Quantbot Technologies LP Acquires New Holdings in Bloom Energy Corporation $BE

Key Points

• Quantbot Technologies LP invested approximately $2.74 million in Bloom Energy, acquiring 139,558 shares during the first quarter, reflecting their 0.06% ownership in the company.
• Recent insider sales include Shawn Marie Soderberg and Aman Joshi selling a total of 6,335 shares, indicating a slight decrease in their ownership percentage.
• Bloom Energy's Q2 earnings surpassed expectations, reporting $0.10 EPS against a consensus estimate of $0.02, and revenue growth of 19.5% year-over-year.

Quantbot Technologies LP purchased a new position in shares of Bloom Energy Corporation (NYSE:BE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 139,558 shares of the company's stock, valued at approximately $2,744,000. Quantbot Technologies LP owned approximately 0.06% of Bloom Energy as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BE. Fuller & Thaler Asset Management Inc. acquired a new position in Bloom Energy during the fourth quarter worth $61,968,000. Voloridge Investment Management LLC lifted its position in Bloom Energy by 323.6% during the 4th quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company's stock worth $31,992,000 after buying an additional 1,100,352 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Bloom Energy by 306.3% during the 4th quarter. Wellington Management Group LLP now owns 1,383,897 shares of the company's stock worth $30,736,000 after buying an additional 1,043,326 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Bloom Energy in the 4th quarter valued at about $20,871,000. Finally, Nuveen LLC acquired a new stake in shares of Bloom Energy in the first quarter valued at about $13,476,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BE has been the topic of several analyst reports. UBS Group upped their price target on shares of Bloom Energy from $29.00 to $41.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Wells Fargo & Company raised their target price on shares of Bloom Energy from $22.00 to $38.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. raised Bloom Energy from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $18.00 to $33.00 in a research report on Wednesday, July 9th. Piper Sandler cut their price objective on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Finally, Roth Capital boosted their target price on Bloom Energy from $20.00 to $25.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Two equities research 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 company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $26.39.

Bloom Energy Stock Performance

BE stock traded up $3.72 during trading hours on Friday, hitting $48.55. 13,911,498 shares of the stock were exchanged, compared to its average volume of 12,035,836. Bloom Energy Corporation has a 12 month low of $9.02 and a 12 month high of $48.97. The company has a current ratio of 4.99, a quick ratio of 3.21 and a debt-to-equity ratio of 2.18. The firm has a market capitalization of $11.36 billion, a P/E ratio of 1,214.05 and a beta of 3.28. The company has a 50-day simple moving average of $30.92 and a two-hundred day simple moving average of $24.30.

Bloom Energy (NYSE:BE - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.08. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The business had revenue of $401.24 million for the quarter, compared to analyst estimates of $382.23 million. During the same period last year, the firm earned ($0.06) earnings per share. Bloom Energy's revenue for the quarter was up 19.5% compared to the same quarter last year. Bloom Energy has set its FY 2025 guidance at EPS. On average, analysts forecast that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Insider Activity

In other Bloom Energy news, insider Shawn Marie Soderberg sold 45,000 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $43.31, for a total transaction of $1,948,950.00. Following the completion of the sale, the insider directly owned 229,682 shares in the company, valued at $9,947,527.42. This represents a 16.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Satish Chitoori sold 20,000 shares of Bloom Energy stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $45.00, for a total value of $900,000.00. Following the completion of the transaction, the insider owned 234,493 shares in the company, valued at approximately $10,552,185. The trade was a 7.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,522 shares of company stock valued at $3,580,387 in the last 90 days. 3.60% of the stock is owned by corporate insiders.

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.