400,000 Shares in Bloom Energy Corporation $BE Acquired by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

Key Points

• Cushing Asset Management LP acquired 400,000 shares of Bloom Energy Corporation, valued at approximately $9.57 million, during the 2nd quarter, increasing its stake to about 0.17% of the company.
• Bloom Energy's stock has received multiple target price upgrades from analysts, with recommendations ranging from "Strong Buy" to "Hold," and the average target price now stands at $32.13.
• Recent insider selling occurred, with executive Shawn Marie Soderberg selling 25,000 shares for $1.3 million; insiders sold a total of 302,205 shares worth nearly $14.92 million in the last quarter.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new stake in Bloom Energy Corporation (NYSE:BE - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 400,000 shares of the company's stock, valued at approximately $9,568,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 0.17% of Bloom Energy at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Harbour Investments Inc. lifted its holdings in Bloom Energy by 2,160.0% in the 1st quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock worth $31,000 after purchasing an additional 1,512 shares in the last quarter. Banque Transatlantique SA increased its position in shares of Bloom Energy by 227.6% in the first quarter. Banque Transatlantique SA now owns 1,671 shares of the company's stock valued at $30,000 after buying an additional 1,161 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Bloom Energy by 674.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,867 shares of the company's stock valued at $37,000 after purchasing an additional 1,626 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Bloom Energy in the 1st quarter valued at $41,000. Finally, Vision Financial Markets LLC purchased a new stake in Bloom Energy during the 1st quarter worth about $39,000. Institutional investors own 77.04% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on BE shares. Mizuho raised their price target on Bloom Energy from $26.00 to $31.00 and gave the company an "outperform" rating in a report on Monday, July 14th. JPMorgan Chase & Co. upgraded 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. Robert W. Baird boosted their price objective on Bloom Energy from $45.00 to $61.00 and gave the company an "outperform" rating in a report on Thursday, September 4th. Morgan Stanley upped their target price on Bloom Energy from $35.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, UBS Group upped their target price on Bloom Energy from $29.00 to $41.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Two 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. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $32.13.

Insider Buying and Selling

In related news, insider Satish Chitoori sold 400 shares of the company's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $71.16, for a total transaction of $28,464.00. Following the transaction, the insider owned 231,965 shares of the company's stock, valued at $16,506,629.40. This represents a 0.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kr Sridhar sold 37,955 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $53.39, for a total value of $2,026,417.45. Following the transaction, the chief executive officer owned 2,378,663 shares in the company, valued at $126,996,817.57. This trade represents a 1.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 302,205 shares of company stock worth $14,919,283 in the last 90 days. 3.50% of the stock is owned by insiders.

Bloom Energy Trading Up 1.8%

Shares of NYSE:BE traded up $1.53 during mid-day trading on Monday, reaching $86.46. 10,890,975 shares of the company's stock were exchanged, compared to its average volume of 11,346,791. Bloom Energy Corporation has a twelve month low of $9.02 and a twelve month high of $86.89. The company has a debt-to-equity ratio of 2.18, a quick ratio of 3.21 and a current ratio of 4.99. The firm has a market capitalization of $20.23 billion, a price-to-earnings ratio of 2,162.04 and a beta of 3.28. The business's fifty day moving average price is $47.18 and its 200-day moving average price is $29.88.

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, topping analysts' consensus estimates of $0.02 by $0.08. The firm had revenue of $401.24 million for 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.06) EPS. Bloom Energy has set its FY 2025 guidance at EPS. On average, research analysts predict 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.