Allianz Asset Management GmbH Invests $32.37 Million in Bloom Energy Corp (BE) Stock

Allianz Asset Management GmbH bought a new position in shares of Bloom Energy Corp (NYSE:BE) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 949,795 shares of the company’s stock, valued at approximately $32,369,000. Allianz Asset Management GmbH owned 0.90% of Bloom Energy at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Osborn Williams & Donohoe LLC acquired a new stake in shares of Bloom Energy in the 3rd quarter worth approximately $571,000. First Trust Advisors LP acquired a new stake in shares of Bloom Energy in the 3rd quarter worth approximately $2,310,000. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Bloom Energy in the 3rd quarter worth approximately $1,932,000. Victory Capital Management Inc. acquired a new stake in shares of Bloom Energy in the 3rd quarter worth approximately $108,000. Finally, Wells Fargo & Company MN acquired a new stake in shares of Bloom Energy in the 3rd quarter worth approximately $9,454,000. Institutional investors own 8.17% of the company’s stock.

A number of equities research analysts recently weighed in on the company. Zacks Investment Research cut Bloom Energy from a “hold” rating to a “sell” rating in a report on Friday, November 9th. Robert W. Baird assumed coverage on Bloom Energy in a report on Monday, August 20th. They issued a “neutral” rating and a $24.00 price target on the stock. Morgan Stanley assumed coverage on Bloom Energy in a report on Monday, August 20th. They issued an “overweight” rating and a $30.00 price target on the stock. Credit Suisse Group assumed coverage on Bloom Energy in a report on Monday, August 20th. They issued a “neutral” rating and a $24.00 price target on the stock. Finally, Bank of America assumed coverage on Bloom Energy in a report on Monday, August 20th. They issued an “underperform” rating and a $19.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $24.86.

Shares of NYSE:BE opened at $16.45 on Monday. The company has a debt-to-equity ratio of 6.76, a current ratio of 2.57 and a quick ratio of 2.07. Bloom Energy Corp has a one year low of $13.36 and a one year high of $38.00.

Bloom Energy (NYSE:BE) last announced its earnings results on Monday, November 5th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.49). The business had revenue of $190.20 million during the quarter, compared to analysts’ expectations of $185.05 million. The business’s revenue was up 102.8% on a year-over-year basis. Sell-side analysts expect that Bloom Energy Corp will post -2.11 earnings per share for the current year.

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About Bloom Energy

Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems. It offers Bloom Energy Server, a stationary power generation platform that converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion. The company was formerly known as Ion America Corp.

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Institutional Ownership by Quarter for Bloom Energy (NYSE:BE)

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