7,116 Shares in Bloom Energy Corporation $BE Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc purchased a new stake in Bloom Energy Corporation (NYSE:BE) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,116 shares of the company’s stock, valued at approximately $602,000.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Bloom Energy by 2.1% in the second quarter. Geode Capital Management LLC now owns 4,756,516 shares of the company’s stock valued at $113,790,000 after acquiring an additional 95,990 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Bloom Energy by 50.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company’s stock valued at $49,127,000 after purchasing an additional 836,810 shares in the last quarter. Norges Bank bought a new position in Bloom Energy in the 2nd quarter valued at $57,821,000. Man Group plc raised its position in Bloom Energy by 177.4% in the 2nd quarter. Man Group plc now owns 2,392,915 shares of the company’s stock valued at $57,239,000 after purchasing an additional 1,530,167 shares during the last quarter. Finally, Elemental Capital Partners LLC acquired a new position in Bloom Energy in the third quarter worth $101,720,000. 77.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BE. Wedbush set a $39.00 target price on Bloom Energy in a research note on Tuesday, November 25th. Oppenheimer reaffirmed a “market perform” rating on shares of Bloom Energy in a research note on Wednesday, October 29th. Wells Fargo & Company increased their price target on shares of Bloom Energy to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 21st. Truist Financial set a $68.00 price target on shares of Bloom Energy in a report on Friday, January 9th. Finally, Barclays assumed coverage on Bloom Energy in a report on Wednesday. They set an “equal weight” rating and a $153.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Bloom Energy currently has a consensus rating of “Hold” and a consensus price target of $109.83.

Bloom Energy Stock Up 8.8%

Shares of NYSE:BE opened at $165.72 on Thursday. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 2.88. The stock has a market cap of $39.19 billion, a price-to-earnings ratio of 846.17, a P/E/G ratio of 12.83 and a beta of 3.01. The company has a 50 day moving average of $111.02 and a 200-day moving average of $86.70. Bloom Energy Corporation has a one year low of $15.15 and a one year high of $167.57.

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, beating analysts’ consensus estimates of $0.08 by $0.07. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The firm had revenue of $519.05 million for the quarter, compared to analysts’ expectations of $425.18 million. During the same period last year, the firm earned ($0.01) earnings per share. The business’s revenue for the quarter was up 57.1% on a year-over-year basis. On average, sell-side analysts forecast that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Maciej Kurzymski sold 13,105 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $144.09, for a total value of $1,888,299.45. Following the transaction, the insider directly owned 93,269 shares in the company, valued at $13,439,130.21. This trade represents a 12.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jim H. Snabe sold 20,000 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $143.04, for a total value of $2,860,800.00. 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 over the last 90 days. 3.50% of the stock is currently owned by corporate insiders.

Bloom Energy Company 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.