Mirae Asset Global Investments Co. Ltd. Reduces Stock Holdings in Bloom Energy Corporation $BE

Key Points

• Mirae Asset Global Investments has reduced its stake in Bloom Energy Corporation by 22.7%, owning 203,803 shares valued at approximately $4.9 million after selling 59,980 shares in the second quarter.
• Bloom Energy's stock price decreased by 3.6%, with a current market cap of $20.38 billion and a PE ratio of 2,177.54.
• CEO Kr Sridhar sold 60,000 shares of Bloom Energy stock worth nearly $3 million, reducing his ownership percentage by 2.47%.

Mirae Asset Global Investments Co. Ltd. lowered its stake in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 22.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 203,803 shares of the company's stock after selling 59,980 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.09% of Bloom Energy worth $4,875,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of BE. CWM LLC raised its stake in shares of Bloom Energy by 23.7% in the first quarter. CWM LLC now owns 3,360 shares of the company's stock valued at $66,000 after acquiring an additional 644 shares during the period. Xponance Inc. grew its holdings in Bloom Energy by 6.4% during the 1st quarter. Xponance Inc. now owns 15,484 shares of the company's stock valued at $304,000 after purchasing an additional 935 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Bloom Energy by 47.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,373 shares of the company's stock worth $66,000 after purchasing an additional 1,081 shares during the period. Banque Transatlantique SA raised its position in Bloom Energy by 227.6% in the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company's stock worth $30,000 after purchasing an additional 1,161 shares during the period. Finally, Sei Investments Co. lifted its stake in Bloom Energy by 3.7% in the first quarter. Sei Investments Co. now owns 33,424 shares of the company's stock worth $691,000 after purchasing an additional 1,184 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors.

Bloom Energy Stock Down 3.6%

NYSE:BE opened at $87.08 on Tuesday. The company has a debt-to-equity ratio of 2.18, a current ratio of 4.99 and a quick ratio of 3.21. The firm has a market cap of $20.38 billion, a PE ratio of 2,177.54 and a beta of 3.48. The company has a 50-day moving average of $57.57 and a 200 day moving average of $33.78. Bloom Energy Corporation has a 1-year low of $9.02 and a 1-year high of $95.70.

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, research analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Insider Transactions at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 60,000 shares of the business's 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 directly owned 2,368,951 shares in the company, valued at approximately $117,736,864.70. The trade was a 2.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Shawn Marie Soderberg sold 45,000 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were 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 owned 229,682 shares in the company, valued at $9,947,527.42. This represents a 16.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 302,205 shares of company stock worth $14,919,283. Company insiders own 3.50% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on BE. Wells Fargo & Company raised their price target on Bloom Energy from $38.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Friday, September 12th. Robert W. Baird lifted their target price on Bloom Energy from $45.00 to $61.00 and gave the stock an "outperform" rating in a research report on Thursday, September 4th. JPMorgan Chase & Co. boosted their target price on shares of Bloom Energy from $40.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday, October 2nd. Jefferies Financial Group cut shares of Bloom Energy from a "hold" rating to an "underperform" rating and upped their price target for the stock from $24.00 to $31.00 in a report on Wednesday, September 24th. Finally, Mizuho lowered shares of Bloom Energy from an "outperform" rating to a "neutral" rating and lifted their price objective for the company from $48.00 to $79.00 in a report on Thursday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Bloom Energy has a consensus rating of "Hold" and an average price target of $46.63.

About Bloom Energy

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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