Mackenzie Financial Corp Has $254,000 Position in Bloom Energy Corporation (NYSE:BE)

Key Points

• Mackenzie Financial Corp significantly reduced its holdings in Bloom Energy Corporation, trimming its position by 79.6% to 12,944 shares, valued at approximately $254,000.
• Several institutional investors, including Sheaff Brock Investment Advisors LLC and Caliber Wealth Management LLC KS, have recently increased their stakes or acquired new positions in Bloom Energy, signaling growing institutional interest.
• Wall Street analysts have varied opinions on Bloom Energy's stock, with target prices ranging from $20.00 to $38.00, reflecting a consensus rating of "Moderate Buy" among analysts.

Mackenzie Financial Corp lessened its stake in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 79.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,944 shares of the company's stock after selling 50,428 shares during the period. Mackenzie Financial Corp's holdings in Bloom Energy were worth $254,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in Bloom Energy during the fourth quarter valued at approximately $35,000. ORG Wealth Partners LLC acquired a new position in Bloom Energy during the first quarter valued at approximately $41,000. Gordian Capital Singapore Pte Ltd acquired a new position in Bloom Energy during the fourth quarter valued at approximately $49,000. CWM LLC grew its holdings in Bloom Energy by 23.7% during the first quarter. CWM LLC now owns 3,360 shares of the company's stock valued at $66,000 after purchasing an additional 644 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of Bloom Energy by 47.2% in the first quarter. Nisa Investment Advisors LLC now owns 3,373 shares of the company's stock worth $66,000 after acquiring an additional 1,081 shares during the last quarter. Institutional investors and hedge funds own 77.04% of the company's stock.

Bloom Energy Price Performance

Shares of NYSE BE traded up $0.36 during midday trading on Thursday, reaching $44.44. 6,837,536 shares of the company traded hands, compared to its average volume of 7,208,204. The firm has a market cap of $10.40 billion, a PE ratio of 1,111.28 and a beta of 3.28. The stock's 50-day simple moving average is $27.60 and its 200-day simple moving average is $23.20. Bloom Energy Corporation has a 12 month low of $9.02 and a 12 month high of $46.50. 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 (NYSE:BE - Get Free Report) last issued its quarterly earnings data 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 analysts' expectations of $382.23 million. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%. The business's revenue was up 19.5% on a year-over-year basis. During the same period last year, the business earned ($0.06) earnings per share. As a group, equities analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BE. UBS Group raised their price objective on shares of Bloom Energy from $29.00 to $41.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Roth Mkm lowered their price objective on shares of Bloom Energy from $26.00 to $20.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Susquehanna raised their price objective on shares of Bloom Energy from $26.00 to $30.00 and gave the stock a "positive" rating in a research note on Monday, July 21st. Roth Capital raised their price objective on shares of Bloom Energy from $20.00 to $25.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Jefferies Financial Group lowered their price objective on shares of Bloom Energy from $25.00 to $19.00 and set a "hold" rating on the stock in a research note on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and two have assigned a strong buy 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 related news, insider Shawn Marie Soderberg sold 1,496 shares of Bloom Energy stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $19.89, for a total value of $29,755.44. Following the completion of the transaction, the insider directly owned 229,682 shares of the company's stock, valued at $4,568,374.98. The trade was a 0.65% 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 Maciej Kurzymski sold 8,733 shares of Bloom Energy stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $22.79, for a total value of $199,025.07. Following the completion of the transaction, the insider directly owned 109,860 shares of the company's stock, valued at $2,503,709.40. This represents a 7.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,654 shares of company stock valued at $263,667 over the last ninety days. 3.60% of the stock is currently owned by company insiders.

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.