Trexquant Investment LP Grows Holdings in Bloom Energy Corporation $BE

Key Points

• Trexquant Investment LP increased its stake in Bloom Energy by 67.0% during the first quarter, holding 978,477 shares valued at approximately $19.2 million.
• Multiple hedge funds, including Harbour Investments and Quarry LP, significantly increased their positions in Bloom Energy, contributing to a total institutional ownership of 77.04%.
• Bloom Energy reported a quarterly earnings per share (EPS) of $0.10, exceeding analysts' expectations and marking a 19.5% year-over-year revenue increase to $401.24 million.

Trexquant Investment LP boosted its stake in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 67.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 978,477 shares of the company's stock after purchasing an additional 392,721 shares during the period. Trexquant Investment LP owned approximately 0.42% of Bloom Energy worth $19,237,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Sender Co & Partners Inc. purchased a new stake in Bloom Energy during the 4th quarter worth approximately $283,000. Select Equity Group L.P. grew its position in Bloom Energy by 125.5% during the 4th quarter. Select Equity Group L.P. now owns 278,515 shares of the company's stock worth $6,186,000 after purchasing an additional 154,993 shares during the last quarter. SIR Capital Management L.P. boosted its holdings in shares of Bloom Energy by 155.1% in the 4th quarter. SIR Capital Management L.P. now owns 572,798 shares of the company's stock valued at $12,722,000 after acquiring an additional 348,279 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Bloom Energy by 634.2% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 598,327 shares of the company's stock valued at $11,763,000 after acquiring an additional 516,833 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Bloom Energy by 662.4% in the 1st quarter. Teacher Retirement System of Texas now owns 73,518 shares of the company's stock valued at $1,445,000 after acquiring an additional 63,875 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company's stock.

Insider Buying and Selling

In related news, CEO Kr Sridhar sold 60,000 shares of Bloom Energy stock in a transaction that occurred 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. The trade was a 2.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Satish Chitoori sold 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $45.00, for a total transaction of $900,000.00. Following the sale, the insider directly 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 have sold 308,477 shares of company stock valued at $14,924,815 over the last ninety days. 3.60% of the stock is currently owned by corporate insiders.

Bloom Energy Price Performance

NYSE:BE traded down $1.80 during trading hours on Monday, reaching $53.00. 10,193,037 shares of the company were exchanged, compared to its average volume of 10,662,528. 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 stock's 50-day moving average is $33.89 and its 200-day moving average is $25.24. The firm has a market cap of $12.40 billion, a PE ratio of 1,325.33 and a beta of 3.28. Bloom Energy Corporation has a twelve month low of $9.02 and a twelve month high of $55.07.

Bloom Energy (NYSE:BE - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, beating 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 during the quarter, compared to analysts' expectations of $382.23 million. During the same period in the prior year, the business earned ($0.06) earnings per share. The company's quarterly revenue was up 19.5% compared to the same quarter last year. Bloom Energy has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BE has been the topic of several recent research reports. Roth Capital upped their price objective on shares of Bloom Energy from $20.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Susquehanna upped their price objective on shares of Bloom Energy from $26.00 to $30.00 and gave the company a "positive" rating in a report on Monday, July 21st. JPMorgan Chase & Co. raised shares of Bloom Energy from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $18.00 to $33.00 in a report on Wednesday, July 9th. UBS Group upped their price objective on shares of Bloom Energy from $29.00 to $41.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, Mizuho upped their price objective on shares of Bloom Energy from $26.00 to $31.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $26.39.

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.