Y Intercept Hong Kong Ltd Buys New Shares in Bloom Energy Corporation $BE

Key Points

• Y Intercept Hong Kong Ltd acquired 411,222 shares of Bloom Energy Corporation, valued at approximately $9,836,000, increasing its ownership to 0.18% of the company.
• Analysts have set new price targets for Bloom Energy, with JPMorgan raising its target from $40.00 to $90.00 and Robert W. Baird increasing theirs from $45.00 to $61.00.
• Insiders at Bloom Energy sold a total of 301,193 shares worth about $14.9 million over the last ninety days, indicating significant insider trading activity.

Y Intercept Hong Kong Ltd acquired a new stake in shares of Bloom Energy Corporation (NYSE:BE - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 411,222 shares of the company's stock, valued at approximately $9,836,000. Y Intercept Hong Kong Ltd owned about 0.18% of Bloom Energy at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BE. Cambridge Investment Research Advisors Inc. grew its stake in shares of Bloom Energy by 54.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 24,669 shares of the company's stock valued at $485,000 after buying an additional 8,743 shares during the last quarter. 3Chopt Investment Partners LLC bought a new position in Bloom Energy during the 1st quarter worth approximately $399,000. Allspring Global Investments Holdings LLC bought a new position in Bloom Energy during the 1st quarter worth approximately $5,848,000. Teacher Retirement System of Texas grew its holdings in shares of Bloom Energy by 662.4% in the first quarter. Teacher Retirement System of Texas now owns 73,518 shares of the company's stock worth $1,445,000 after purchasing an additional 63,875 shares during the last quarter. Finally, Hartline Investment Corp bought a new position in shares of Bloom Energy in the first quarter worth approximately $204,000. 77.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BE shares. JPMorgan Chase & Co. raised their target price on shares of Bloom Energy from $40.00 to $90.00 and gave the stock an "overweight" rating in a report on Thursday, October 2nd. Robert W. Baird raised their price target 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. Jefferies Financial Group cut Bloom Energy from a "hold" rating to an "underperform" rating and raised their target price for the stock from $24.00 to $31.00 in a research note on Wednesday, September 24th. Royal Bank Of Canada reissued an "outperform" rating and issued a $123.00 target price on shares of Bloom Energy in a research note on Monday, October 20th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Bloom Energy in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $65.70.

Insider Activity at Bloom Energy

In related news, insider Satish Chitoori sold 400 shares of Bloom Energy stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $71.16, for a total transaction of $28,464.00. Following the sale, the insider directly owned 231,965 shares in the company, valued at $16,506,629.40. The trade was a 0.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Maciej Kurzymski sold 2,474 shares of the business's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $70.47, for a total value of $174,342.78. Following the completion of the sale, the insider directly owned 106,374 shares in the company, valued at $7,496,175.78. This trade represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 301,193 shares of company stock valued at $14,893,710 over the last ninety days. Insiders own 3.50% of the company's stock.

Bloom Energy Trading Up 8.7%

Shares of BE opened at $110.29 on Monday. The firm's 50-day moving average price is $75.34 and its 200-day moving average price is $41.87. The firm has a market capitalization of $25.81 billion, a price-to-earnings ratio of 2,757.94, a PEG ratio of 175.08 and a beta of 3.48. 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 Corporation has a 1-year low of $9.19 and a 1-year high of $125.75.

Bloom Energy (NYSE:BE - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.08. The business had revenue of $401.24 million for the quarter, compared to analysts' expectations of $382.23 million. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%.The business's revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.06) EPS. Bloom Energy has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current year.

Bloom Energy 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.

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