Bornite Capital Management LP Purchases New Position in Bloom Energy Corporation $BE

Bornite Capital Management LP acquired a new position in Bloom Energy Corporation (NYSE:BE) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 350,000 shares of the company’s stock, valued at approximately $8,372,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Public Investment Fund lifted its holdings in shares of Bloom Energy by 16.8% in the 1st quarter. Public Investment Fund now owns 3,803,770 shares of the company’s stock worth $74,782,000 after buying an additional 546,372 shares during the period. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Bloom Energy by 29.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,611,925 shares of the company’s stock valued at $71,010,000 after acquiring an additional 821,814 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in 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 acquiring an additional 836,810 shares during the period. Northern Trust Corp grew its holdings in Bloom Energy by 3.2% during the 1st quarter. Northern Trust Corp now owns 1,916,535 shares of the company’s stock worth $37,679,000 after acquiring an additional 60,141 shares in the last quarter. Finally, Tree Line Advisors Hong Kong Ltd. bought a new position in Bloom Energy during the 1st quarter worth about $22,609,000. 77.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BE shares. Oppenheimer reaffirmed a “market perform” rating on shares of Bloom Energy in a research report on Wednesday, October 29th. Cowen restated a “hold” rating on shares of Bloom Energy in a report on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Bloom Energy in a report on Thursday, October 30th. JPMorgan Chase & Co. boosted their price target on Bloom Energy to $129.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, Zacks Research cut Bloom Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Bloom Energy has an average rating of “Hold” and an average target price of $95.65.

Insider Buying and Selling

In related news, Director Jim H. Snabe sold 20,000 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $143.04, for a total value of $2,860,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Maciej Kurzymski sold 13,105 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $144.09, for a total transaction of $1,888,299.45. Following the sale, the insider directly owned 93,269 shares in the company, valued at approximately $13,439,130.21. This represents a 12.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 406,964 shares of company stock valued at $29,954,235 in the last 90 days. 3.60% of the stock is owned by insiders.

Bloom Energy Price Performance

NYSE BE opened at $135.71 on Friday. The firm’s fifty day simple moving average is $91.63 and its two-hundred day simple moving average is $49.75. The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98. Bloom Energy Corporation has a 12-month low of $11.02 and a 12-month high of $147.82. The firm has a market capitalization of $31.76 billion, a P/E ratio of 751.17, a P/E/G ratio of 76.19 and a beta of 3.43.

Bloom Energy (NYSE:BE) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.08 by $0.07. The firm had revenue of $519.05 million during the quarter, compared to analyst estimates of $425.18 million. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The business’s revenue for the quarter was up 57.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.01) EPS. Analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

About Bloom Energy

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.