Mirae Asset Global Investments Co. Ltd. Buys 572,678 Shares of Bloom Energy Corporation $BE

Key Points

• Mirae Asset Global Investments bought 572,678 Bloom Energy shares worth approximately $158.6 million, acquiring a 0.19% stake. Institutional investors collectively own 77.04% of the company.
• Bloom Energy insiders sold 89,698 shares valued at approximately $21.8 million over the past 90 days, including sales by insider Shawn Soderberg and director John T. Chambers.
• Analyst sentiment is mixed, with the stock carrying a consensus “Hold” rating and an average price target of $264.33. Bloom’s latest quarterly results exceeded expectations, reporting $0.94 in EPS and $1.24 billion in revenue, up 138.1% year over year.

Mirae Asset Global Investments Co. Ltd. purchased a new position in Bloom Energy Corporation (NYSE:BE - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 572,678 shares of the company's stock, valued at approximately $158,620,000. Mirae Asset Global Investments Co. Ltd. owned 0.19% of Bloom Energy at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Continuum Advisory LLC bought a new position in Bloom Energy in the 2nd quarter worth about $25,000. Trifecta Capital Advisors LLC bought a new stake in shares of Bloom Energy during the third quarter valued at approximately $26,000. MJT & Associates Financial Advisory Group Inc. raised its stake in shares of Bloom Energy by 49.3% during the second quarter. MJT & Associates Financial Advisory Group Inc. now owns 112 shares of the company's stock valued at $34,000 after acquiring an additional 37 shares in the last quarter. Markowski Investments bought a new stake in shares of Bloom Energy during the second quarter valued at approximately $37,000. Finally, Oakworth Capital Inc. purchased a new stake in shares of Bloom Energy in the third quarter valued at approximately $35,000. Institutional investors own 77.04% of the company's stock.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Shawn Soderberg sold 2,895 shares of Bloom Energy stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $233.60, for a total transaction of $676,272.00. Following the completion of the sale, the insider owned 129,370 shares of the company's stock, valued at approximately $30,220,832. The trade was a 2.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Chambers sold 15,000 shares of the business's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $250.00, for a total value of $3,750,000.00. Following the sale, the director owned 208,333 shares in the company, valued at approximately $52,083,250. The trade was a 6.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 89,698 shares of company stock worth $21,780,758 over the last 90 days. Insiders own 3.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BE. Susquehanna increased their price objective on Bloom Energy from $293.00 to $298.00 and gave the stock a "positive" rating in a research note on Friday, July 10th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Bloom Energy in a research report on Monday, October 19th. Morgan Stanley upped their target price on Bloom Energy from $310.00 to $335.00 and gave the stock an "overweight" rating in a report on Friday, October 23rd. JPMorgan Chase & Co. dropped their price target on Bloom Energy from $314.00 to $292.00 and set an "overweight" rating on the stock in a research report on Friday, October 23rd. Finally, Truist Financial increased their price target on Bloom Energy from $218.00 to $240.00 and gave the stock a "hold" rating in a research report on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $264.33.

Bloom Energy Stock Performance

Shares of Bloom Energy stock opened at $202.46 on Friday. The company has a market capitalization of $59.86 billion, a PE ratio of 124.21, a P/E/G ratio of 2.05 and a beta of 3.77. The company has a 50-day simple moving average of $248.16 and a two-hundred day simple moving average of $219.80. Bloom Energy Corporation has a one year low of $75.70 and a one year high of $351.28. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.08 and a current ratio of 3.74.

Bloom Energy (NYSE:BE - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.25. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.07 billion. Bloom Energy had a net margin of 13.53% and a return on equity of 45.29%. The business's revenue for the quarter was up 138.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.15 earnings per share. Research analysts expect that Bloom Energy Corporation will post 2.61 EPS for the current fiscal year.

Bloom Energy News Summary

Here are the key news stories impacting Bloom Energy this week:

• Positive Sentiment: Bloom Energy’s addition to the S&P 500 in September increases its visibility and can create demand from index-tracking funds. Analysts also see substantial long-term opportunity as data centers and artificial-intelligence infrastructure require reliable power. Bloom Energy Just Joined the S&P 500. Here's What History Says Happens Next.
• Positive Sentiment: A comparison with Plug Power favors BE on earnings growth, profitability and liquidity, supporting the view that Bloom is one of the stronger companies in the fuel-cell sector. Bloom Energy or Plug Power: Which Offers Better Long-Term Upside Now?
• Positive Sentiment: Recent coverage continues to highlight Bloom’s record quarter and explosive growth potential, while a recent analyst upgrade provided additional support for the stock’s investment case. Bloom Energy stock faces cash-flow test after record quarter

About Bloom Energy

Bloom Energy Corporation develops and manufactures energy systems designed to generate electricity on-site. Its primary product is the Bloom Energy Server, a solid oxide fuel cell platform that converts fuel into electricity through an electrochemical process rather than combustion. The systems are used by businesses, utilities, data centers and other organizations seeking reliable, distributed power.

The company also develops electrolyzers based on its solid oxide technology. These systems are designed to produce hydrogen from electricity and water and support applications related to industrial operations, energy storage and the emerging hydrogen economy.

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