Northern Trust Corp Increases Holdings in Bloom Energy Corporation $BE

Key Points

• Northern Trust Corp increased its holdings in Bloom Energy Corporation by 3.2%, owning approximately $37.68 million worth of 1,916,535 shares as reported in their recent SEC filing.
• Bloom Energy's stock performance shows a significant price range, with a one-year low of $9.02 and a high of $55.07, indicating potential volatility in the market.
• Equities research analysts have mixed ratings for Bloom Energy, with a consensus rating of "Moderate Buy" and a price target around $26.39.

Northern Trust Corp boosted its position in Bloom Energy Corporation (NYSE:BE - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,916,535 shares of the company's stock after acquiring an additional 60,141 shares during the period. Northern Trust Corp owned 0.83% of Bloom Energy worth $37,679,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BE. Harbour Investments Inc. boosted its position in shares of Bloom Energy by 2,160.0% during the first quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock valued at $31,000 after buying an additional 1,512 shares during the last quarter. Quarry LP purchased a new position in shares of Bloom Energy during the fourth quarter valued at approximately $35,000. Vision Financial Markets LLC purchased a new position in shares of Bloom Energy during the first quarter valued at approximately $39,000. ORG Wealth Partners LLC purchased a new position in shares of Bloom Energy during the first quarter valued at approximately $41,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in shares of Bloom Energy during the fourth quarter valued at approximately $49,000. Institutional investors own 77.04% of the company's stock.

Analyst Upgrades and Downgrades

BE has been the topic of several analyst reports. Mizuho lifted their target price on Bloom Energy from $26.00 to $31.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. UBS Group lifted their target price on Bloom Energy from $29.00 to $41.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Morgan Stanley upped their target price on Bloom Energy from $35.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Susquehanna upped their target price on Bloom Energy from $26.00 to $30.00 and gave the company a "positive" rating in a report on Monday, July 21st. Finally, Wells Fargo & Company lifted their price target on Bloom Energy from $22.00 to $38.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Bloom Energy presently has an average rating of "Moderate Buy" and an average target price of $26.39.

Insider Transactions at Bloom Energy

In related news, CEO Kr Sridhar sold 37,955 shares of the business's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $53.39, for a total value of $2,026,417.45. Following the sale, the chief executive officer directly owned 2,378,663 shares in the company, valued at approximately $126,996,817.57. The trade was a 1.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Aman Joshi sold 4,870 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $43.36, for a total value of $211,163.20. Following the completion of the sale, the insider owned 224,361 shares in the company, valued at $9,728,292.96. This represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 308,477 shares of company stock valued at $14,924,815. 3.50% of the stock is currently owned by insiders.

Bloom Energy Stock Performance

NYSE:BE traded down $1.80 during trading hours on Friday, reaching $53.00. The stock had a trading volume of 10,193,037 shares, compared to its average volume of 10,662,528. Bloom Energy Corporation has a 12-month low of $9.02 and a 12-month high of $55.07. The stock has a 50 day simple moving average of $33.89 and a 200 day simple moving average of $25.24. The stock has a market cap of $12.40 billion, a P/E ratio of 481.27 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 quarterly earnings data on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.08. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%.The business had revenue of $401.24 million for the quarter, compared to analysts' expectations of $382.23 million. During the same period in the previous year, the business posted ($0.06) EPS. The firm's quarterly revenue was up 19.5% compared to the same quarter last year. Bloom Energy has set its FY 2025 guidance at EPS. On average, research analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

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.