CX Institutional Takes $359,000 Position in Bloom Energy Corporation $BE

Key Points

• CX Institutional has acquired a new stake in Bloom Energy Corporation, purchasing 15,000 shares valued at approximately $359,000 in the second quarter.
• Bloom Energy's earnings per share (EPS) beat estimates at $0.10 for the last quarter, showing a significant increase in revenue of 19.5% compared to the previous year.
• Analysts have raised their price targets for Bloom Energy, with UBS setting a new target at $41.00 and Robert W. Baird increasing theirs to $61.00, indicating positive sentiment towards the stock.

CX Institutional acquired a new stake in shares of Bloom Energy Corporation (NYSE:BE - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 15,000 shares of the company's stock, valued at approximately $359,000.

A number of other hedge funds have also recently made changes to their positions in BE. Advisors Asset Management Inc. boosted its holdings in Bloom Energy by 43.0% during the first quarter. Advisors Asset Management Inc. now owns 86,665 shares of the company's stock worth $1,704,000 after purchasing an additional 26,077 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Bloom Energy by 634.2% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 598,327 shares of the company's stock worth $11,763,000 after purchasing an additional 516,833 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in Bloom Energy by 662.4% during the first quarter. Teacher Retirement System of Texas now owns 73,518 shares of the company's stock worth $1,445,000 after purchasing an additional 63,875 shares during the last quarter. Comerica Bank boosted its holdings in Bloom Energy by 5.8% during the first quarter. Comerica Bank now owns 88,554 shares of the company's stock worth $1,741,000 after purchasing an additional 4,885 shares during the last quarter. Finally, Torray Investment Partners LLC purchased a new position in Bloom Energy during the first quarter worth about $904,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Stock Performance

NYSE BE opened at $70.31 on Friday. The company's 50 day moving average is $50.90 and its 200-day moving average is $31.11. Bloom Energy Corporation has a 12-month low of $9.02 and a 12-month high of $86.89. The company has a quick ratio of 3.21, a current ratio of 4.99 and a debt-to-equity ratio of 2.18. The firm has a market cap of $16.45 billion, a P/E ratio of 1,758.19 and a beta of 3.28.

Bloom Energy (NYSE:BE - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.08. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The company had revenue of $401.24 million for the quarter, compared to analyst estimates of $382.23 million. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. The company's quarterly revenue was up 19.5% compared to the same quarter last year. Bloom Energy has set its FY 2025 guidance at EPS. Sell-side analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BE. UBS Group boosted their price target on shares of Bloom Energy from $29.00 to $41.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Robert W. Baird boosted their price target on shares of Bloom Energy from $45.00 to $61.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Mizuho lifted their price objective on shares of Bloom Energy from $26.00 to $31.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. JPMorgan Chase & Co. raised shares of Bloom Energy from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $18.00 to $33.00 in a research report on Wednesday, July 9th. Finally, Bank of America lifted their price objective on shares of Bloom Energy from $21.00 to $24.00 and gave the stock an "underperform" rating in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, Bloom Energy currently has a consensus rating of "Moderate Buy" and an average price target of $33.08.

Insider Buying and Selling

In related news, insider Maciej Kurzymski sold 2,474 shares of the company's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $70.47, for a total transaction of $174,342.78. Following the sale, the insider owned 106,374 shares of the company's stock, valued at approximately $7,496,175.78. This represents a 2.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kr Sridhar sold 37,955 shares of the company's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $53.39, for a total transaction of $2,026,417.45. Following the sale, the chief executive officer directly owned 2,378,663 shares in the company, valued at $126,996,817.57. This trade represents a 1.57% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 302,205 shares of company stock valued at $14,919,283. Corporate insiders own 3.60% of the company's stock.

About Bloom Energy

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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