Fuller & Thaler Asset Management Inc. Buys 821,814 Shares of Bloom Energy Corporation $BE

Key Points

• Fuller & Thaler Asset Management Inc. has increased its stake in Bloom Energy Corporation by 29.5%, acquiring an additional 821,814 shares, bringing its total holdings to approximately 3.6 million shares valued at $71 million.
• Institutional investors own 77.04% of Bloom Energy's stock, with several firms significantly increasing their positions during the last quarter, indicating strong investor confidence in the company.
• Bloom Energy reported a positive earnings performance with a net revenue of $401.24 million for the last quarter, a 19.5% increase year-over-year, alongside an earnings per share of $0.10, surpassing analyst expectations.

Fuller & Thaler Asset Management Inc. grew its position in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 29.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,611,925 shares of the company's stock after acquiring an additional 821,814 shares during the quarter. Fuller & Thaler Asset Management Inc. owned about 1.56% of Bloom Energy worth $71,010,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in shares of Bloom Energy in the 1st quarter worth about $2,744,000. Northern Trust Corp boosted its position in shares of Bloom Energy by 3.2% during the first quarter. Northern Trust Corp now owns 1,916,535 shares of the company's stock valued at $37,679,000 after buying an additional 60,141 shares during the last quarter. Algert Global LLC grew its holdings in Bloom Energy by 132.5% during the first quarter. Algert Global LLC now owns 107,260 shares of the company's stock worth $2,109,000 after buying an additional 61,120 shares in the last quarter. Raymond James Financial Inc. grew its holdings in Bloom Energy by 7.2% during the first quarter. Raymond James Financial Inc. now owns 947,522 shares of the company's stock worth $18,628,000 after buying an additional 63,730 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of Bloom Energy by 3.7% in the 1st quarter. Sei Investments Co. now owns 33,424 shares of the company's stock worth $691,000 after acquiring an additional 1,184 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Mizuho increased their target price on shares of Bloom Energy from $26.00 to $31.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Susquehanna increased their price objective 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. JPMorgan Chase & Co. raised shares of Bloom Energy from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $18.00 to $33.00 in a research report on Wednesday, July 9th. Wells Fargo & Company upped their target price on Bloom Energy from $22.00 to $38.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Finally, UBS Group increased their price target on Bloom Energy from $29.00 to $41.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $26.39.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,465 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $46.35, for a total transaction of $67,902.75. Following the sale, the insider directly owned 225,949 shares of the company's stock, valued at $10,472,736.15. This represents a 0.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Satish Chitoori sold 2,128 shares of Bloom Energy stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $43.44, for a total transaction of $92,440.32. Following the completion of the transaction, the insider owned 232,365 shares of the company's stock, valued at $10,093,935.60. The trade was a 0.91% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,522 shares of company stock valued at $3,580,387. 3.60% of the stock is currently owned by insiders.

Bloom Energy Stock Performance

Shares of BE stock traded up $3.72 during trading hours on Friday, hitting $48.55. 13,911,498 shares of the company were exchanged, compared to its average volume of 12,035,836. 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 has a market capitalization of $11.36 billion, a price-to-earnings ratio of 1,214.05 and a beta of 3.28. The firm has a fifty day simple moving average of $30.92 and a 200 day simple moving average of $24.30. Bloom Energy Corporation has a 52-week low of $9.02 and a 52-week high of $48.97.

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

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.