Mirae Asset Global Investments Co. Ltd. Purchases New Holdings in Bloom Energy Corporation $BE

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Bloom Energy Corporation (NYSE:BE) in the third quarter, Holdings Channel reports. The fund purchased 572,678 shares of the company’s stock, valued at approximately $158,620,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Montanova Capital LLC acquired a new position in Bloom Energy during the second quarter valued at $10,231,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Bloom Energy by 78.3% in the second 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 purchasing an additional 583,135 shares during the last quarter. Militia Capital Management LLC acquired a new stake in Bloom Energy during the 1st quarter worth about $813,000. Assenagon Asset Management S.A. grew its position in Bloom Energy by 3,398.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 239,877 shares of the company’s stock worth $72,611,000 after purchasing an additional 233,020 shares during the period. Finally, Zweig DiMenna Associates LLC purchased a new position in shares of Bloom Energy during 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 Price Performance

NYSE:BE opened at $202.46 on Friday. The company has a quick ratio of 3.08, a current ratio of 3.74 and a debt-to-equity ratio of 1.33. Bloom Energy Corporation has a 52 week low of $75.70 and a 52 week high of $351.28. The stock’s 50-day moving average price is $248.16 and its 200-day moving average price is $219.80. The stock has a market capitalization of $59.86 billion, a PE ratio of 124.21, a price-to-earnings-growth ratio of 2.05 and a beta of 3.77.

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

Bloom Energy News Roundup

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

• Positive Sentiment: Bloom Energy’s addition to the S&P 500 in September increases its visibility and can create demand from index-tracking funds. Analysts also see substantial long-term opportunity as data centers and artificial-intelligence infrastructure require reliable power. Bloom Energy Just Joined the S&P 500. Here’s What History Says Happens Next.
• Positive Sentiment: A comparison with Plug Power favors BE on earnings growth, profitability and liquidity, supporting the view that Bloom is one of the stronger companies in the fuel-cell sector. Bloom Energy or Plug Power: Which Offers Better Long-Term Upside Now?
• Positive Sentiment: Recent coverage continues to highlight Bloom’s record quarter and explosive growth potential, while a recent analyst upgrade provided additional support for the stock’s investment case. Bloom Energy stock faces cash-flow test after record quarter

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BE. Roth Capital set a $230.00 price objective on Bloom Energy in a report on Friday, October 23rd. Royal Bank Of Canada restated an “outperform” rating and issued a $335.00 target price on shares of Bloom Energy in a research note on Friday, October 23rd. Susquehanna raised their target price on Bloom Energy from $293.00 to $298.00 and gave the stock a “positive” rating in a report on Friday, July 10th. Truist Financial lifted their price target on Bloom Energy from $218.00 to $240.00 and gave the company a “hold” rating in a research report on Friday, October 16th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $260.00 price target on shares of Bloom Energy in a report on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Bloom Energy has a consensus rating of “Hold” and an average target price of $264.33.

Insider Buying and Selling

In other news, insider Satish Chitoori sold 2,870 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $270.06, for a total value of $775,072.20. Following the completion of the sale, the insider directly owned 202,494 shares in the company, valued at $54,685,529.64. The trade was a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Aman Joshi sold 8,437 shares of the company’s 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 transaction, the insider directly owned 147,092 shares of the company’s stock, valued at approximately $40,769,489.64. The trade was a 5.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 89,698 shares of company stock valued at $21,780,758 in the last 90 days. Corporate insiders own 3.00% of the company’s stock.

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.