Pacific Point Advisors LLC Buys Shares of 30,000 Bloom Energy Corporation $BE

Key Points

• Pacific Point Advisors LLC has acquired a new stake in Bloom Energy Corporation, purchasing 30,000 shares valued at approximately $718,000.
• Multiple institutional investors have increased their positions in Bloom Energy, with Public Investment Fund raising their stake by 16.8% and Goldman Sachs Group Inc. by 50.3% in the last quarter.
• Analysts have set new price targets for Bloom Energy shares, with Roth Capital increasing their target from $34.00 to $73.00, while the average target price is now $38.29.

Pacific Point Advisors LLC purchased a new stake in shares of Bloom Energy Corporation (NYSE:BE - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 30,000 shares of the company's stock, valued at approximately $718,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Public Investment Fund increased its stake in Bloom Energy by 16.8% in the 1st quarter. Public Investment Fund now owns 3,803,770 shares of the company's stock valued at $74,782,000 after purchasing an additional 546,372 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of Bloom Energy by 29.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,611,925 shares of the company's stock valued at $71,010,000 after buying an additional 821,814 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Bloom Energy by 50.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company's stock valued at $49,127,000 after buying an additional 836,810 shares in the last quarter. Northern Trust Corp raised its stake in shares of Bloom Energy by 3.2% during the 1st quarter. Northern Trust Corp now owns 1,916,535 shares of the company's stock worth $37,679,000 after buying an additional 60,141 shares during the last quarter. Finally, Tree Line Advisors Hong Kong Ltd. purchased a new stake in shares of Bloom Energy in the 1st quarter worth about $22,609,000. Institutional investors and hedge funds own 77.04% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on BE. Roth Capital increased their price objective on shares of Bloom Energy from $34.00 to $73.00 and gave the company a "neutral" rating in a research note on Friday, September 19th. Mizuho upped their price target on shares of Bloom Energy from $26.00 to $31.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Wells Fargo & Company raised their price objective on shares of Bloom Energy from $38.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Friday, September 12th. Bank of America lifted their price objective on Bloom Energy from $21.00 to $24.00 and gave the stock an "underperform" rating in a research report on Tuesday, September 23rd. Finally, Royal Bank Of Canada set a $75.00 target price on Bloom Energy in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $38.29.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Aman Joshi sold 4,870 shares of Bloom Energy 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 owned 224,361 shares in the company, valued at $9,728,292.96. The trade was a 2.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Shawn Marie Soderberg sold 25,000 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $52.00, for a total transaction of $1,300,000.00. Following the transaction, the insider owned 225,949 shares in the company, valued at approximately $11,749,348. The trade was a 9.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 302,205 shares of company stock worth $14,919,283 in the last quarter. 3.50% of the stock is currently owned by corporate insiders.

Bloom Energy Stock Up 15.1%

Shares of NYSE BE opened at $84.70 on Wednesday. The firm has a market cap of $19.82 billion, a P/E ratio of 2,118.03 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 Corporation has a 1 year low of $9.02 and a 1 year high of $86.89. The firm's 50 day moving average price is $53.04 and its 200 day moving average price is $31.92.

Bloom Energy (NYSE:BE - Get Free Report) last issued its quarterly 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 return on equity of 6.80% and a net margin of 1.45%.The company had revenue of $401.24 million during the quarter, compared to the consensus estimate of $382.23 million. During the same period in the previous year, the firm posted ($0.06) EPS. Bloom Energy's revenue was up 19.5% on a year-over-year basis. Bloom Energy has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Bloom Energy 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.

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