Bloom Energy Corporation $BE Stock Acquired by Torray Investment Partners LLC

Torray Investment Partners LLC grew its position in shares of Bloom Energy Corporation (NYSE:BE) by 9.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,702 shares of the company’s stock after purchasing an additional 5,137 shares during the quarter. Bloom Energy makes up about 2.1% of Torray Investment Partners LLC’s portfolio, making the stock its 23rd biggest holding. Torray Investment Partners LLC’s holdings in Bloom Energy were worth $15,982,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BE. Montanova Capital LLC purchased a new stake in shares of Bloom Energy during the 2nd quarter worth about $10,231,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Bloom Energy by 78.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,327,549 shares of the company’s stock valued at $401,849,000 after acquiring an additional 583,135 shares during the period. Militia Capital Management LLC acquired a new stake in shares of Bloom Energy during the 1st quarter valued at about $813,000. Assenagon Asset Management S.A. increased its stake in shares of Bloom Energy by 3,398.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 239,877 shares of the company’s stock valued at $72,611,000 after purchasing an additional 233,020 shares in the last quarter. Finally, Zweig DiMenna Associates LLC purchased a new position in shares of Bloom Energy in the 1st quarter valued at about $8,468,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy News Summary

Here are the key news stories impacting Bloom Energy this week:

• Positive Sentiment: Bloom and California Resources Corporation, including its Carbon TerraVault business, signed a non-binding MOU to evaluate at least 1 gigawatt of Bloom solid-oxide fuel-cell power paired with carbon capture and storage. The proposed projects could serve utilities, data centers and industrial customers, opening a sizable commercial opportunity. California Resources Corporation Announces Strategic Collaboration with Bloom Energy
• Positive Sentiment: Barclays upgraded Bloom to Overweight from Equal Weight, citing prospects for firm, on-site power, including demand from AI data centers. The analyst’s $289 price target still implies substantial potential upside from the price cited in the coverage, although it was reduced from $316. Bloom Energy Stock Upgrade Points to Staying Power for AI Data Centers
• Positive Sentiment: Recent operating results provide support for the growth story: Bloom reported third-quarter revenue of $1.24 billion, up 138% year over year, and raised its full-year revenue guidance to $4.4 billion–$4.6 billion. Why Did Bloom Energy Stock Jump Today?
• Neutral Sentiment: Director John Chambers sold 8,828 shares for about $1.8 million, reducing his stake by 4.24%; he still owned 199,505 shares after the transaction. SEC ownership filing
• Negative Sentiment: The California initiative remains an evaluation-stage, non-binding MOU, so the proposed capacity is not yet a firm order. Bloom’s elevated valuation also leaves the shares vulnerable if projects are delayed or fail to convert into revenue-generating contracts.

Bloom Energy Stock Up 9.1%

BE opened at $214.05 on Wednesday. Bloom Energy Corporation has a twelve month low of $75.70 and a twelve month high of $351.28. The company has a quick ratio of 3.08, a current ratio of 3.74 and a debt-to-equity ratio of 1.33. The company has a 50-day moving average price of $248.26 and a 200 day moving average price of $220.48. The company has a market cap of $63.28 billion, a PE ratio of 131.32, a price-to-earnings-growth ratio of 1.98 and a beta of 3.63.

Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.25. Bloom Energy had a net margin of 13.53% and a return on equity of 45.29%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the company posted $0.15 EPS. Bloom Energy’s quarterly revenue was up 138.1% compared to the same quarter last year. Sell-side analysts expect that Bloom Energy Corporation will post 2.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on BE. Robert W. Baird upped their price target on Bloom Energy from $310.00 to $351.00 and gave the stock an “outperform” rating in a report on Thursday, October 15th. Susquehanna raised their price objective on Bloom Energy from $293.00 to $298.00 and gave the company a “positive” rating in a report on Friday, July 10th. BMO Capital Markets cut Bloom Energy from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $335.00 target price on shares of Bloom Energy in a research note on Friday, October 23rd. Finally, Wells Fargo & Company increased their target price on Bloom Energy from $176.00 to $182.00 and gave the company an “equal weight” rating in a research report on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Bloom Energy currently has an average rating of “Hold” and an average target price of $263.05.

Insider Buying and Selling at Bloom Energy

In other news, Director Jeffrey R. Immelt sold 30,000 shares of Bloom Energy stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $238.91, for a total value of $7,167,300.00. Following the sale, the director directly owned 201,243 shares of the company’s stock, valued at $48,078,965.13. The trade was a 12.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Aman Joshi sold 8,437 shares of Bloom Energy stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $277.17, for a total value of $2,338,483.29. Following the completion of the sale, the insider directly owned 147,092 shares in the company, valued at $40,769,489.64. This represents a 5.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 83,526 shares of company stock valued at $20,492,938. 3.00% of the stock is owned by insiders.

Bloom Energy Profile

Bloom Energy Corporation develops and manufactures energy systems designed to generate electricity on-site. Its primary product is the Bloom Energy Server, a solid oxide fuel cell platform that converts fuel into electricity through an electrochemical process rather than combustion. The systems are used by businesses, utilities, data centers and other organizations seeking reliable, distributed power.

The company also develops electrolyzers based on its solid oxide technology. These systems are designed to produce hydrogen from electricity and water and support applications related to industrial operations, energy storage and the emerging hydrogen economy.