Candriam S.C.A. Acquires 196,376 Shares of Bloom Energy Corporation $BE

Candriam S.C.A. boosted its holdings in shares of Bloom Energy Corporation (NYSE:BE) by 59.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 525,812 shares of the company’s stock after acquiring an additional 196,376 shares during the quarter. Candriam S.C.A.’s holdings in Bloom Energy were worth $12,578,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbour Investments Inc. raised its stake in shares of 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 acquiring an additional 1,512 shares during the last quarter. Banque Transatlantique SA increased its holdings 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 purchasing an additional 1,161 shares during the period. NewEdge Advisors LLC raised its position in Bloom Energy by 674.7% during the 1st 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 last quarter. Vision Financial Markets LLC bought a new position in Bloom Energy during the 1st quarter worth $39,000. Finally, IFP Advisors Inc lifted its holdings in Bloom Energy by 1,560.8% during 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 period. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Maciej Kurzymski sold 13,105 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $144.09, for a total transaction of $1,888,299.45. Following the transaction, the insider directly owned 93,269 shares of the company’s stock, valued at approximately $13,439,130.21. This represents a 12.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shawn Marie Soderberg sold 36,666 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $141.00, for a total value of $5,169,906.00. Following the completion of the transaction, the insider owned 225,949 shares in the company, valued at approximately $31,858,809. The trade was a 13.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 332,065 shares of company stock worth $26,675,662 over the last three months. Insiders own 3.60% of the company’s stock.

Bloom Energy Stock Down 18.6%

Bloom Energy stock opened at $103.13 on Friday. The company has a market capitalization of $24.39 billion, a PE ratio of 704.00, a PEG ratio of 71.41 and a beta of 3.43. Bloom Energy Corporation has a 12-month low of $12.78 and a 12-month high of $147.86. The firm’s fifty day moving average is $97.32 and its 200 day moving average is $52.47. 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 (NYSE:BE) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The business had revenue of $508.69 million during the quarter, compared to analysts’ expectations of $425.18 million. During the same period last year, the company posted ($0.01) earnings per share. The business’s quarterly revenue was up 57.1% on a year-over-year basis. As a group, sell-side analysts predict that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BE has been the subject of several recent research reports. BTIG Research increased their price target on Bloom Energy to $145.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. UBS Group raised their price target on shares of Bloom Energy to $115.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Evercore ISI reaffirmed an “outperform” rating on shares of Bloom Energy in a research note on Monday, October 13th. Morgan Stanley lifted their target price on shares of Bloom Energy to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Finally, Oppenheimer restated a “market perform” rating on shares of Bloom Energy in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $95.65.

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.