Navellier & Associates Inc. Purchases Shares of 49,905 Bloom Energy Corporation (NYSE:BE)

Key Points

• Navellier & Associates Inc. acquired 49,905 shares of Bloom Energy Corporation during the first quarter, valued at approximately $981,000, signaling institutional interest in the company.
• Analyst ratings for Bloom Energy show mixed sentiment, with a consensus rating of "Moderate Buy" and an average target price of $24.97.
• Bloom Energy reported a quarterly revenue of $326.02 million, exceeding analyst estimates, and had a notable earnings per share (EPS) of $0.03, marking a significant improvement from the previous year.

Navellier & Associates Inc. acquired a new stake in shares of Bloom Energy Corporation (NYSE:BE - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 49,905 shares of the company's stock, valued at approximately $981,000.

A number of other institutional investors have also modified their holdings of BE. Natixis Advisors LLC purchased a new position in Bloom Energy during the fourth quarter worth approximately $364,000. Thrivent Financial for Lutherans acquired a new position in shares of Bloom Energy during the 4th quarter worth approximately $216,000. Xponance Inc. lifted its position in shares of Bloom Energy by 12.4% during the 4th quarter. Xponance Inc. now owns 14,549 shares of the company's stock valued at $323,000 after buying an additional 1,607 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in Bloom Energy in the 4th quarter valued at $214,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Bloom Energy in the 4th quarter valued at $944,000. Hedge funds and other institutional investors own 77.04% of the company's stock.

Bloom Energy Trading Up 5.6%

NYSE BE traded up $1.93 during trading hours on Wednesday, reaching $36.68. The company had a trading volume of 3,588,372 shares, compared to its average volume of 6,798,403. The company has a current ratio of 3.44, a quick ratio of 2.39 and a debt-to-equity ratio of 2.07. The stock has a market capitalization of $8.52 billion, a P/E ratio of -733.45 and a beta of 3.22. The stock has a 50-day moving average of $23.41 and a 200 day moving average of $22.16. Bloom Energy Corporation has a 1-year low of $9.02 and a 1-year high of $36.83.

Bloom Energy (NYSE:BE - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.10. The firm had revenue of $326.02 million for the quarter, compared to analyst estimates of $294.27 million. Bloom Energy had a net margin of 0.29% and a return on equity of 2.51%. The business's revenue for the quarter was up 38.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.17) EPS. As a group, research analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Insider Activity at Bloom Energy

In other news, insider Maciej Kurzymski sold 8,733 shares of Bloom Energy stock in a transaction on Monday, June 16th. The stock was sold at an average price of $22.79, for a total value of $199,025.07. Following the completion of the sale, the insider directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Aman Joshi sold 4,658 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $19.72, for a total value of $91,855.76. Following the transaction, the insider directly owned 131,371 shares in the company, valued at approximately $2,590,636.12. The trade was a 3.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,513 shares of company stock valued at $1,261,765 over the last ninety days. 3.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Piper Sandler reduced their price objective on shares of Bloom Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Hsbc Global Res upgraded shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. JPMorgan Chase & Co. raised shares of Bloom Energy from a "neutral" rating to an "overweight" rating and raised their price target for the company from $18.00 to $33.00 in a research note on Wednesday, July 9th. Royal Bank Of Canada set a $26.00 price objective on Bloom Energy in a research note on Monday, April 14th. Finally, Morgan Stanley decreased their target price on Bloom Energy from $35.00 to $30.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $24.97.

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.