L & S Advisors Inc Increases Stake in Bloom Energy Corporation $BE

L & S Advisors Inc raised its holdings in shares of Bloom Energy Corporation (NYSE:BE) by 1.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 108,039 shares of the company’s stock after purchasing an additional 1,449 shares during the quarter. L & S Advisors Inc’s holdings in Bloom Energy were worth $2,584,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of BE. Harbour Investments Inc. raised its holdings in Bloom Energy by 2,160.0% during the 1st quarter. Harbour Investments Inc. now owns 1,582 shares of the company’s stock valued at $31,000 after acquiring an additional 1,512 shares during the period. Banque Transatlantique SA raised its stake in shares of Bloom Energy by 227.6% during the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company’s stock valued at $30,000 after purchasing an additional 1,161 shares during the period. NewEdge Advisors LLC lifted its holdings in Bloom Energy by 674.7% during the 1st quarter. NewEdge Advisors LLC now owns 1,867 shares of the company’s stock worth $37,000 after purchasing an additional 1,626 shares in the last quarter. Vision Financial Markets LLC purchased a new stake in Bloom Energy during the 1st quarter worth about $39,000. Finally, IFP Advisors Inc boosted its stake in Bloom Energy by 1,560.8% in the 2nd quarter. IFP Advisors Inc now owns 2,076 shares of the company’s stock worth $50,000 after purchasing an additional 1,951 shares during the period. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Bloom Energy Stock Down 18.6%

Shares of NYSE:BE opened at $103.13 on Friday. The stock has a market capitalization of $24.39 billion, a P/E ratio of 704.00, a price-to-earnings-growth ratio of 71.41 and a beta of 3.43. Bloom Energy Corporation has a 12-month low of $12.78 and a 12-month high of $147.86. The stock’s 50-day moving average price is $97.32 and its 200-day moving average price is $52.47. 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 (NYSE:BE) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.07. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The business had revenue of $508.69 million during the quarter, compared to analysts’ expectations of $425.18 million. During the same quarter last year, the business posted ($0.01) EPS. The business’s revenue was up 57.1% on a year-over-year basis. On average, equities analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BE. TD Cowen increased their price target on shares of Bloom Energy to $105.00 and gave the stock a “hold” rating in a report on Wednesday, October 29th. Roth Capital reaffirmed a “neutral” rating and set a $103.00 target price on shares of Bloom Energy in a report on Wednesday, October 29th. HSBC upgraded shares of Bloom Energy from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research note on Wednesday, October 29th. Jefferies Financial Group restated an “underperform” rating and set a $53.00 price target on shares of Bloom Energy in a research report on Friday, October 31st. Finally, Oppenheimer reiterated a “market perform” rating on shares of Bloom Energy in a research report on Wednesday, October 29th. One research analyst has 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 company’s stock. According to data from MarketBeat.com, Bloom Energy has an average rating of “Hold” and an average price target of $95.65.

Insider Activity

In related news, Director Mary K. Bush sold 36,000 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $142.82, for a total transaction of $5,141,520.00. Following the transaction, the director owned 133,524 shares in the company, valued at $19,069,897.68. The trade was a 21.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jim H. Snabe sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $143.04, for a total transaction of $2,860,800.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 332,065 shares of company stock worth $26,675,662. 3.60% of the stock is owned by company insiders.

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.