Strs Ohio Increases Position in Bloom Energy Corporation $BE

Strs Ohio increased its holdings in Bloom Energy Corporation (NYSE:BE) by 83.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,000 shares of the company’s stock after acquiring an additional 15,000 shares during the quarter. Strs Ohio’s holdings in Bloom Energy were worth $2,791,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the business. Geode Capital Management LLC raised its position in shares of Bloom Energy by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 4,756,516 shares of the company’s stock valued at $113,790,000 after purchasing an additional 95,990 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Bloom Energy by 50.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company’s stock worth $49,127,000 after buying an additional 836,810 shares during the last quarter. Norges Bank acquired a new stake in Bloom Energy in the second quarter valued at $57,821,000. Man Group plc boosted its stake in Bloom Energy by 177.4% during the 2nd quarter. Man Group plc now owns 2,392,915 shares of the company’s stock valued at $57,239,000 after acquiring an additional 1,530,167 shares during the last quarter. Finally, Elemental Capital Partners LLC acquired a new position in Bloom Energy during the 3rd quarter worth $101,720,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Trading Down 4.0%

Shares of NYSE BE opened at $139.07 on Tuesday. Bloom Energy Corporation has a 12-month low of $15.15 and a 12-month high of $155.87. The company has a market cap of $32.89 billion, a price-to-earnings ratio of 804.94, a price-to-earnings-growth ratio of 12.20 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. The stock’s 50 day simple moving average is $108.94 and its 200 day simple moving average is $85.25.

Bloom Energy (NYSE:BE) last issued its earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.07. The firm had revenue of $519.05 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the company earned ($0.01) earnings per share. Equities research analysts expect that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insiders Place Their Bets

In related news, insider Satish Chitoori sold 431 shares of Bloom Energy stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $88.12, for a total value of $37,979.72. Following the sale, the insider directly owned 229,449 shares in the company, valued at $20,219,045.88. This trade represents a 0.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Aman Joshi sold 4,543 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $109.13, for a total transaction of $495,777.59. Following the completion of the transaction, the insider owned 219,818 shares of the company’s stock, valued at approximately $23,988,738.34. This trade represents a 2.02% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 120,410 shares of company stock worth $16,557,185. 3.50% of the stock is owned by company insiders.

Analyst Ratings Changes

BE has been the topic of a number of recent analyst reports. Wedbush set a $39.00 target price on shares of Bloom Energy in a research note on Tuesday, November 25th. HSBC raised Bloom Energy from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Wednesday, October 29th. Daiwa Capital Markets set a $98.00 price target on Bloom Energy in a report on Tuesday, December 2nd. Wells Fargo & Company upped their price target on Bloom Energy to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. Finally, TD Cowen restated a “hold” rating 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 assigned a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Bloom Energy presently has an average rating of “Hold” and a consensus target price of $102.43.

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.