Mezzasalma Advisors LLC Boosts Position in Bloom Energy Corporation $BE

Key Points

• Mezzasalma Advisors LLC increased its stake in Bloom Energy Corporation by 37.8% in Q2, holding 45,660 shares valued at approximately $1,092,000.
• Insider trading activity saw notable sales, including Aman Joshi selling 4,870 shares and Shawn Marie Soderberg selling 45,000 shares, contributing to a total of 301,193 shares sold worth $14.9 million in the last ninety days.
• A variety of analysts have recently upgraded their opinions on Bloom Energy, with price targets ranging from $44.00 to $105.00, reflecting a generally positive outlook on the stock's performance.

Mezzasalma Advisors LLC lifted its position in Bloom Energy Corporation (NYSE:BE - Free Report) by 37.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,660 shares of the company's stock after purchasing an additional 12,521 shares during the quarter. Mezzasalma Advisors LLC's holdings in Bloom Energy were worth $1,092,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Advisors Asset Management Inc. increased its holdings in shares of Bloom Energy by 43.0% during the 1st quarter. Advisors Asset Management Inc. now owns 86,665 shares of the company's stock worth $1,704,000 after buying an additional 26,077 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Bloom Energy by 634.2% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 598,327 shares of the company's stock worth $11,763,000 after acquiring an additional 516,833 shares during the last quarter. Teacher Retirement System of Texas raised its position in Bloom Energy by 662.4% in the first quarter. Teacher Retirement System of Texas now owns 73,518 shares of the company's stock valued at $1,445,000 after purchasing an additional 63,875 shares during the period. Comerica Bank grew its holdings in shares of Bloom Energy by 5.8% during the 1st quarter. Comerica Bank now owns 88,554 shares of the company's stock worth $1,741,000 after purchasing an additional 4,885 shares during the period. Finally, Torray Investment Partners LLC acquired a new stake in shares of Bloom Energy during the 1st quarter worth about $904,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bloom Energy

In other 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 directly owned 224,361 shares of the company's stock, valued at approximately $9,728,292.96. The trade was a 2.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shawn Marie Soderberg sold 45,000 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $43.31, for a total value of $1,948,950.00. Following the completion of the transaction, the insider directly owned 229,682 shares in the company, valued at $9,947,527.42. This trade represents a 16.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 301,193 shares of company stock worth $14,893,710 over the last ninety days. 3.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BE has been the subject of a number of recent analyst reports. Evercore ISI reiterated an "outperform" rating on shares of Bloom Energy in a research report on Monday, October 13th. Hsbc Global Res lowered Bloom Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 9th. Susquehanna raised their price target on Bloom Energy from $43.00 to $105.00 and gave the stock a "positive" rating in a research report on Monday, October 13th. JPMorgan Chase & Co. increased their target price on Bloom Energy from $40.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday, October 2nd. Finally, Morgan Stanley raised their target price on Bloom Energy from $35.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Bloom Energy currently has an average rating of "Hold" and a consensus price target of $61.70.

Bloom Energy Trading Down 3.2%

BE opened at $111.43 on Friday. The business has a fifty day moving average price of $69.22 and a 200 day moving average price of $38.70. The company has a debt-to-equity ratio of 2.18, a current ratio of 4.99 and a quick ratio of 3.21. Bloom Energy Corporation has a 12 month low of $9.02 and a 12 month high of $125.75. The stock has a market capitalization of $26.07 billion, a price-to-earnings ratio of 2,786.45, a PEG ratio of 176.86 and a beta of 3.48.

Bloom Energy (NYSE:BE - Get Free Report) last posted its quarterly 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. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%.The company had revenue of $401.24 million for the quarter, compared to analyst estimates of $382.23 million. During the same quarter last year, the company earned ($0.06) EPS. Bloom Energy's revenue for the quarter was up 19.5% compared to the same quarter last year. Bloom Energy has set its FY 2025 guidance at EPS. Sell-side analysts expect that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

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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