Driehaus Capital Management LLC Purchases Shares of 1,071,525 Bloom Energy Corporation $BE

Key Points

• Driehaus Capital Management LLC purchased 1,071,525 shares of Bloom Energy Corporation, totaling approximately $21 million, representing about 0.46% ownership by the end of the first quarter.
• Bloom Energy reported an earnings per share (EPS) of $0.10, exceeding analysts' expectations and illustrating a 19.5% year-over-year increase in revenue to $401.24 million.
• Several institutional investors, including CWM LLC and Nisa Investment Advisors LLC, significantly increased their stakes in Bloom Energy during the first quarter, indicating growing confidence in the company.

Driehaus Capital Management LLC purchased a new stake in shares of Bloom Energy Corporation (NYSE:BE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,071,525 shares of the company's stock, valued at approximately $21,066,000. Driehaus Capital Management LLC owned about 0.46% of Bloom Energy at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of Bloom Energy in the 4th quarter valued at about $35,000. Harbour Investments Inc. increased its stake in Bloom Energy by 2,160.0% in the 1st 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 last quarter. ORG Wealth Partners LLC purchased a new stake in Bloom Energy in the 1st quarter valued at about $41,000. Vision Financial Markets LLC purchased a new stake in Bloom Energy in the 1st quarter valued at about $39,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in Bloom Energy in the 4th quarter valued at about $49,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Stock Performance

BE stock traded up $2.41 on Thursday, hitting $54.86. The company had a trading volume of 9,824,984 shares, compared to its average volume of 10,055,595. Bloom Energy Corporation has a 12-month low of $9.02 and a 12-month high of $55.25. The company has a current ratio of 4.99, a quick ratio of 3.21 and a debt-to-equity ratio of 2.18. The stock's 50-day simple moving average is $36.34 and its 200 day simple moving average is $26.00. The stock has a market cap of $12.84 billion, a price-to-earnings ratio of 1,371.84 and a beta of 3.28.

Bloom Energy (NYSE:BE - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $382.23 million. During the same quarter last year, the company posted ($0.06) earnings per share. The firm's quarterly revenue was up 19.5% on a year-over-year basis. Bloom Energy has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on BE. Wells Fargo & Company raised their price target on shares of Bloom Energy from $22.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Mizuho lifted their price objective on shares of Bloom Energy from $26.00 to $31.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. UBS Group lifted their price objective on Bloom Energy from $29.00 to $41.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Morgan Stanley lifted their price objective on shares of Bloom Energy from $35.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Robert W. Baird lifted their price objective on Bloom Energy from $45.00 to $61.00 and gave the stock an "outperform" rating in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $28.18.

Insiders Place Their Bets

In other Bloom Energy news, insider Shawn Marie Soderberg sold 45,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $43.31, for a total value of $1,948,950.00. Following the transaction, the insider directly owned 229,682 shares in the company, valued at approximately $9,947,527.42. This trade represents a 16.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Aman Joshi sold 4,870 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $43.36, for a total transaction of $211,163.20. Following the sale, the insider owned 224,361 shares in the company, valued at $9,728,292.96. The trade was a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 308,477 shares of company stock valued at $14,924,815. 3.60% of the stock is currently owned by corporate insiders.

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.