CEO Kr Sridhar sold 42,383 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $19.14, for a total transaction of $811,210.62. Following the completion of the sale, the chief executive officer directly owned 2,724,613 shares of the company's stock, valued at $52,149,092.82. This represents a 1.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Maciej Kurzymski sold 1,012 shares of the company's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $25.27, for a total value of $25,573.24. Following the sale, the insider directly owned 108,848 shares of the company's stock, valued at approximately $2,750,588.96. This represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,513 shares of company stock valued at $1,261,765 over the last 90 days. 3.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

BE has been the topic of several research reports. Morgan Stanley dropped their price target on Bloom Energy from $35.00 to $30.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Piper Sandler dropped their price target on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Truist Financial dropped their price target on Bloom Energy from $22.00 to $19.00 and set a "hold" rating on the stock in a research report on Monday, April 21st. Hsbc Global Res raised Bloom Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Finally, Robert W. Baird lowered their price objective on Bloom Energy from $32.00 to $27.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.97.

Bloom Energy Price Performance

Shares of NYSE:BE traded up $1.78 during trading hours on Wednesday, hitting $36.53. 4,359,227 shares of the company's stock traded hands, compared to its average volume of 6,806,680. Bloom Energy Corporation has a 52 week low of $9.02 and a 52 week high of $36.83. The company has a debt-to-equity ratio of 2.07, a quick ratio of 2.39 and a current ratio of 3.44. The company's fifty day simple moving average is $23.41 and its two-hundred day simple moving average is $22.16. The company has a market cap of $8.48 billion, a price-to-earnings ratio of -730.45 and a beta of 3.22.

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, beating the consensus estimate of ($0.07) by $0.10. Bloom Energy had a net margin of 0.29% and a return on equity of 2.51%. The company had revenue of $326.02 million during the quarter, compared to analyst estimates of $294.27 million. During the same quarter last year, the firm posted ($0.17) EPS. The business's revenue for the quarter was up 38.5% on a year-over-year basis. As a group, equities analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current fiscal 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.