Rakuten Securities Inc. Purchases 4,319 Shares of Bloom Energy Corporation $BE

Rakuten Securities Inc. lifted its position in Bloom Energy Corporation (NYSE:BE) by 2,786.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,474 shares of the company’s stock after purchasing an additional 4,319 shares during the quarter. Rakuten Securities Inc.’s holdings in Bloom Energy were worth $378,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. N.E.W. Advisory Services LLC purchased a new stake in Bloom Energy in the third quarter worth approximately $32,000. Elevation Point Wealth Partners LLC bought a new position in shares of Bloom Energy during the 2nd quarter valued at $36,000. NewEdge Advisors LLC raised its position in Bloom Energy by 674.7% in 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 during the period. Cranbrook Wealth Management LLC purchased a new position in Bloom Energy in the 3rd quarter worth $39,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in Bloom Energy in the third quarter worth $42,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BE. JPMorgan Chase & Co. lifted their price objective on 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 Thursday, January 8th. TD Cowen boosted their price objective on Bloom Energy to $105.00 and gave the company a “hold” rating in a research report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Bloom Energy in a research note on Thursday, October 30th. Finally, BMO Capital Markets set a $136.00 target price on shares of Bloom Energy in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Bloom Energy has an average rating of “Hold” and an average target price of $96.00.

Insider Activity at Bloom Energy

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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Aman Joshi sold 4,543 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $109.13, for a total value of $495,777.59. Following the sale, the insider directly owned 219,818 shares in the company, valued at approximately $23,988,738.34. This represents a 2.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 120,410 shares of company stock valued at $16,557,185 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Bloom Energy Price Performance

Shares of NYSE BE opened at $133.31 on Thursday. Bloom Energy Corporation has a 1 year low of $15.15 and a 1 year high of $147.86. The company’s 50-day moving average is $105.31 and its 200 day moving average is $78.02. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 2.88. The stock has a market capitalization of $31.53 billion, a P/E ratio of 760.39, a P/E/G ratio of 11.77 and a beta of 3.01.

Bloom Energy (NYSE:BE) last released its earnings results on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. The company had revenue of $519.05 million during the quarter, compared to analysts’ expectations of $425.18 million. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The firm’s revenue for the quarter was up 57.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.01) EPS. On average, sell-side analysts expect that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Bloom Energy Profile

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.