35,489 Shares in Bloom Energy Corporation (NYSE:BE) Purchased by Convergence Investment Partners LLC

Convergence Investment Partners LLC bought a new position in shares of Bloom Energy Corporation (NYSE:BE - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 35,489 shares of the company's stock, valued at approximately $698,000.

Several other institutional investors have also bought and sold shares of the business. CWM LLC lifted its position in Bloom Energy by 23.7% during the first quarter. CWM LLC now owns 3,360 shares of the company's stock valued at $66,000 after purchasing an additional 644 shares during the last quarter. Xponance Inc. grew its holdings in 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 purchasing an additional 935 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Bloom Energy by 1.7% in 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 last quarter. Nisa Investment Advisors LLC lifted its stake in Bloom Energy by 47.2% in the first quarter. Nisa Investment Advisors LLC now owns 3,373 shares of the company's stock worth $66,000 after purchasing an additional 1,081 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC lifted its stake in Bloom Energy by 12.3% in the first quarter. SeaBridge Investment Advisors LLC now owns 12,684 shares of the company's stock worth $249,000 after purchasing an additional 1,390 shares during the last quarter. Institutional investors own 77.04% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Susquehanna lifted their price target on shares of Bloom Energy from $26.00 to $30.00 and gave the company a "positive" rating in a research note on Monday, July 21st. Morgan Stanley decreased their price target on shares of Bloom Energy from $35.00 to $30.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Jefferies Financial Group decreased their price target on shares of Bloom Energy from $25.00 to $19.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. raised shares of Bloom Energy from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $18.00 to $33.00 in a research note on Wednesday, July 9th. Finally, Piper Sandler reduced their price objective on shares of Bloom Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Bloom Energy has a consensus rating of "Moderate Buy" and a consensus price target of $24.97.

Insider Buying and Selling

In other Bloom Energy news, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kr Sridhar sold 42,383 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were 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 in the company, valued at approximately $52,149,092.82. The trade was a 1.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,513 shares of company stock valued at $1,261,765 in the last 90 days. 3.60% of the stock is currently owned by insiders.

Bloom Energy Stock Performance

Shares of BE traded up $1.31 during trading hours on Friday, reaching $34.37. 16,423,808 shares of the company traded hands, compared to its average volume of 9,213,165. The stock has a market capitalization of $7.98 billion, a P/E ratio of -687.26 and a beta of 3.22. The company has a quick ratio of 2.39, a current ratio of 3.44 and a debt-to-equity ratio of 2.07. Bloom Energy Corporation has a 12-month low of $9.02 and a 12-month high of $34.78. The business has a fifty day moving average price of $22.78 and a 200-day moving average price of $22.01.

Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.10. The firm had revenue of $326.02 million for the quarter, compared to analyst estimates of $294.27 million. Bloom Energy had a net margin of 0.29% and a return on equity of 2.51%. The business's quarterly revenue was up 38.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.17) earnings per share. Equities 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.