Joule Financial LLC Boosts Holdings in Bloom Energy Corporation $BE

Joule Financial LLC grew its position in Bloom Energy Corporation (NYSE:BE) by 7.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 33,525 shares of the company’s stock after purchasing an additional 2,276 shares during the period. Joule Financial LLC’s holdings in Bloom Energy were worth $802,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BE. Public Investment Fund grew its holdings in Bloom Energy by 16.8% during the 1st quarter. Public Investment Fund now owns 3,803,770 shares of the company’s stock valued at $74,782,000 after purchasing an additional 546,372 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in shares of Bloom Energy by 29.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,611,925 shares of the company’s stock valued at $71,010,000 after buying an additional 821,814 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Bloom Energy by 50.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company’s stock valued at $49,127,000 after buying an additional 836,810 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Bloom Energy by 3.2% in the first quarter. Northern Trust Corp now owns 1,916,535 shares of the company’s stock worth $37,679,000 after buying an additional 60,141 shares during the period. Finally, Tree Line Advisors Hong Kong Ltd. purchased a new stake in shares of Bloom Energy in the first quarter worth approximately $22,609,000. Institutional investors own 77.04% of the company’s stock.

Insider Buying and Selling at Bloom Energy

In other news, insider Satish Chitoori sold 400 shares of Bloom Energy 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 approximately $16,506,629.40. This trade represents a 0.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kr Sridhar sold 37,955 shares of the company’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 sale, the chief executive officer owned 2,378,663 shares of the company’s stock, valued at $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 three months, insiders have sold 302,205 shares of company stock worth $14,919,283. 3.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BE shares. Mizuho cut Bloom Energy from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from $48.00 to $79.00 in a report on Thursday. BTIG Research boosted their target price on shares of Bloom Energy from $42.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, September 29th. Jefferies Financial Group cut shares of 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 report on Wednesday, September 24th. Wells Fargo & Company lifted their price objective on shares of Bloom Energy from $38.00 to $65.00 and gave the company an “equal weight” rating in a report on Friday, September 12th. Finally, Bank of America boosted their price objective on shares of Bloom Energy from $21.00 to $24.00 and gave the company an “underperform” rating in a research report on Tuesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $43.82.

Bloom Energy Stock Up 2.5%

NYSE:BE opened at $90.18 on Monday. The company has a debt-to-equity ratio of 2.18, a current ratio of 4.99 and a quick ratio of 3.21. Bloom Energy Corporation has a 1-year low of $9.02 and a 1-year high of $93.80. The company has a 50-day moving average of $56.53 and a 200 day moving average of $33.34. The firm has a market cap of $21.10 billion, a PE ratio of 2,254.99 and a beta of 3.48.

Bloom Energy (NYSE:BE) last posted its quarterly 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 net margin of 1.45% and a return on equity of 6.80%. The business had revenue of $401.24 million during the quarter, compared to analyst estimates of $382.23 million. During the same quarter in the previous year, the business posted ($0.06) EPS. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. Bloom Energy has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

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.