EFG Asset Management North America Corp. Acquires New Holdings in Bloom Energy Corporation $BE

EFG Asset Management North America Corp. purchased a new stake in Bloom Energy Corporation (NYSE:BE) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 8,596 shares of the company’s stock, valued at approximately $728,000.

Several other institutional investors have also recently made changes to their positions in the company. N.E.W. Advisory Services LLC purchased a new stake in shares of Bloom Energy in the third quarter worth $32,000. Parkside Financial Bank & Trust increased its stake in Bloom Energy by 250.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock worth $33,000 after acquiring an additional 281 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of Bloom Energy in the 2nd quarter valued at about $36,000. NewEdge Advisors LLC boosted its position in shares of Bloom Energy by 674.7% during the 1st quarter. NewEdge Advisors LLC now owns 1,867 shares of the company’s stock valued at $37,000 after acquiring an additional 1,626 shares during the last quarter. Finally, Cranbrook Wealth Management LLC purchased a new position in shares of Bloom Energy during the third quarter worth about $39,000. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Stock Performance

NYSE BE opened at $151.99 on Wednesday. The company has a 50-day simple moving average of $109.89 and a two-hundred day simple moving average of $86.14. Bloom Energy Corporation has a 12-month low of $15.15 and a 12-month high of $155.87. The firm has a market cap of $35.95 billion, a price-to-earnings ratio of 775.67, a PEG ratio of 11.76 and a beta of 3.01. The company has a quick ratio of 2.88, a current ratio of 4.40 and a debt-to-equity ratio of 1.98.

Bloom Energy (NYSE:BE) last released its earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share 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 analyst estimates of $425.18 million. During the same quarter in the previous year, the company posted ($0.01) EPS. Bloom Energy’s revenue for the quarter was up 57.1% on a year-over-year basis. On average, equities analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on BE. Hsbc Global Res raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. Robert W. Baird set a $172.00 price objective on shares of Bloom Energy in a report on Tuesday. Evercore ISI reissued an “outperform” rating on shares of Bloom Energy in a research note on Thursday, January 8th. Bank of America raised their price target on Bloom Energy from $26.00 to $39.00 and gave the company an “underperform” rating in a research report on Tuesday, November 25th. Finally, Truist Financial set a $68.00 price objective on Bloom Energy in a report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $103.14.

Insider Transactions at Bloom Energy

In other news, insider Satish Chitoori sold 431 shares of the stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $88.12, for a total transaction of $37,979.72. Following the completion of the sale, the insider owned 229,449 shares of the company’s stock, valued at approximately $20,219,045.88. This represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jim H. Snabe sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $143.04, for a total transaction of $2,860,800.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 120,410 shares of company stock valued at $16,557,185. Insiders own 3.50% of the company’s stock.

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.