Rhumbline Advisers Has $5.86 Million Stock Holdings in Bloom Energy Corporation $BE

Rhumbline Advisers increased its stake in shares of Bloom Energy Corporation (NYSE:BE) by 2.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 298,283 shares of the company’s stock after purchasing an additional 8,212 shares during the quarter. Rhumbline Advisers owned approximately 0.13% of Bloom Energy worth $5,864,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BE. Advisors Asset Management Inc. grew its holdings in Bloom Energy by 43.0% during the 1st quarter. Advisors Asset Management Inc. now owns 86,665 shares of the company’s stock worth $1,704,000 after acquiring an additional 26,077 shares during the last quarter. Sender Co & Partners Inc. bought a new stake in Bloom Energy during the 4th quarter worth approximately $283,000. Select Equity Group L.P. grew its holdings in Bloom Energy by 125.5% during the 4th quarter. Select Equity Group L.P. now owns 278,515 shares of the company’s stock worth $6,186,000 after acquiring an additional 154,993 shares during the last quarter. SIR Capital Management L.P. grew its holdings in Bloom Energy by 155.1% during the 4th quarter. SIR Capital Management L.P. now owns 572,798 shares of the company’s stock worth $12,722,000 after acquiring an additional 348,279 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Bloom Energy by 634.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 598,327 shares of the company’s stock worth $11,763,000 after acquiring an additional 516,833 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Stock Down 0.2%

Bloom Energy stock opened at $67.13 on Friday. The company has a quick ratio of 3.21, a current ratio of 4.99 and a debt-to-equity ratio of 2.18. Bloom Energy Corporation has a 12-month low of $9.02 and a 12-month high of $68.74. The firm’s fifty day moving average is $40.82 and its 200 day moving average is $27.49. The company has a market capitalization of $15.71 billion, a PE ratio of 1,678.67 and a beta of 3.28.

Bloom Energy (NYSE:BE) last released its earnings results on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.08. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The company had revenue of $401.24 million for the quarter, compared to the consensus estimate of $382.23 million. During the same quarter in the previous year, the company earned ($0.06) EPS. Bloom Energy’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, sell-side analysts predict that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Insider Activity at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 45,000 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $43.31, for a total transaction of $1,948,950.00. Following the transaction, the insider owned 229,682 shares in the company, valued at $9,947,527.42. The trade was a 16.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kr Sridhar sold 60,000 shares of the company’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $49.70, for a total transaction of $2,982,000.00. Following the transaction, the chief executive officer owned 2,368,951 shares in the company, valued at approximately $117,736,864.70. The trade was a 2.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 308,477 shares of company stock worth $14,924,815 over the last ninety days. 3.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of Bloom Energy from $45.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Morgan Stanley boosted their target price on shares of Bloom Energy from $35.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. UBS Group boosted their target price on shares of Bloom Energy from $29.00 to $41.00 and gave the stock a “buy” rating in a report on Friday, July 25th. JPMorgan Chase & Co. raised shares of Bloom Energy from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $18.00 to $33.00 in a research note on Wednesday, July 9th. Finally, Roth Capital upped their price objective on shares of Bloom Energy from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Bloom Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.61.

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.