Synovus Financial Corp Takes $1.31 Million Position in Bloom Energy Corporation $BE

Key Points

• Synovus Financial Corp acquired 66,446 shares of Bloom Energy Corporation, totaling approximately $1.3 million, as reported in their latest SEC filing.
• Other institutional investors, such as Harbour Investments and Quarry LP, have also significantly increased their stakes in Bloom Energy, indicating a growing interest in the company.
• Bloom Energy reported earnings of $0.10 per share, surpassing estimates and showing a 19.5% year-over-year revenue increase, reaching $401.24 million in the last quarter.

Synovus Financial Corp acquired a new stake in 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 acquired 66,446 shares of the company's stock, valued at approximately $1,306,000.

Several other institutional investors have also modified their holdings of BE. Harbour Investments Inc. raised its holdings in shares of Bloom Energy by 2,160.0% in 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 during the period. Quarry LP purchased a new stake in shares of Bloom Energy in the fourth quarter worth approximately $35,000. Vision Financial Markets LLC purchased a new stake in shares of Bloom Energy in the first quarter worth approximately $39,000. ORG Wealth Partners LLC purchased a new stake in shares of Bloom Energy in the first quarter worth approximately $41,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Bloom Energy in the fourth quarter worth approximately $49,000. 77.04% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Maciej Kurzymski sold 8,733 shares of Bloom Energy stock in a transaction on Monday, June 16th. The stock was sold at an average price of $22.79, for a total value of $199,025.07. Following the transaction, the insider directly owned 109,860 shares in the company, valued at approximately $2,503,709.40. This trade represents a 7.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kr Sridhar sold 60,000 shares of Bloom Energy stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $49.70, for a total value of $2,982,000.00. Following the completion of the transaction, the chief executive officer owned 2,368,951 shares in the company, valued at $117,736,864.70. This represents a 2.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 308,477 shares of company stock worth $14,924,815. Insiders own 3.60% of the company's stock.

Analysts Set New Price Targets

BE has been the topic of several recent analyst reports. Wells Fargo & Company increased their price target on Bloom Energy from $22.00 to $38.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Morgan Stanley increased their price target on Bloom Energy from $35.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. UBS Group increased their price target on Bloom Energy from $29.00 to $41.00 and gave the stock a "buy" rating in a report on Friday, July 25th. JPMorgan Chase & Co. upgraded Bloom Energy from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $18.00 to $33.00 in a report on Wednesday, July 9th. Finally, Mizuho raised their price objective on Bloom Energy from $26.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.39.

Bloom Energy Trading Down 3.3%

BE traded down $1.80 during trading on Monday, hitting $53.00. 10,193,037 shares of the stock were exchanged, compared to its average volume of 10,662,528. The firm has a 50 day simple moving average of $33.89 and a 200 day simple moving average of $25.24. The firm has a market cap of $12.40 billion, a price-to-earnings ratio of 1,325.33 and a beta of 3.28. Bloom Energy Corporation has a 1 year low of $9.02 and a 1 year high of $55.07. 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 (NYSE:BE - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.02 by $0.08. The company had revenue of $401.24 million for the quarter, compared to the consensus estimate of $382.23 million. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%.Bloom Energy's quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the business posted ($0.06) EPS. Bloom Energy has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Bloom Energy Corporation will post -0.23 EPS for the current year.

Bloom Energy Company 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.