Cetera Investment Advisers Purchases 7,135 Shares of Bloom Energy Corporation $BE

Key Points

• Cetera Investment Advisers increased its stake in Bloom Energy Corporation by 29.9%, now holding a total of 30,977 shares valued at approximately $609,000.
• Bloom Energy's latest earnings report showed a quarterly revenue increase of 19.5% year-over-year, with an EPS of $0.10, surpassing analyst expectations.
• Currently, 77.04% of Bloom Energy's stock is owned by institutional investors and hedge funds, highlighting significant market confidence in the company.

Cetera Investment Advisers lifted its holdings in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 29.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,977 shares of the company's stock after purchasing an additional 7,135 shares during the period. Cetera Investment Advisers' holdings in Bloom Energy were worth $609,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP bought a new stake in shares of Bloom Energy during the 4th quarter valued at about $35,000. ORG Wealth Partners LLC bought a new stake in shares of Bloom Energy during the 1st quarter valued at about $41,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Bloom Energy during the 4th quarter valued at about $49,000. CWM LLC boosted its position in shares of Bloom Energy by 23.7% during 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. Finally, Nisa Investment Advisors LLC boosted 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 purchasing an additional 1,081 shares in the last quarter. Institutional investors own 77.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BE. Susquehanna increased their price target on Bloom Energy from $26.00 to $30.00 and gave the stock a "positive" rating in a report on Monday, July 21st. Piper Sandler cut their price target on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Roth Capital increased their price target on Bloom Energy from $20.00 to $25.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Mizuho increased their price target on Bloom Energy from $26.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Finally, JPMorgan Chase & Co. upgraded Bloom Energy from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $18.00 to $33.00 in a report on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $26.39.

Bloom Energy Stock Up 3.4%

Bloom Energy stock traded up $1.45 during trading on Wednesday, hitting $44.55. 14,703,942 shares of the company were exchanged, compared to its average volume of 13,084,391. 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 $10.42 billion, a P/E ratio of 1,114.03 and a beta of 3.28. The business's 50 day moving average is $29.93 and its 200 day moving average is $23.98. Bloom Energy Corporation has a 52 week low of $9.02 and a 52 week high of $47.21.

Bloom Energy (NYSE:BE - Get Free Report) last issued 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. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%.The company had revenue of $401.24 million during the quarter, compared to the consensus estimate of $382.23 million. During the same period last year, the business posted ($0.06) earnings per share. Bloom Energy's revenue was up 19.5% on a year-over-year basis. Bloom Energy has set its FY 2025 guidance at EPS. Analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insider Buying and Selling

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

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.