KBC Group NV Purchases 27,519 Shares of Bloom Energy Corporation $BE

KBC Group NV boosted its position in shares of Bloom Energy Corporation (NYSE:BE) by 21.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 155,264 shares of the company’s stock after purchasing an additional 27,519 shares during the period. KBC Group NV owned about 0.07% of Bloom Energy worth $3,714,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tree Line Advisors Hong Kong Ltd. acquired a new stake in shares of Bloom Energy during the first quarter worth approximately $22,609,000. Driehaus Capital Management LLC bought a new stake in Bloom Energy during the 1st quarter worth approximately $21,066,000. Goldman Sachs Group Inc. grew its position in Bloom Energy by 50.3% during the 1st 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 last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in Bloom Energy by 29.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,611,925 shares of the company’s stock valued at $71,010,000 after purchasing an additional 821,814 shares in the last quarter. Finally, Nuveen LLC bought a new position in Bloom Energy in the 1st quarter valued at $13,476,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BE. Wells Fargo & Company increased their target price on Bloom Energy to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. Roth Capital reiterated a “neutral” rating and set a $103.00 price target on shares of Bloom Energy in a research report on Wednesday, October 29th. JPMorgan Chase & Co. increased their price objective on shares of Bloom Energy to $129.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Evercore ISI reaffirmed an “outperform” rating on shares of Bloom Energy in a research note on Monday, October 13th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Bloom Energy in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $95.65.

Bloom Energy Stock Performance

Shares of NYSE:BE opened at $110.87 on Friday. 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 1-year low of $15.15 and a 1-year high of $147.86. The stock has a market capitalization of $26.22 billion, a P/E ratio of 621.61, a P/E/G ratio of 63.05 and a beta of 3.43. The business has a 50-day moving average price of $98.40 and a two-hundred day moving average price of $53.34.

Bloom Energy (NYSE:BE) last issued its earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.07. The company had revenue of $508.69 million for the quarter, compared to analyst estimates of $425.18 million. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The company’s revenue for the quarter was up 57.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.01) EPS. Equities analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insider Activity at Bloom Energy

In other news, insider Satish Chitoori sold 400 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $71.16, for a total value of $28,464.00. Following the transaction, the insider owned 231,965 shares of the company’s stock, valued at $16,506,629.40. This represents a 0.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary K. Bush sold 36,000 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $142.82, for a total value of $5,141,520.00. Following the completion of the sale, the director owned 133,524 shares of the company’s stock, valued at $19,069,897.68. This represents a 21.24% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 332,065 shares of company stock worth $26,675,662. 3.60% of the stock is owned by company insiders.

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.