Harbor Capital Advisors Inc. Makes New Investment in Bloom Energy Corporation $BE

Harbor Capital Advisors Inc. bought a new stake in Bloom Energy Corporation (NYSE:BE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 13,083 shares of the company’s stock, valued at approximately $1,106,000.

Several other large investors have also recently made changes to their positions in BE. Norges Bank acquired a new stake in Bloom Energy during the 2nd quarter worth $57,821,000. Man Group plc boosted its position in Bloom Energy by 177.4% during the second quarter. Man Group plc now owns 2,392,915 shares of the company’s stock worth $57,239,000 after acquiring an additional 1,530,167 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in Bloom Energy during the first quarter worth about $21,066,000. Goldman Sachs Group Inc. raised its holdings in Bloom Energy by 50.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company’s stock valued at $49,127,000 after acquiring an additional 836,810 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in Bloom Energy in the 2nd quarter worth approximately $18,808,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Bloom Energy Stock Performance

Shares of Bloom Energy stock opened at $90.26 on Friday. The stock has a market capitalization of $21.35 billion, a price-to-earnings ratio of 510.44, a price-to-earnings-growth ratio of 58.03 and a beta of 3.00. 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 business has a 50-day moving average of $107.69 and a 200 day moving average of $69.71. Bloom Energy Corporation has a 12 month low of $15.15 and a 12 month high of $147.86.

Bloom Energy (NYSE:BE) last issued its earnings results on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $425.18 million. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. The company’s 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 earnings per share for the current year.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, Director Jim H. Snabe sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $143.04, for a total transaction of $2,860,800.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Satish Chitoori sold 431 shares of the company’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $88.12, for a total transaction of $37,979.72. Following the completion of the transaction, the insider owned 229,449 shares of the company’s stock, valued at approximately $20,219,045.88. The trade was a 0.19% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 120,410 shares of company stock worth $16,557,185. 3.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. HSBC upgraded Bloom Energy from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a research report on Wednesday, October 29th. Weiss Ratings restated a “hold (c)” rating on shares of Bloom Energy in a report on Thursday, October 30th. Hsbc Global Res upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 29th. Jefferies Financial Group reissued an “underperform” rating and set a $53.00 price target on shares of Bloom Energy in a research report on Friday, October 31st. Finally, Morgan Stanley lifted their price target on shares of Bloom Energy to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. One 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 issued a Sell rating to the stock. According to data from MarketBeat, Bloom Energy presently has a consensus rating of “Hold” and a consensus 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.