Flputnam Investment Management Co. Takes Position in Bloom Energy Corporation $BE

Flputnam Investment Management Co. acquired a new stake in shares of Bloom Energy Corporation (NYSE:BE) during the third quarter, HoldingsChannel reports. The fund acquired 9,455 shares of the company’s stock, valued at approximately $800,000.

A number of other large investors have also added to or reduced their stakes in BE. Prospera Financial Services Inc raised its stake in Bloom Energy by 0.3% during the 2nd quarter. Prospera Financial Services Inc now owns 95,532 shares of the company’s stock valued at $2,285,000 after buying an additional 313 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Bloom Energy by 14.1% in the third quarter. GAMMA Investing LLC now owns 2,708 shares of the company’s stock worth $229,000 after acquiring an additional 335 shares during the period. Ameritas Investment Partners Inc. increased its position in Bloom Energy by 2.1% during the second quarter. Ameritas Investment Partners Inc. now owns 20,917 shares of the company’s stock valued at $500,000 after acquiring an additional 425 shares during the last quarter. Blair William & Co. IL lifted its holdings in Bloom Energy by 2.8% in the second quarter. Blair William & Co. IL now owns 16,246 shares of the company’s stock valued at $389,000 after acquiring an additional 437 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its holdings in Bloom Energy by 2.5% in the second quarter. Steward Partners Investment Advisory LLC now owns 26,949 shares of the company’s stock valued at $645,000 after acquiring an additional 658 shares during the period. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Price Performance

NYSE BE opened at $92.03 on Tuesday. The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98. Bloom Energy Corporation has a 12 month low of $15.15 and a 12 month high of $147.86. The stock has a market cap of $21.76 billion, a price-to-earnings ratio of 493.44, a PEG ratio of 56.10 and a beta of 3.00. The company’s 50 day moving average is $109.54 and its two-hundred day moving average is $68.43.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. The firm had revenue of $519.05 million during the quarter, compared to analysts’ expectations of $425.18 million. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The company’s revenue for the quarter was up 57.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.01) earnings per share. As a group, research analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Aman Joshi sold 4,543 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $109.13, for a total value of $495,777.59. Following the completion of the transaction, the insider owned 219,818 shares of the company’s stock, valued at $23,988,738.34. This represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Maciej Kurzymski sold 3,264 shares of the stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $86.48, for a total value of $282,270.72. Following the sale, the insider owned 90,005 shares of the company’s stock, valued at $7,783,632.40. This represents a 3.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 120,410 shares of company stock worth $16,557,185 in the last three months. 3.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BE. Daiwa Capital Markets set a $98.00 price target on Bloom Energy in a research note on Tuesday, December 2nd. Cowen restated a “hold” rating on shares of Bloom Energy in a research report on Wednesday, October 29th. TD Cowen increased their price target on shares of Bloom Energy to $105.00 and gave the stock a “hold” rating in a research report on Wednesday, October 29th. Zacks Research cut shares of Bloom Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Finally, BMO Capital Markets set a $136.00 price objective on shares of Bloom Energy in a research report on Wednesday, October 29th. One equities research 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 given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $93.77.

Bloom Energy Profile

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.