Elemental Capital Partners LLC Makes New $101.72 Million Investment in Bloom Energy Corporation $BE

Elemental Capital Partners LLC purchased a new stake in shares of Bloom Energy Corporation (NYSE:BE) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,202,792 shares of the company’s stock, valued at approximately $101,720,000. Bloom Energy accounts for 57.5% of Elemental Capital Partners LLC’s holdings, making the stock its largest position.

Several other large investors have also recently modified their holdings of BE. Bayforest Capital Ltd purchased a new stake in Bloom Energy during the 1st quarter valued at about $2,055,000. AQR Capital Management LLC purchased a new stake in shares of Bloom Energy during the first quarter valued at approximately $1,820,000. NewEdge Advisors LLC boosted its stake in shares of Bloom Energy by 674.7% during the first quarter. NewEdge Advisors LLC now owns 1,867 shares of the company’s stock valued at $37,000 after purchasing an additional 1,626 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Bloom Energy by 50.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company’s stock worth $49,127,000 after purchasing an additional 836,810 shares during the last quarter. Finally, Focus Partners Wealth increased its stake in shares of Bloom Energy by 30.7% in the first quarter. Focus Partners Wealth now owns 20,063 shares of the company’s stock worth $394,000 after buying an additional 4,716 shares during the period. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Bloom Energy Stock Performance

Bloom Energy stock opened at $136.46 on Tuesday. Bloom Energy Corporation has a fifty-two week low of $15.15 and a fifty-two week high of $147.86. The stock’s 50 day simple moving average is $105.23 and its two-hundred day simple moving average is $76.80. The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.88 and a current ratio of 4.40. The stock has a market cap of $32.27 billion, a price-to-earnings ratio of 744.83, a PEG ratio of 11.29 and a beta of 3.01.

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 analysts’ expectations of $425.18 million. During the same quarter last year, the business posted ($0.01) EPS. The firm’s revenue for the quarter was up 57.1% compared to the same quarter last year. As a group, analysts expect that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BE. TD Cowen increased their price target on shares of Bloom Energy to $105.00 and gave the company a “hold” rating in a research report on Wednesday, October 29th. Mizuho set a $89.00 price objective on shares of Bloom Energy in a research note on Wednesday, October 29th. UBS Group boosted their price target on Bloom Energy to $115.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. Morgan Stanley upped their price target on Bloom Energy to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Bloom Energy in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Bloom Energy currently has an average rating of “Hold” and a consensus price target of $96.00.

Insider Buying and Selling at Bloom Energy

In related news, Director Mary K. Bush sold 36,000 shares of Bloom Energy stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $142.82, for a total transaction of $5,141,520.00. Following the completion of the transaction, the director directly owned 133,524 shares of the company’s stock, valued at $19,069,897.68. This trade represents a 21.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $495,777.59. Following the completion of the sale, the insider owned 219,818 shares in the company, valued at approximately $23,988,738.34. This trade represents a 2.02% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 120,410 shares of company stock valued at $16,557,185. Company insiders own 3.50% of the company’s stock.

About Bloom Energy

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.