Thames Capital Management LLC Invests $18.09 Million in Bloom Energy Corporation $BE

Thames Capital Management LLC purchased a new stake in Bloom Energy Corporation (NYSE:BE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 213,901 shares of the company’s stock, valued at approximately $18,090,000. Bloom Energy accounts for about 2.6% of Thames Capital Management LLC’s investment portfolio, making the stock its 14th biggest holding. Thames Capital Management LLC owned about 0.09% of Bloom Energy at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC increased its position in shares of Bloom Energy by 2.1% during the second quarter. Geode Capital Management LLC now owns 4,756,516 shares of the company’s stock worth $113,790,000 after acquiring an additional 95,990 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake 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 valued at $49,127,000 after purchasing an additional 836,810 shares during the last quarter. Norges Bank bought a new stake in Bloom Energy during the 2nd quarter worth approximately $57,821,000. Man Group plc raised its stake in shares of Bloom Energy by 177.4% in the second quarter. Man Group plc now owns 2,392,915 shares of the company’s stock worth $57,239,000 after purchasing an additional 1,530,167 shares during the last quarter. Finally, Elemental Capital Partners LLC bought a new position in shares of Bloom Energy in the third quarter valued at approximately $101,720,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

Insider Buying and Selling

In other news, insider Aman Joshi sold 4,543 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $109.13, for a total value of $495,777.59. Following the completion of the transaction, the insider directly owned 219,818 shares of the company’s stock, valued at $23,988,738.34. This trade represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Maciej Kurzymski sold 13,105 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $144.09, for a total value of $1,888,299.45. Following the sale, the insider directly owned 93,269 shares in the company, valued at $13,439,130.21. This trade represents a 12.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 120,410 shares of company stock worth $16,557,185 in the last 90 days. 3.60% of the stock is currently owned by company insiders.

Bloom Energy Price Performance

Bloom Energy stock opened at $139.32 on Friday. The business’s 50 day simple moving average is $105.35 and its 200 day simple moving average is $78.45. Bloom Energy Corporation has a 12 month low of $15.15 and a 12 month high of $147.86. The company has a market cap of $32.95 billion, a price-to-earnings ratio of 741.44, a PEG ratio of 11.24 and a beta of 3.01. 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 issued its quarterly 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. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The firm had revenue of $519.05 million for the quarter, compared to analysts’ expectations of $425.18 million. During the same quarter in the prior year, the firm earned ($0.01) EPS. The business’s revenue for the quarter was up 57.1% compared to the same quarter last year. Sell-side analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BE. BMO Capital Markets set a $136.00 price target on Bloom Energy in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Bloom Energy in a report on Thursday, October 30th. TD Cowen boosted 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. Oppenheimer reiterated a “market perform” rating on shares of Bloom Energy in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Bloom Energy to $129.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $96.00.

About Bloom Energy

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.