Candriam S.C.A. Makes New $6.48 Million Investment in Bloom Energy Corporation $BE

Key Points

• Candriam S.C.A. invested approximately $6.48 million in Bloom Energy Corporation by acquiring 329,436 shares during the first quarter, holding about 0.14% of the company's stock.
• Several hedge funds have recently increased their stakes in Bloom Energy, with institutional investors collectively owning 77.04% of the company's stock.
• Bloom Energy's stock price has seen price target adjustments from multiple analysts, with target prices ranging from $26.00 to $44.00 and an average rating of "Moderate Buy."

Candriam S.C.A. bought a new position in shares of Bloom Energy Corporation (NYSE:BE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 329,436 shares of the company's stock, valued at approximately $6,477,000. Candriam S.C.A. owned approximately 0.14% of Bloom Energy as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BE. CWM LLC raised its holdings in shares of Bloom Energy by 23.7% in the 1st quarter. CWM LLC now owns 3,360 shares of the company's stock worth $66,000 after purchasing an additional 644 shares during the period. Xponance Inc. raised its holdings in shares of Bloom Energy by 6.4% in the 1st quarter. Xponance Inc. now owns 15,484 shares of the company's stock worth $304,000 after purchasing an additional 935 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Bloom Energy by 1.7% in the 4th 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. Nisa Investment Advisors LLC raised its holdings in 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 during the period. Finally, Sei Investments Co. raised its holdings in Bloom Energy by 3.7% during the 1st quarter. Sei Investments Co. now owns 33,424 shares of the company's stock valued at $691,000 after acquiring an additional 1,184 shares during the period. Institutional investors own 77.04% of the company's stock.

Insider Activity at Bloom Energy

In related news, insider Aman Joshi sold 4,870 shares of the company's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $43.36, for a total value of $211,163.20. Following the completion of the transaction, the insider directly owned 224,361 shares in the company, valued at approximately $9,728,292.96. The trade was a 2.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shawn Marie Soderberg sold 45,000 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $43.31, for a total transaction of $1,948,950.00. Following the completion of the transaction, the insider owned 229,682 shares of the company's stock, valued at $9,947,527.42. This trade represents a 16.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,522 shares of company stock valued at $3,580,387 over the last ninety days. 3.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Piper Sandler lowered their target price on shares of Bloom Energy from $31.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. UBS Group boosted their target price on shares of Bloom Energy from $29.00 to $41.00 and gave the company a "buy" rating in a report on Friday, July 25th. Morgan Stanley boosted their target price on shares of Bloom Energy from $35.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Wells Fargo & Company boosted their target price on shares of Bloom Energy from $22.00 to $38.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. raised shares of Bloom Energy from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $18.00 to $33.00 in a report on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $26.39.

Bloom Energy Stock Up 0.5%

BE opened at $44.74 on Friday. The company has a fifty day moving average price of $30.38 and a 200-day moving average price of $24.12. The firm has a market capitalization of $10.47 billion, a P/E ratio of 1,118.78 and a beta of 3.28. The company has a debt-to-equity ratio of 2.18, a current ratio of 4.99 and a quick ratio of 3.21. Bloom Energy Corporation has a one year low of $9.02 and a one year high of $47.21.

Bloom Energy (NYSE:BE - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.10 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%. The business's revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.06) EPS. Bloom Energy has set its FY 2025 guidance at EPS. Equities research analysts expect that Bloom Energy Corporation will post -0.23 earnings per share 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.

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