Deutsche Bank AG Trims Stake in Bloom Energy Corporation $BE

Key Points

• Deutsche Bank AG reduced its stake in Bloom Energy by 37.7%, selling 492,107 shares and retaining 811,880 shares, valued at approximately $15.96 million.
• Bloom Energy reported earnings of $0.10 EPS for the last quarter, significantly exceeding analysts' expectations, while its revenue grew 19.5% year-over-year.
• Recent analyst ratings for Bloom Energy include upgraded price targets, with UBS raising its target from $29.00 to $41.00 and JPMorgan increasing theirs from $18.00 to $33.00.

Deutsche Bank AG reduced its stake in Bloom Energy Corporation (NYSE:BE - Free Report) by 37.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 811,880 shares of the company's stock after selling 492,107 shares during the period. Deutsche Bank AG owned approximately 0.35% of Bloom Energy worth $15,962,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in Bloom Energy during the fourth quarter valued at $35,000. Harbour Investments Inc. boosted its stake in Bloom Energy by 2,160.0% during the first quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock valued at $31,000 after buying an additional 1,512 shares during the period. ORG Wealth Partners LLC bought a new stake in Bloom Energy during the first quarter valued at $41,000. Vision Financial Markets LLC bought a new stake in Bloom Energy during the first quarter valued at $39,000. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in Bloom Energy during the fourth quarter valued at $49,000. Institutional investors own 77.04% of the company's stock.

Insider Buying and Selling

In other news, insider Aman Joshi sold 4,870 shares of the business's 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 owned 224,361 shares of the company's stock, valued at approximately $9,728,292.96. The trade was a 2.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Shawn Marie Soderberg sold 2,901 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $43.44, for a total value of $126,019.44. Following the completion of the sale, the insider directly owned 227,414 shares of the company's stock, valued at approximately $9,878,864.16. This trade represents a 1.26% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 85,057 shares of company stock worth $3,512,484. Insiders own 3.50% of the company's stock.

Bloom Energy Trading Down 8.6%

Shares of NYSE BE traded down $4.02 during midday trading on Tuesday, reaching $42.48. The company had a trading volume of 6,208,700 shares, compared to its average volume of 7,262,239. Bloom Energy Corporation has a one year low of $9.02 and a one year high of $47.21. 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's fifty day moving average price is $29.07 and its 200-day moving average price is $23.70. The stock has a market cap of $9.94 billion, a PE ratio of 1,062.27 and a beta of 3.28.

Bloom Energy (NYSE:BE - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.10 earnings per share 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 analyst estimates of $382.23 million. During the same quarter in the previous year, the company posted ($0.06) EPS. Bloom Energy's revenue for the quarter was up 19.5% on a year-over-year basis. Bloom Energy has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BE shares. JPMorgan Chase & Co. raised Bloom Energy from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $18.00 to $33.00 in a research note on Wednesday, July 9th. Susquehanna lifted their price objective on Bloom Energy from $26.00 to $30.00 and gave the company a "positive" rating in a research note on Monday, July 21st. Piper Sandler dropped their price target on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Truist Financial dropped their price target on Bloom Energy from $22.00 to $19.00 and set a "hold" rating for the company in a research note on Monday, April 21st. Finally, Mizuho lifted their price target 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 assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Bloom Energy currently has a consensus rating of "Moderate Buy" and an average price target of $26.39.

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.