Phoenix Financial Ltd. Acquires New Position in Bloom Energy Corporation $BE

Key Points

• Phoenix Financial Ltd. has acquired 40,000 shares of Bloom Energy Corporation, valued at approximately $899,000, indicating increased institutional interest in the company.
• Bloom Energy's stock has faced a decline of 9.6% and currently boasts a market capitalization of $22.08 billion, with a significantly high P/E ratio of 2,359.26.
• In its latest earnings report, Bloom Energy beat expectations by posting $0.10 earnings per share and 19.5% year-over-year revenue growth, leading to optimistic future guidance from analysts.

Phoenix Financial Ltd. acquired 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 Securities and Exchange Commission. The fund acquired 40,000 shares of the company's stock, valued at approximately $899,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Blair William & Co. IL boosted its stake in Bloom Energy by 2.8% in the 2nd quarter. Blair William & Co. IL now owns 16,246 shares of the company's stock worth $389,000 after purchasing an additional 437 shares during the period. CWM LLC boosted its stake in Bloom Energy by 23.7% in the 1st quarter. CWM LLC now owns 3,360 shares of the company's stock worth $66,000 after purchasing an additional 644 shares during the period. Xponance Inc. boosted its stake in Bloom Energy by 6.4% in the 1st quarter. Xponance Inc. now owns 15,484 shares of the company's stock worth $304,000 after purchasing an additional 935 shares during the period. Robertson Stephens Wealth Management LLC boosted its stake in Bloom Energy by 7.4% in the 2nd quarter. Robertson Stephens Wealth Management LLC now owns 14,459 shares of the company's stock worth $346,000 after purchasing an additional 1,000 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in Bloom Energy by 47.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,373 shares of the company's stock worth $66,000 after purchasing an additional 1,081 shares during the period. 77.04% of the stock is currently owned by institutional investors.

Bloom Energy Stock Down 9.6%

NYSE BE opened at $94.35 on Thursday. 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 has a market capitalization of $22.08 billion, a P/E ratio of 2,359.26, a P/E/G ratio of 165.56 and a beta of 3.48. Bloom Energy Corporation has a one year low of $9.02 and a one year high of $125.75. The stock has a 50 day moving average price of $72.92 and a 200-day moving average price of $40.31.

Bloom Energy (NYSE:BE - Get Free Report) last released 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 for the quarter, compared to analyst estimates of $382.23 million. During the same quarter in the prior year, the firm posted ($0.06) EPS. Bloom Energy's quarterly revenue was up 19.5% compared to the same quarter last year. Bloom Energy has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Insider Activity at Bloom Energy

In related news, CEO Kr Sridhar sold 37,955 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $53.39, for a total transaction of $2,026,417.45. Following the sale, the chief executive officer owned 2,378,663 shares in the company, valued at approximately $126,996,817.57. This represents a 1.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Aman Joshi sold 4,870 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $43.36, for a total value of $211,163.20. Following 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 disclosure for this sale can be found here. Insiders have sold a total of 301,193 shares of company stock worth $14,893,710 in the last ninety days. Corporate insiders own 3.60% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on BE. Morgan Stanley upped their price target on Bloom Energy from $35.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Robert W. Baird upped their price target on Bloom Energy from $45.00 to $61.00 and gave the stock an "outperform" rating in a research note on Thursday, September 4th. BTIG Research upped their price target on Bloom Energy from $42.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, September 29th. Evercore ISI reiterated an "outperform" rating on shares of Bloom Energy in a research report on Monday, October 13th. Finally, Wells Fargo & Company increased their target price on Bloom Energy to $95.00 and gave the company an "equal weight" rating in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $65.70.

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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