DekaBank Deutsche Girozentrale Boosts Stake in Bloom Energy Corporation $BE

DekaBank Deutsche Girozentrale grew its position in shares of Bloom Energy Corporation (NYSE:BE) by 27.5% during the second quarter, Holdings Channel reports. The fund owned 643,397 shares of the company’s stock after purchasing an additional 138,806 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Bloom Energy were worth $14,725,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Banque Transatlantique SA grew its holdings in shares of Bloom Energy by 227.6% during the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company’s stock worth $30,000 after acquiring an additional 1,161 shares during the period. Harbour Investments Inc. grew its holdings in shares of Bloom Energy by 2,160.0% during the 1st quarter. Harbour Investments Inc. now owns 1,582 shares of the company’s stock worth $31,000 after acquiring an additional 1,512 shares during the period. NewEdge Advisors LLC grew its stake in shares of Bloom Energy by 674.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,867 shares of the company’s stock worth $37,000 after buying an additional 1,626 shares during the last quarter. Vision Financial Markets LLC purchased a new stake in shares of Bloom Energy in the 1st quarter worth approximately $39,000. Finally, IFP Advisors Inc grew its stake in shares of Bloom Energy by 1,560.8% in the 2nd quarter. IFP Advisors Inc now owns 2,076 shares of the company’s stock worth $50,000 after buying an additional 1,951 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BE. Jefferies Financial Group downgraded Bloom Energy from a “hold” rating to an “underperform” rating and upped their price target for the stock from $24.00 to $31.00 in a research note on Wednesday, September 24th. UBS Group upped their price target on Bloom Energy to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Roth Capital upped their price target on Bloom Energy from $34.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, September 19th. Bank of America upped their price target on Bloom Energy from $24.00 to $26.00 and gave the stock an “underperform” rating in a research note on Monday. Finally, Evercore ISI restated an “outperform” rating on shares of Bloom Energy in a research note on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Bloom Energy currently has a consensus rating of “Hold” and a consensus target price of $65.70.

Insider Buying and Selling at Bloom Energy

In other news, insider Satish Chitoori sold 400 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $71.16, for a total value of $28,464.00. Following the transaction, the insider directly owned 231,965 shares in the company, valued at $16,506,629.40. This trade represents a 0.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Kr Sridhar sold 37,955 shares of the firm’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $53.39, for a total value of $2,026,417.45. Following the completion of the transaction, the chief executive officer owned 2,378,663 shares in the company, valued at approximately $126,996,817.57. This trade represents a 1.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 301,193 shares of company stock worth $14,893,710. Insiders own 3.60% of the company’s stock.

Bloom Energy Stock Performance

Shares of BE opened at $101.56 on Friday. The business’s fifty day simple moving average is $74.04 and its two-hundred day simple moving average is $40.89. 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 12 month low of $9.05 and a 12 month high of $125.75. The company has a market cap of $23.76 billion, a price-to-earnings ratio of 2,539.61, a P/E/G ratio of 149.69 and a beta of 3.48.

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

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.