Bloom Energy Corporation $BE Stake Raised by Neo Ivy Capital Management

Neo Ivy Capital Management boosted its holdings in shares of Bloom Energy Corporation (NYSE:BE) by 182.9% in the second quarter, HoldingsChannel reports. The fund owned 80,555 shares of the company’s stock after buying an additional 52,079 shares during the quarter. Neo Ivy Capital Management’s holdings in Bloom Energy were worth $1,927,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of BE. Banque Transatlantique SA increased its holdings in shares of Bloom Energy by 227.6% in the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company’s stock valued at $30,000 after purchasing an additional 1,161 shares during the period. Harbour Investments Inc. grew its position in Bloom Energy by 2,160.0% during the first quarter. Harbour Investments Inc. now owns 1,582 shares of the company’s stock valued at $31,000 after purchasing an additional 1,512 shares in the last quarter. NewEdge Advisors LLC boosted its position in Bloom Energy by 674.7% during the first quarter. NewEdge Advisors LLC now owns 1,867 shares of the company’s stock worth $37,000 after purchasing an additional 1,626 shares during the period. Vision Financial Markets LLC acquired a new position in Bloom Energy during the first quarter valued at approximately $39,000. Finally, IFP Advisors Inc raised its position in shares of Bloom Energy by 1,560.8% in the second quarter. IFP Advisors Inc now owns 2,076 shares of the company’s stock valued at $50,000 after purchasing an additional 1,951 shares during the period. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Bloom Energy Stock Performance

NYSE:BE opened at $93.37 on Friday. The firm has a market capitalization of $22.08 billion, a PE ratio of 605.17, a price-to-earnings-growth ratio of 61.38 and a beta of 3.43. The company has a quick ratio of 2.88, a current ratio of 4.40 and a debt-to-equity ratio of 1.98. Bloom Energy Corporation has a 12-month low of $15.15 and a 12-month high of $147.86. The firm has a 50-day moving average price of $101.90 and a 200 day moving average price of $55.49.

Bloom Energy (NYSE:BE) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.07. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The company had revenue of $508.69 million for the quarter, compared to analyst estimates of $425.18 million. During the same period in the prior year, the company posted ($0.01) EPS. The company’s revenue was up 57.1% compared to the same quarter last year. Research analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on BE shares. HSBC raised shares of Bloom Energy from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a report on Wednesday, October 29th. UBS Group boosted their target price on shares of Bloom Energy to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Zacks Research downgraded Bloom Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. Royal Bank Of Canada reiterated an “outperform” rating and set a $123.00 price target on shares of Bloom Energy in a report on Monday, October 20th. Finally, JPMorgan Chase & Co. increased their price target on shares of Bloom Energy to $129.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Bloom Energy has a consensus rating of “Hold” and a consensus price target of $95.65.

Insider Activity

In other Bloom Energy news, CEO Kr Sridhar sold 60,000 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $48.97, for a total transaction of $2,938,200.00. Following the sale, the chief executive officer directly owned 2,324,613 shares of the company’s stock, valued at approximately $113,836,298.61. This represents a 2.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary K. Bush sold 36,000 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $142.82, for a total value of $5,141,520.00. Following the sale, the director owned 133,524 shares in the company, valued at $19,069,897.68. The trade was a 21.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 341,544 shares of company stock worth $27,784,169 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

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.