JT Stratford LLC Takes Position in Bloom Energy Corporation $BE

JT Stratford LLC acquired a new position in Bloom Energy Corporation (NYSE:BE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,185 shares of the company’s stock, valued at approximately $722,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Banque Transatlantique SA grew its position in Bloom Energy by 227.6% in the first quarter. Banque Transatlantique SA now owns 1,671 shares of the company’s stock worth $30,000 after acquiring an additional 1,161 shares in the last quarter. Harbour Investments Inc. lifted its stake 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 valued at $31,000 after purchasing an additional 1,512 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in Bloom Energy in the second quarter worth $36,000. NewEdge Advisors LLC increased 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 buying an additional 1,626 shares during the last quarter. Finally, IFP Advisors Inc raised its holdings in 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 buying an additional 1,951 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Price Performance

Shares of Bloom Energy stock opened at $102.57 on Thursday. 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 company has a market cap of $24.26 billion, a PE ratio of 583.33, a price-to-earnings-growth ratio of 66.32 and a beta of 3.00. The firm has a fifty day moving average price of $106.17 and a two-hundred day moving average price of $60.89. Bloom Energy Corporation has a fifty-two week low of $15.15 and a fifty-two week high of $147.86.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, beating 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 $519.05 million during the quarter, compared to analyst estimates of $425.18 million. During the same quarter in the prior year, the business earned ($0.01) earnings per share. The firm’s revenue for the quarter was up 57.1% on a year-over-year basis. Analysts expect that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Maciej Kurzymski sold 13,105 shares of Bloom Energy stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $144.09, for a total transaction of $1,888,299.45. Following the sale, the insider owned 93,269 shares in the company, valued at $13,439,130.21. The trade was a 12.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Shawn Marie Soderberg sold 1,583 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $105.97, for a total transaction of $167,750.51. Following the completion of the sale, the insider directly owned 221,633 shares in the company, valued at $23,486,449.01. This trade represents a 0.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 119,589 shares of company stock worth $16,439,742 in the last three months. Company insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

BE has been the subject of several recent analyst reports. Morgan Stanley upped their price target on Bloom Energy to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Roth Capital reaffirmed a “neutral” rating and set a $103.00 target price on shares of Bloom Energy in a research report on Wednesday, October 29th. Daiwa Capital Markets set a $98.00 price target on shares of Bloom Energy in a research report on Tuesday. 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. Finally, BMO Capital Markets set a $136.00 target price on shares of Bloom Energy in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $93.77.

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.