Bloom Energy Corporation $BE Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in shares of Bloom Energy Corporation (NYSE:BE) by 16.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 248,691 shares of the company’s stock after selling 48,760 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Bloom Energy were worth $5,949,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of BE. Cambridge Investment Research Advisors Inc. lifted its position in shares of Bloom Energy by 54.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 24,669 shares of the company’s stock valued at $485,000 after acquiring an additional 8,743 shares during the last quarter. Palumbo Wealth Management LLC lifted its position in shares of Bloom Energy by 36.2% during the 1st quarter. Palumbo Wealth Management LLC now owns 16,115 shares of the company’s stock valued at $317,000 after acquiring an additional 4,284 shares during the last quarter. 3Chopt Investment Partners LLC acquired a new stake in shares of Bloom Energy during the 1st quarter valued at $399,000. Teacher Retirement System of Texas lifted its position in shares of Bloom Energy by 662.4% during the 1st quarter. Teacher Retirement System of Texas now owns 73,518 shares of the company’s stock valued at $1,445,000 after acquiring an additional 63,875 shares during the last quarter. Finally, Hartline Investment Corp acquired a new stake in shares of Bloom Energy during the 1st quarter valued at $204,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Trading Down 3.2%

NYSE BE opened at $111.43 on Monday. Bloom Energy Corporation has a 1-year low of $9.02 and a 1-year high of $125.75. The company has a current ratio of 4.99, a quick ratio of 3.21 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $26.07 billion, a PE ratio of 2,786.45, a price-to-earnings-growth ratio of 176.86 and a beta of 3.48. The firm’s fifty day simple moving average is $69.22 and its 200-day simple moving average is $38.84.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.08. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The business had revenue of $401.24 million for the quarter, compared to the consensus estimate of $382.23 million. During the same period in the prior year, the business posted ($0.06) earnings per share. Bloom Energy’s revenue for the quarter was up 19.5% compared to the same quarter last year. Bloom Energy has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Bloom Energy in a research note on Wednesday, October 8th. Roth Capital boosted their target price on shares of Bloom Energy from $34.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, September 19th. Susquehanna boosted their target price on shares of Bloom Energy from $43.00 to $105.00 and gave the company a “positive” rating in a research note on Monday, October 13th. Hsbc Global Res downgraded shares of Bloom Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Finally, Jefferies Financial Group downgraded shares of Bloom Energy from a “hold” rating to an “underperform” rating and boosted their target price for the company from $24.00 to $31.00 in a research note on Wednesday, September 24th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $61.70.

Insiders Place Their Bets

In other news, insider Maciej Kurzymski sold 2,474 shares of the company’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $70.47, for a total value of $174,342.78. Following the transaction, the insider directly owned 106,374 shares of the company’s stock, valued at approximately $7,496,175.78. This represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kr Sridhar sold 60,000 shares of the company’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $48.97, for a total transaction of $2,938,200.00. Following the completion of the transaction, the chief executive officer directly owned 2,324,613 shares in the company, valued at $113,836,298.61. This trade represents a 2.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 301,193 shares of company stock valued at $14,893,710 in the last three months. Company insiders own 3.50% of the company’s stock.

Bloom Energy Profile

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.