MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Decreases Position in Bloom Energy Corporation $BE

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its holdings in Bloom Energy Corporation by 32.0%, now owning 752,348 shares valued at approximately $14.8 million.
• Several large investors increased their stakes in Bloom Energy, with Bosun Asset Management LLC boosting its holdings by 280.0% this quarter.
• Wall Street analysts have marked an optimistic outlook on Bloom Energy, with target price upgrades from multiple firms, including an increase from $26 to $30 by Susquehanna.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its position in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 32.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 752,348 shares of the company's stock after selling 353,740 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.32% of Bloom Energy worth $14,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Dimensional Fund Advisors LP purchased a new stake in Bloom Energy during the fourth quarter valued at $2,540,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Bloom Energy in the 4th quarter worth about $260,000. Cetera Investment Advisers increased its holdings in shares of Bloom Energy by 19.9% in the 4th quarter. Cetera Investment Advisers now owns 23,842 shares of the company's stock worth $530,000 after buying an additional 3,956 shares during the last quarter. Focus Partners Wealth raised its position in shares of Bloom Energy by 49.5% during the 4th quarter. Focus Partners Wealth now owns 15,347 shares of the company's stock valued at $341,000 after buying an additional 5,082 shares in the last quarter. Finally, Maven Securities LTD bought a new position in shares of Bloom Energy in the 4th quarter valued at about $555,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 45,000 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $43.31, for a total transaction of $1,948,950.00. Following the completion of the sale, the insider directly owned 229,682 shares in the company, valued at $9,947,527.42. This represents a 16.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Kr Sridhar sold 60,000 shares of Bloom Energy stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $49.70, for a total value of $2,982,000.00. Following the completion of the transaction, the chief executive officer owned 2,368,951 shares in the company, valued at $117,736,864.70. This trade represents a 2.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 308,477 shares of company stock worth $14,924,815. Company insiders own 3.60% of the company's stock.

Bloom Energy Stock Down 0.2%

Bloom Energy stock traded down $0.16 during midday trading on Friday, hitting $67.13. 13,493,602 shares of the company's stock were exchanged, compared to its average volume of 10,639,364. The company has a debt-to-equity ratio of 2.18, a quick ratio of 3.21 and a current ratio of 4.99. The company has a market cap of $15.71 billion, a PE ratio of 1,678.67 and a beta of 3.28. The firm has a 50-day moving average of $40.82 and a two-hundred day moving average of $27.49. Bloom Energy Corporation has a 12 month low of $9.02 and a 12 month high of $68.74.

Bloom Energy (NYSE:BE - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.02 by $0.08. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The business had revenue of $401.24 million during the quarter, compared to analyst estimates of $382.23 million. During the same quarter in the previous year, the business posted ($0.06) EPS. The company's quarterly revenue was up 19.5% compared to the same quarter last year. Bloom Energy has set its FY 2025 guidance at EPS. As a group, analysts expect that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BE has been the subject of a number of analyst reports. Robert W. Baird raised their price target on Bloom Energy from $45.00 to $61.00 and gave the stock an "outperform" rating in a research report on Thursday, September 4th. Roth Capital lifted their price target 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. Susquehanna increased their price objective on shares of Bloom Energy from $26.00 to $30.00 and gave the stock a "positive" rating in a research report on Monday, July 21st. Morgan Stanley raised their price target on Bloom Energy from $35.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Mizuho lifted their price objective on shares of Bloom Energy from $26.00 to $31.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $29.61.

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.