Kayne Anderson Rudnick Investment Management LLC Has $867,000 Holdings in Bloom Energy Corporation $BE

Key Points

• Kayne Anderson Rudnick Investment Management LLC acquired an additional 36,232 shares of Bloom Energy Corporation, increasing its holdings by 459.3% to 44,120 shares, valued at approximately $867,000.
• Numerous analysts have raised their price targets for Bloom Energy, with JPMorgan increasing it from $18.00 to $33.00, while Morgan Stanley set a target of $44.00, indicating strong market confidence in the stock.
• Bloom Energy reported a net margin of 1.45% and revenue of $401.24 million for the quarter, exceeding analysts' expectations and showing a 19.5% increase compared to the same period last year.

Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 459.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,120 shares of the company's stock after purchasing an additional 36,232 shares during the period. Kayne Anderson Rudnick Investment Management LLC's holdings in Bloom Energy were worth $867,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Harbour Investments Inc. lifted its stake in Bloom Energy by 2,160.0% during the first quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock valued at $31,000 after purchasing an additional 1,512 shares during the last quarter. Quarry LP acquired a new stake in Bloom Energy during the fourth quarter valued at approximately $35,000. Vision Financial Markets LLC acquired a new stake in Bloom Energy during the first quarter valued at approximately $39,000. ORG Wealth Partners LLC acquired a new stake in Bloom Energy during the first quarter valued at approximately $41,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in Bloom Energy during the fourth quarter valued at approximately $49,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Aman Joshi sold 4,870 shares of Bloom Energy 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 completion of the sale, the insider owned 224,361 shares of the company's stock, valued at $9,728,292.96. This trade represents a 2.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Kr Sridhar sold 37,955 shares of the firm's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $53.39, for a total transaction of $2,026,417.45. Following the transaction, the chief executive officer owned 2,378,663 shares in the company, valued at $126,996,817.57. This represents a 1.57% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 308,477 shares of company stock worth $14,924,815. Corporate insiders own 3.60% of the company's stock.

Bloom Energy Stock Down 3.3%

Shares of NYSE:BE traded down $1.80 during trading on Monday, reaching $53.00. 10,193,037 shares of the company traded hands, compared to its average volume of 10,662,528. The firm has a fifty day simple moving average of $33.89 and a 200 day simple moving average of $25.24. The firm has a market cap of $12.40 billion, a P/E ratio of 1,325.33 and a beta of 3.28. Bloom Energy Corporation has a 1-year low of $9.02 and a 1-year high of $55.07. The company has a quick ratio of 3.21, a current ratio of 4.99 and a debt-to-equity ratio of 2.18.

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, beating analysts' consensus estimates of $0.02 by $0.08. The company had revenue of $401.24 million during 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%. The company's revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.06) EPS. Bloom Energy has set its FY 2025 guidance at EPS. Analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on BE shares. JPMorgan Chase & Co. raised shares of Bloom Energy from a "neutral" rating to an "overweight" rating and increased their target price for the company from $18.00 to $33.00 in a research note on Wednesday, July 9th. Piper Sandler reduced their price target on shares of Bloom Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Roth Capital upped their price target on shares of Bloom Energy from $20.00 to $25.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company upped their price target 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, August 1st. Finally, Morgan Stanley upped their price target on shares of Bloom Energy from $35.00 to $44.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $26.39.

Bloom Energy Company 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.