Essex LLC Acquires Shares of 4,743 Bloom Energy Corporation $BE

Essex LLC acquired a new stake in Bloom Energy Corporation (NYSE:BE) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,743 shares of the company’s stock, valued at approximately $401,000.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Bloom Energy during the 2nd quarter worth $57,821,000. Man Group plc raised its holdings in shares of Bloom Energy by 177.4% in the second quarter. Man Group plc now owns 2,392,915 shares of the company’s stock valued at $57,239,000 after buying an additional 1,530,167 shares during the last quarter. Goldman Sachs Group Inc. boosted 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 worth $49,127,000 after buying an additional 836,810 shares during the period. Qube Research & Technologies Ltd acquired a new stake in shares of Bloom Energy during the second quarter worth about $18,808,000. Finally, Eschler Asset Management LLP purchased a new position in shares of Bloom Energy during the second quarter worth about $15,735,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BE has been the subject of several analyst reports. TD Cowen upped their price objective on Bloom Energy to $105.00 and gave the company a “hold” rating in a research note on Wednesday, October 29th. Wedbush set a $39.00 target price on Bloom Energy in a report on Tuesday, November 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bloom Energy in a report on Thursday, October 30th. Roth Capital reiterated a “neutral” rating and issued a $103.00 price objective on shares of Bloom Energy in a research report on Wednesday, October 29th. Finally, Morgan Stanley upped their price objective on shares of Bloom Energy to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $93.77.

Bloom Energy Trading Up 12.8%

Shares of BE stock opened at $121.87 on Friday. The business’s fifty day moving average price is $105.32 and its 200 day moving average price is $74.48. The firm has a market capitalization of $28.82 billion, a PE ratio of 572.50, a P/E/G ratio of 9.09 and a beta of 3.01. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 2.88. Bloom Energy Corporation has a 1-year low of $15.15 and a 1-year high of $147.86.

Bloom Energy (NYSE:BE) last released its earnings results 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 return on equity of 8.74% and a net margin of 0.84%.The company had revenue of $519.05 million during the quarter, compared to the consensus estimate of $425.18 million. During the same quarter last year, the company earned ($0.01) earnings per share. Bloom Energy’s quarterly revenue was up 57.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Shawn Marie Soderberg sold 36,666 shares of Bloom Energy stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $141.00, for a total transaction of $5,169,906.00. Following the completion of the sale, the insider directly owned 225,949 shares in the company, valued at approximately $31,858,809. This trade represents a 13.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary K. Bush sold 36,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $142.82, for a total value of $5,141,520.00. Following the sale, the director directly owned 133,524 shares in the company, valued at $19,069,897.68. This trade represents a 21.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 120,410 shares of company stock valued at $16,557,185 in the last 90 days. 3.60% of the stock is owned by corporate insiders.

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.