Strs Ohio Purchases New Stake in Bloom Energy Corporation $BE

Key Points

• Strs Ohio has acquired 18,000 shares of Bloom Energy Corporation, valued at approximately $354,000, during the first quarter of the year.
• Bloom Energy's stock is gaining attention as several analysts have recently raised their price targets, with JPMorgan upgrading their rating to "overweight" and increasing their target price from $18.00 to $33.00.
• Insider trading activities show that insiders have sold 302,205 shares valued at around $14.9 million over the last quarter, reflecting a significant decrease in their ownership.

Strs Ohio acquired a new position in shares of Bloom Energy Corporation (NYSE:BE - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 18,000 shares of the company's stock, valued at approximately $354,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Tree Line Advisors Hong Kong Ltd. acquired a new stake in shares of Bloom Energy during the first quarter worth $22,609,000. Driehaus Capital Management LLC bought a new stake in shares of Bloom Energy during the 1st quarter valued at about $21,066,000. Wellington Management Group LLP raised its stake in Bloom Energy by 306.3% during the fourth quarter. Wellington Management Group LLP now owns 1,383,897 shares of the company's stock worth $30,736,000 after acquiring an additional 1,043,326 shares during the period. Goldman Sachs Group Inc. raised its stake in Bloom Energy by 50.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company's stock worth $49,127,000 after acquiring an additional 836,810 shares during the period. Finally, Fuller & Thaler Asset Management Inc. lifted its holdings in 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 worth $71,010,000 after acquiring an additional 821,814 shares during the last quarter. Institutional investors and hedge funds own 77.04% of the company's stock.

Insider Activity

In other Bloom Energy news, insider Maciej Kurzymski sold 2,474 shares of the business's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $70.47, for a total value of $174,342.78. Following the sale, the insider directly owned 106,374 shares in the company, valued at approximately $7,496,175.78. The trade was a 2.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Satish Chitoori sold 20,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $45.00, for a total transaction of $900,000.00. Following the completion of the sale, the insider directly owned 234,493 shares of the company's stock, valued at $10,552,185. The trade was a 7.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 302,205 shares of company stock valued at $14,919,283 over the last quarter. Insiders own 3.50% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on BE. JPMorgan Chase & Co. raised Bloom Energy from a "neutral" rating to an "overweight" rating and upped their target price for the company from $18.00 to $33.00 in a report on Wednesday, July 9th. UBS Group upped their price objective on Bloom Energy from $29.00 to $41.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Mizuho raised their target price on Bloom Energy from $26.00 to $31.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Wells Fargo & Company upped their price target on shares of Bloom Energy from $38.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Friday, September 12th. Finally, Robert W. Baird increased their price objective on shares of Bloom Energy from $45.00 to $61.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Bloom Energy presently has an average rating of "Moderate Buy" and an average target price of $32.45.

Bloom Energy Price Performance

NYSE BE opened at $77.42 on Wednesday. Bloom Energy Corporation has a 12 month low of $9.02 and a 12 month high of $86.89. The firm has a market capitalization of $18.12 billion, a PE ratio of 1,935.98 and a beta of 3.28. The company's 50 day simple moving average is $48.22 and its 200 day simple moving average is $30.21. The company has a debt-to-equity ratio of 2.18, a current ratio of 4.99 and a quick ratio of 3.21.

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 (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 firm had revenue of $401.24 million during the quarter, compared to analyst estimates of $382.23 million. During the same period last year, the company posted ($0.06) EPS. The firm's quarterly revenue was up 19.5% on a year-over-year basis. Bloom Energy has set its FY 2025 guidance at EPS. As a group, equities 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.

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