Torray Investment Partners LLC Invests $904,000 in Bloom Energy Corporation (NYSE:BE)

Key Points

• Torray Investment Partners LLC made a new investment of approximately $904,000 in Bloom Energy Corporation by acquiring 45,969 shares during the 1st quarter of the year.
• Insider Maciej Kurzymski sold 8,733 shares of Bloom Energy at an average price of $22.79, indicating a 7.36% decrease in his position.
• Bloom Energy reported a revenue increase of 38.5% compared to the same quarter last year, with earnings per share of $0.03, beating analyst expectations by $0.10.

Torray Investment Partners LLC bought a new position in Bloom Energy Corporation (NYSE:BE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 45,969 shares of the company's stock, valued at approximately $904,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Quarry LP acquired a new stake in Bloom Energy during the 4th quarter worth $35,000. ORG Wealth Partners LLC acquired a new stake in Bloom Energy during the 1st quarter worth $41,000. Gordian Capital Singapore Pte Ltd acquired a new stake in Bloom Energy during the 4th quarter worth $49,000. Nisa Investment Advisors LLC grew its holdings in Bloom Energy by 47.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,373 shares of the company's stock worth $66,000 after acquiring an additional 1,081 shares during the period. Finally, CWM LLC grew its holdings in Bloom Energy by 23.7% during the 1st quarter. CWM LLC now owns 3,360 shares of the company's stock worth $66,000 after acquiring an additional 644 shares during the period. 77.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on BE. Mizuho lifted their target price on shares of Bloom Energy from $26.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Wells Fargo & Company boosted their target price on Bloom Energy from $22.00 to $38.00 and gave the company an "equal weight" rating in a research note on Friday. Hsbc Global Res raised Bloom Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Redburn Atlantic cut Bloom Energy from a "neutral" rating to a "sell" rating and decreased their target price for the company from $14.50 to $10.00 in a research note on Wednesday, April 9th. Finally, Roth Capital boosted their target price on Bloom Energy from $20.00 to $25.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $26.39.

Bloom Energy Stock Performance

Shares of BE stock traded down $0.55 during trading on Friday, reaching $36.84. 17,494,831 shares of the company's stock were exchanged, compared to its average volume of 11,077,698. The company has a quick ratio of 2.39, a current ratio of 3.44 and a debt-to-equity ratio of 2.07. The stock has a market capitalization of $8.56 billion, a PE ratio of 921.23 and a beta of 3.28. Bloom Energy Corporation has a twelve month low of $9.02 and a twelve month high of $39.09. The firm's fifty day moving average price is $24.52 and its 200-day moving average price is $22.47.

Bloom Energy (NYSE:BE - Get Free Report) last announced its earnings results 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 analysts' expectations of $382.23 million. Bloom Energy had a net margin of 1.45% and a return on equity of 7.03%. The business's revenue for the quarter was up 19.5% on a year-over-year basis. During the same period last year, the firm earned ($0.06) earnings per share. As a group, sell-side analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insiders Place Their Bets

In related news, insider Satish Chitoori sold 2,038 shares of Bloom Energy stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $19.73, for a total value of $40,209.74. Following the transaction, the insider directly owned 176,618 shares of the company's stock, valued at $3,484,673.14. This trade represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Shawn Marie Soderberg sold 2,780 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total transaction of $54,821.60. Following the completion of the sale, the insider owned 152,890 shares in the company, valued at $3,014,990.80. This represents a 1.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,513 shares of company stock valued at $1,261,765 over the last three months. 3.60% of the stock is owned by corporate insiders.

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.