Jefferies Financial Group Inc. Has $2.30 Million Position in Bloom Energy Corporation (NYSE:BE)

Key Points

• Jefferies Financial Group Inc. has increased its stake in Bloom Energy Corporation by 484.7%, holding approximately $2.30 million worth of shares after acquiring an additional 96,932 shares recently.
• Insider Satish Chitoori and Aman Joshi sold shares worth over $130,000 combined, indicating a decrease in their ownership percentages.
• Bloom Energy reported a profit of $0.10 EPS for the last quarter, exceeding analysts’ expectations, with revenue rising by 19.5% year-over-year.

Jefferies Financial Group Inc. increased its position in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 484.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 116,932 shares of the company's stock after purchasing an additional 96,932 shares during the period. Jefferies Financial Group Inc. owned approximately 0.05% of Bloom Energy worth $2,299,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Harbour Investments Inc. raised its holdings 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 acquiring an additional 1,512 shares in the last quarter. Quarry LP acquired a new position in Bloom Energy in the 4th quarter valued at $35,000. ORG Wealth Partners LLC acquired a new position in Bloom Energy in the 1st quarter valued at $41,000. Gordian Capital Singapore Pte Ltd acquired a new position in Bloom Energy in the 4th quarter valued at $49,000. Finally, Nisa Investment Advisors LLC raised its holdings in Bloom Energy by 47.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,373 shares of the company's stock valued at $66,000 after acquiring an additional 1,081 shares in the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Bloom Energy

In other news, insider Satish Chitoori sold 2,038 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $19.73, for a total transaction of $40,209.74. Following the completion of the sale, the insider directly owned 176,618 shares in the company, valued at $3,484,673.14. This represents a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Aman Joshi sold 4,658 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $19.72, for a total transaction of $91,855.76. Following the sale, the insider owned 131,371 shares of the company's stock, valued at approximately $2,590,636.12. This trade represents a 3.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,513 shares of company stock valued at $1,261,765 in the last quarter. Insiders own 3.50% of the company's stock.

Bloom Energy Price Performance

Shares of NYSE:BE opened at $36.84 on Monday. The firm has a market cap of $8.56 billion, a PE ratio of 921.23 and a beta of 3.28. The firm's fifty day moving average is $24.52 and its 200-day moving average is $22.46. The company has a debt-to-equity ratio of 2.18, a quick ratio of 3.21 and a current ratio of 4.99. Bloom Energy Corporation has a 52 week low of $9.02 and a 52 week high of $39.09.

Bloom Energy (NYSE:BE - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.10 EPS 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 analyst estimates of $382.23 million. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. Bloom Energy's revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.06) earnings per share. Sell-side analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on BE shares. Hsbc Global Res upgraded shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Truist Financial lowered their price objective on shares of Bloom Energy from $22.00 to $19.00 and set a "hold" rating for the company in a research report on Monday, April 21st. UBS Group boosted their price objective on shares of Bloom Energy from $29.00 to $41.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Wells Fargo & Company boosted their price objective on shares of Bloom Energy from $22.00 to $38.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, Morgan Stanley boosted their price objective on shares of Bloom Energy from $35.00 to $44.00 and gave the company an "overweight" rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Bloom Energy currently has a consensus rating of "Moderate Buy" and an average price target of $26.39.

Bloom Energy 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.

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