Bloom Energy Corporation (NYSE:BE) Shares Bought by Mizuho Markets Americas LLC

Key Points

• Mizuho Markets Americas LLC increased its stake in Bloom Energy Corporation by 11.7% during Q1, acquiring an additional 31,932 shares, bringing its total to 304,510 shares valued at nearly $6 million.
• Several major investors significantly boosted their holdings in Bloom Energy, with Wellington Management Group LLP increasing its stake by 306.3% in the fourth quarter.
• Analyst predictions for Bloom Energy stock are generally optimistic, with price targets ranging from $19.00 to $44.00 and a consensus average rating of "Moderate Buy."

Mizuho Markets Americas LLC lifted its holdings in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 11.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 304,510 shares of the company's stock after acquiring an additional 31,932 shares during the period. Mizuho Markets Americas LLC owned 0.13% of Bloom Energy worth $5,987,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BE. Sender Co & Partners Inc. purchased a new position in Bloom Energy in the 4th quarter valued at $283,000. Select Equity Group L.P. grew its position in Bloom Energy by 125.5% in the 4th quarter. Select Equity Group L.P. now owns 278,515 shares of the company's stock valued at $6,186,000 after buying an additional 154,993 shares during the last quarter. SIR Capital Management L.P. grew its position in Bloom Energy by 155.1% in the 4th quarter. SIR Capital Management L.P. now owns 572,798 shares of the company's stock valued at $12,722,000 after buying an additional 348,279 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Bloom Energy by 634.2% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 598,327 shares of the company's stock valued at $11,763,000 after buying an additional 516,833 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its position in Bloom Energy by 662.4% in the 1st quarter. Teacher Retirement System of Texas now owns 73,518 shares of the company's stock valued at $1,445,000 after buying an additional 63,875 shares during the last quarter. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Maciej Kurzymski sold 8,733 shares of the business's 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 owned 109,860 shares of the company's stock, valued at approximately $2,503,709.40. The trade was a 7.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,496 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $19.89, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders sold a total of 11,654 shares of company stock valued at $263,667 in the last three months. 3.60% of the stock is currently owned by corporate insiders.

Bloom Energy Price Performance

BE stock traded up $0.36 during trading on Thursday, hitting $44.44. The stock had a trading volume of 6,837,536 shares, compared to its average volume of 7,208,204. The company's 50 day moving average price is $27.60 and its two-hundred day moving average price is $23.20. Bloom Energy Corporation has a 1-year low of $9.02 and a 1-year high of $46.50. The stock has a market cap of $10.40 billion, a price-to-earnings ratio of 1,111.28 and a beta of 3.28. 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 announced its earnings results on Thursday, July 31st. The company reported $0.10 earnings per share 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 firm had revenue of $401.24 million during the quarter, compared to the consensus estimate of $382.23 million. During the same quarter in the previous year, the company posted ($0.06) EPS. The firm's revenue for the quarter was up 19.5% on a year-over-year basis. On average, sell-side analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Analyst Ratings Changes

BE has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of Bloom Energy from $22.00 to $38.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Mizuho boosted their target price on shares of Bloom Energy from $26.00 to $31.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. Truist Financial decreased their target price on shares of Bloom Energy from $22.00 to $19.00 and set a "hold" rating on the stock in a research report on Monday, April 21st. Roth Mkm decreased their target price on shares of Bloom Energy from $26.00 to $20.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Finally, UBS Group boosted their target price on shares of Bloom Energy from $29.00 to $41.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Bloom Energy has an average rating of "Moderate Buy" and a consensus price target of $26.39.

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.