Comerica Bank Purchases 4,885 Shares of Bloom Energy Corporation $BE

Key Points

• Comerica Bank increased its stake in Bloom Energy Corporation by 5.8%, acquiring an additional 4,885 shares during the first quarter, bringing its total holdings to 88,554 shares valued at approximately $1.74 million.
• Several other institutional investors have also significantly increased their positions in Bloom Energy, including Harbour Investments Inc., which grew its stake by 2,160% during the same period.
• Bloom Energy's stock has recently received upgraded price targets from multiple analysts, including UBS Group raising its price target from $29.00 to $41.00 and Wells Fargo raising it from $22.00 to $38.00, reflecting a positive outlook on the company's growth.

Comerica Bank lifted its position in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 5.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,554 shares of the company's stock after buying an additional 4,885 shares during the quarter. Comerica Bank's holdings in Bloom Energy were worth $1,741,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harbour Investments Inc. grew its position in shares of Bloom Energy by 2,160.0% during the 1st quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock worth $31,000 after buying an additional 1,512 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of Bloom Energy during the 1st quarter worth $41,000. Vision Financial Markets LLC bought a new position in shares of Bloom Energy during the 1st quarter worth $39,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of Bloom Energy during the 4th quarter worth $49,000. Finally, CWM LLC grew 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 worth $66,000 after buying an additional 644 shares in the last quarter. Institutional investors own 77.04% of the company's stock.

Insiders Place Their Bets

In other Bloom Energy news, insider Aman Joshi sold 4,870 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $43.36, for a total value of $211,163.20. Following the completion of the sale, the insider directly owned 224,361 shares in the company, 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 SEC, which can be accessed through the SEC website. Also, insider Shawn Marie Soderberg sold 25,000 shares of the firm's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $52.00, for a total value of $1,300,000.00. Following the completion of the transaction, the insider owned 225,949 shares of the company's stock, valued at approximately $11,749,348. The trade was a 9.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 308,477 shares of company stock valued at $14,924,815. 3.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. UBS Group upped their price objective on Bloom Energy from $29.00 to $41.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Wells Fargo & Company upped their price objective on Bloom Energy from $22.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. upgraded Bloom Energy from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $18.00 to $33.00 in a research note on Wednesday, July 9th. Susquehanna upped their price objective on Bloom Energy from $26.00 to $30.00 and gave the stock a "positive" rating in a research note on Monday, July 21st. Finally, Mizuho upped their price objective on Bloom Energy from $26.00 to $31.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Two 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 company. Based on data from MarketBeat, Bloom Energy currently has an average rating of "Moderate Buy" and an average target price of $26.39.

Bloom Energy Trading Down 3.2%

Bloom Energy stock opened at $51.23 on Wednesday. The stock has a 50-day moving average of $35.07 and a two-hundred day moving average of $25.62. The company has a debt-to-equity ratio of 2.18, a quick ratio of 3.21 and a current ratio of 4.99. Bloom Energy Corporation has a one year low of $9.02 and a one year high of $55.07. The stock has a market cap of $11.99 billion, a PE ratio of 1,281.07 and a beta of 3.28.

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. 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 analysts' expectations of $382.23 million. During the same period last year, the business posted ($0.06) earnings per share. The firm's revenue was up 19.5% compared to the same quarter last year. Bloom Energy has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

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.

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