Nuveen LLC Acquires New Holdings in Bloom Energy Corporation $BE

Key Points

• Nuveen LLC has acquired a new stake in Bloom Energy Corporation, purchasing 685,445 shares worth approximately $13.5 million, representing a 0.30% ownership of the company.
• Several institutional investors have recently increased their stakes in Bloom Energy, including Connor Clark & Lunn Investment Management Ltd., which boosted its holdings by 634.2% in the first quarter.
• Bloom Energy's stock saw upgrades from multiple analysts, with price targets raised by firms like Mizuho and Morgan Stanley, reflecting a positive outlook on the company's future performance.

Nuveen LLC bought a new position in shares of Bloom Energy Corporation (NYSE:BE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 685,445 shares of the company's stock, valued at approximately $13,476,000. Nuveen LLC owned 0.30% of Bloom Energy at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of BE. Quarry LP acquired a new stake in Bloom Energy during the fourth quarter worth $35,000. Harbour Investments Inc. boosted its stake in Bloom Energy by 2,160.0% during the first quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock worth $31,000 after buying an additional 1,512 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in Bloom Energy during the first quarter worth $41,000. Vision Financial Markets LLC acquired a new stake in Bloom Energy during the first quarter worth $39,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in Bloom Energy during the fourth quarter worth $49,000. Institutional investors own 77.04% of the company's stock.

Bloom Energy Trading Up 1.9%

NYSE:BE traded up $0.93 on Wednesday, hitting $50.87. 6,833,156 shares of the stock were exchanged, compared to its average volume of 11,776,674. The stock has a market capitalization of $11.90 billion, a price-to-earnings ratio of 1,272.07 and a beta of 3.28. Bloom Energy Corporation has a 52 week low of $9.02 and a 52 week high of $51.01. The company has a debt-to-equity ratio of 2.18, a quick ratio of 3.21 and a current ratio of 4.99. The company's 50-day moving average price is $32.60 and its 200 day moving average price is $24.82.

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 for the quarter, topping the consensus estimate of $0.02 by $0.08. The firm had revenue of $401.24 million during the quarter, compared to analysts' expectations of $382.23 million. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%.The company's quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.06) EPS. Bloom Energy has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insider Transactions at Bloom Energy

In other news, insider Aman Joshi sold 4,870 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $43.36, for a total value of $211,163.20. Following the completion of the sale, the insider directly owned 224,361 shares of the company's stock, valued at $9,728,292.96. This represents a 2.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,465 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $46.35, for a total value of $67,902.75. Following the completion of the sale, the insider directly owned 225,949 shares of the company's stock, valued at approximately $10,472,736.15. This trade represents a 0.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,522 shares of company stock valued at $3,580,387. 3.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Roth Capital lifted their price target on shares of Bloom Energy from $20.00 to $25.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. UBS Group lifted their price target on shares of Bloom Energy from $29.00 to $41.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. upgraded shares of Bloom Energy from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $18.00 to $33.00 in a research note on Wednesday, July 9th. Morgan Stanley boosted their target price on shares of Bloom Energy from $35.00 to $44.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Susquehanna boosted their target price on shares of Bloom Energy from $26.00 to $30.00 and gave the company a "positive" rating in a research note on Monday, July 21st. 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Bloom Energy has an average rating of "Moderate Buy" and a consensus target price of $26.39.

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.