Erste Asset Management GmbH Grows Position in Bloom Energy Corporation $BE

Key Points

• Erste Asset Management GmbH increased its holdings in Bloom Energy Corporation by 1.8% during Q1, acquiring an additional 11,323 shares, bringing its total ownership to 640,195 shares valued at approximately $13 million.
• Analyst reports have resulted in varied target price adjustments for Bloom Energy, with Wells Fargo raising its target from $22 to $38, while UBS increased it from $29 to $41, reflecting a generally positive outlook on the stock.
• Bloom Energy's stock price opened at $44.55, showing a significant increase of 3.4% with a twelve-month range from a low of $9.02 to a high of $47.21, indicating strong market performance and investor interest.

Erste Asset Management GmbH raised its position in Bloom Energy Corporation (NYSE:BE - Free Report) by 1.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 640,195 shares of the company's stock after purchasing an additional 11,323 shares during the period. Erste Asset Management GmbH owned 0.28% of Bloom Energy worth $13,015,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of BE. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Bloom Energy in the 4th quarter valued at $61,968,000. Voloridge Investment Management LLC increased its stake in shares of Bloom Energy by 323.6% in the 4th quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company's stock valued at $31,992,000 after acquiring an additional 1,100,352 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Bloom Energy by 306.3% in the 4th quarter. Wellington Management Group LLP now owns 1,383,897 shares of the company's stock valued at $30,736,000 after acquiring an additional 1,043,326 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Bloom Energy in the 4th quarter valued at $20,871,000. Finally, Nuveen LLC bought a new stake in shares of Bloom Energy in the 1st quarter valued at $13,476,000. Institutional investors own 77.04% of the company's stock.

Bloom Energy Stock Up 8.3%

Shares of NYSE BE traded up $3.72 during trading on Friday, hitting $48.55. The stock had a trading volume of 13,911,498 shares, compared to its average volume of 12,035,836. Bloom Energy Corporation has a 12 month low of $9.02 and a 12 month high of $48.97. The company has a debt-to-equity ratio of 2.18, a current ratio of 4.99 and a quick ratio of 3.21. The company has a market capitalization of $11.36 billion, a PE ratio of 1,214.05 and a beta of 3.28. The firm has a fifty day moving average of $30.92 and a two-hundred day moving average of $24.30.

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

Analysts Set New Price Targets

A number of brokerages have commented on BE. Mizuho boosted their price target 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 boosted their price target on shares of Bloom Energy from $29.00 to $41.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Roth Capital boosted their price target on shares of Bloom Energy from $20.00 to $25.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. upgraded shares of Bloom Energy from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $18.00 to $33.00 in a research note on Wednesday, July 9th. Finally, Susquehanna boosted 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. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.39.

Insider Activity at Bloom Energy

In related news, insider Aman Joshi sold 4,870 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $43.36, for a total value of $211,163.20. Following the transaction, the insider directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Maciej Kurzymski sold 8,733 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $22.79, for a total transaction of $199,025.07. Following the completion of the transaction, the insider directly owned 109,860 shares in the company, valued at $2,503,709.40. This trade represents a 7.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,522 shares of company stock valued at $3,580,387 over the last quarter. 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.