Vanguard Group Inc. Sells 57,904 Shares of Bloom Energy Corporation $BE

Key Points

• Vanguard Group Inc. has decreased its stake in Bloom Energy Corporation by 0.3%, now owning approximately 19.18 million shares valued at $377 million.
• Bloom Energy reported a quarterly revenue of $401.24 million, exceeding analysts' expectations, and marked a 19.5% increase year-over-year.
• Analysts have varied ratings on Bloom Energy's stock, with a consensus rating of "Moderate Buy" and an average price target of $26.39, reflecting the mixed sentiment among investors.

Vanguard Group Inc. lowered its position in Bloom Energy Corporation (NYSE:BE - Free Report) by 0.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,176,425 shares of the company's stock after selling 57,904 shares during the period. Vanguard Group Inc. owned 8.32% of Bloom Energy worth $377,009,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. 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. Xponance Inc. grew its holdings in Bloom Energy by 6.4% during the 1st quarter. Xponance Inc. now owns 15,484 shares of the company's stock worth $304,000 after acquiring an additional 935 shares during the period. Mackenzie Financial Corp grew its holdings in Bloom Energy by 1.7% during the 4th quarter. Mackenzie Financial Corp now owns 63,372 shares of the company's stock worth $1,407,000 after acquiring an additional 1,035 shares during the period. 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, PNC Financial Services Group Inc. grew its holdings in Bloom Energy by 11.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 12,611 shares of the company's stock worth $248,000 after acquiring an additional 1,273 shares during the period. Institutional investors own 77.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BE shares. Roth Capital lifted their target price on shares of Bloom Energy from $20.00 to $25.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Wells Fargo & Company lifted their target price on shares of Bloom Energy from $22.00 to $38.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Piper Sandler decreased their price target on shares of Bloom Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Mizuho boosted their price target 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. Finally, UBS Group upped their target price on shares of Bloom Energy from $29.00 to $41.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.39.

Bloom Energy Stock Performance

Shares of NYSE:BE traded down $0.09 on Wednesday, reaching $43.01. 5,382,209 shares of the company's stock were exchanged, compared to its average volume of 7,295,137. The company has a fifty day moving average of $29.49 and a 200-day moving average of $23.83. Bloom Energy Corporation has a twelve month low of $9.02 and a twelve month high of $47.21. The company has a market capitalization of $10.06 billion, a price-to-earnings ratio of 1,075.52 and a beta of 3.28. The company has a current ratio of 4.99, a quick ratio of 3.21 and a debt-to-equity ratio of 2.18.

Bloom Energy (NYSE:BE - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.10 earnings per share (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 firm had revenue of $401.24 million for the quarter, compared to analyst estimates of $382.23 million. During the same quarter in the prior year, the business posted ($0.06) EPS. The business's revenue was up 19.5% compared to the same quarter last year. Bloom Energy has set its FY 2025 guidance at EPS. On average, research analysts predict that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Insider Activity

In related news, insider Maciej Kurzymski sold 1,012 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $25.27, for a total value of $25,573.24. Following the completion of the transaction, the insider owned 108,848 shares of the company's stock, valued at $2,750,588.96. This represents a 0.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Aman Joshi sold 4,870 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $43.36, for a total transaction of $211,163.20. Following the completion of the transaction, the insider directly owned 224,361 shares of the company's stock, valued at approximately $9,728,292.96. The trade was a 2.12% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,057 shares of company stock worth $3,512,484. Insiders own 3.50% of the company's stock.

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.