Rhumbline Advisers Buys 21,199 Shares of Bloom Energy Corporation $BE

Rhumbline Advisers boosted its position in Bloom Energy Corporation (NYSE:BE) by 7.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 319,482 shares of the company’s stock after purchasing an additional 21,199 shares during the quarter. Rhumbline Advisers owned approximately 0.14% of Bloom Energy worth $7,642,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, Director Jim H. Snabe sold 20,000 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $143.04, for a total value of $2,860,800.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Maciej Kurzymski sold 13,105 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $144.09, for a total value of $1,888,299.45. Following the completion of the transaction, the insider owned 93,269 shares in the company, valued at $13,439,130.21. This represents a 12.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 119,589 shares of company stock worth $16,439,742. 3.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

BE has been the subject of a number of research analyst reports. Jefferies Financial Group reiterated an “underperform” rating and set a $53.00 price objective on shares of Bloom Energy in a research note on Friday, October 31st. BTIG Research lifted their price target on Bloom Energy to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Bank of America boosted their price target on Bloom Energy from $26.00 to $39.00 and gave the company an “underperform” rating in a research note on Tuesday, November 25th. JPMorgan Chase & Co. raised their price objective on Bloom Energy to $129.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Finally, TD Cowen lifted their target price on Bloom Energy to $105.00 and gave the stock a “hold” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Bloom Energy presently has an average rating of “Hold” and a consensus target price of $93.77.

Bloom Energy Stock Up 6.5%

Bloom Energy stock opened at $105.36 on Wednesday. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 2.88. The stock has a market capitalization of $24.92 billion, a PE ratio of 549.61, a price-to-earnings-growth ratio of 62.48 and a beta of 3.00. The business has a 50 day simple moving average of $105.50 and a 200-day simple moving average of $60.60. Bloom Energy Corporation has a 12 month low of $15.15 and a 12 month high of $147.86.

Bloom Energy (NYSE:BE) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.07. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The firm had revenue of $519.05 million during the quarter, compared to the consensus estimate of $425.18 million. During the same quarter in the prior year, the firm earned ($0.01) EPS. The company’s revenue for the quarter was up 57.1% on a year-over-year basis. On average, analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current fiscal 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.