Harbor Capital Advisors Inc. Makes New Investment in Bloom Energy Corporation $BE

Key Points

• Harbor Capital Advisors initiated a new Q3 stake in Bloom Energy, buying 13,083 shares valued at approximately $1.11 million.
• Insiders have been heavy sellers recently — including a 20,000-share sale by director Jim H. Snabe and a 13,105-share sale by Maciej Kurzymski — with a total of 120,410 shares (~$16.56M) sold in the last 90 days, while institutional investors own about 77% of the stock.
• Analyst views are mixed: the MarketBeat consensus is a "Hold" with an average target price of $93.77, though individual firms range from Outperform to Underperform.

Harbor Capital Advisors Inc. purchased a new position in shares of Bloom Energy Corporation (NYSE:BE - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 13,083 shares of the company's stock, valued at approximately $1,106,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Banque Transatlantique SA grew its position in Bloom Energy by 227.6% during the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company's stock worth $30,000 after purchasing an additional 1,161 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of Bloom Energy in the 2nd quarter valued at $36,000. NewEdge Advisors LLC increased its position in shares of Bloom Energy by 674.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,867 shares of the company's stock valued at $37,000 after acquiring an additional 1,626 shares during the period. Cranbrook Wealth Management LLC purchased a new position in Bloom Energy in the 3rd quarter worth $39,000. Finally, IFP Advisors Inc lifted its position in Bloom Energy by 1,560.8% during the 2nd quarter. IFP Advisors Inc now owns 2,076 shares of the company's stock worth $50,000 after acquiring an additional 1,951 shares during the period. 77.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Royal Bank Of Canada reissued an "outperform" rating and issued a $123.00 price objective on shares of Bloom Energy in a report on Monday, October 20th. Evercore ISI reiterated an "outperform" rating on shares of Bloom Energy in a report on Monday, October 13th. Roth Capital restated a "neutral" rating and set a $103.00 price objective on shares of Bloom Energy in a research note on Wednesday, October 29th. Bank of America increased their price objective on shares of Bloom Energy from $26.00 to $39.00 and gave the stock an "underperform" rating in a research note on Tuesday, November 25th. Finally, Daiwa Capital Markets set a $98.00 target price on shares of Bloom Energy in a research report on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $93.77.

Insider Activity at Bloom Energy

In related news, Director Jim H. Snabe sold 20,000 shares of Bloom Energy stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $143.04, for a total value of $2,860,800.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Maciej Kurzymski sold 13,105 shares of the company's stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $144.09, for a total transaction of $1,888,299.45. Following the transaction, the insider owned 93,269 shares of the company's stock, valued at $13,439,130.21. This represents a 12.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 120,410 shares of company stock valued at $16,557,185 in the last ninety days. 3.60% of the stock is currently owned by company insiders.

Bloom Energy Stock Performance

Shares of NYSE BE opened at $90.26 on Friday. The company has a market capitalization of $21.35 billion, a PE ratio of 510.44, a price-to-earnings-growth ratio of 58.03 and a beta of 3.00. The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.88 and a current ratio of 4.40. The company's fifty day moving average price is $107.69 and its 200 day moving average price is $69.71. Bloom Energy Corporation has a 1 year low of $15.15 and a 1 year high of $147.86.

Bloom Energy (NYSE:BE - Get Free Report) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.07. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The company had revenue of $519.05 million during the quarter, compared to analysts' expectations of $425.18 million. During the same quarter in the previous year, the company earned ($0.01) earnings per share. The firm's revenue for the quarter was up 57.1% on a year-over-year basis. On average, research analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Bloom Energy Profile

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.

Want to see what other hedge funds are holding BE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bloom Energy Corporation (NYSE:BE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.