Vise Technologies Inc. Makes New Investment in Bloom Energy Corporation $BE

Vise Technologies Inc. acquired a new stake in shares of Bloom Energy Corporation (NYSE:BE) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,172 shares of the company’s stock, valued at approximately $1,709,000.

Other institutional investors have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Bloom Energy by 78.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,327,549 shares of the company’s stock worth $401,849,000 after purchasing an additional 583,135 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Bloom Energy by 20,074.4% during the first quarter. Jennison Associates LLC now owns 2,687,029 shares of the company’s stock valued at $364,066,000 after acquiring an additional 2,673,710 shares during the last quarter. Bank of America Corp DE raised its stake in Bloom Energy by 6.1% in the 1st quarter. Bank of America Corp DE now owns 2,211,880 shares of the company’s stock valued at $299,688,000 after purchasing an additional 126,649 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Bloom Energy in the 2nd quarter valued at $296,413,000. Finally, Elemental Capital Partners LLC lifted its holdings in Bloom Energy by 2.5% in the 3rd quarter. Elemental Capital Partners LLC now owns 1,039,031 shares of the company’s stock valued at $287,791,000 after purchasing an additional 25,625 shares in the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Trading Up 3.5%

Bloom Energy stock traded up $5.83 during midday trading on Friday, hitting $173.35. 23,195,131 shares of the stock were exchanged, compared to its average volume of 15,504,418. The company has a current ratio of 3.74, a quick ratio of 3.08 and a debt-to-equity ratio of 1.33. The stock’s 50-day simple moving average is $246.00 and its 200 day simple moving average is $220.98. Bloom Energy Corporation has a fifty-two week low of $75.70 and a fifty-two week high of $351.28. The stock has a market capitalization of $51.25 billion, a price-to-earnings ratio of 106.35, a PEG ratio of 1.98 and a beta of 3.63.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BE shares. Citigroup upped their target price on shares of Bloom Energy from $281.00 to $284.00 and gave the stock a “neutral” rating in a report on Thursday, October 29th. Evercore restated an “outperform” rating on shares of Bloom Energy in a research report on Monday, October 26th. Oppenheimer reaffirmed a “market perform” rating on shares of Bloom Energy in a research note on Friday, October 23rd. BTIG Research cut their price objective on shares of Bloom Energy from $295.00 to $250.00 and set a “buy” rating for the company in a report on Friday, October 23rd. Finally, Susquehanna boosted 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. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $263.05.

Key Headlines Impacting Bloom Energy

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

• Positive Sentiment: BE shares rebounded as fuel-cell stocks clawed back some post-election losses; a technical-trading report also noted the stock found support near $163. Fuel-cell stocks rebound
• Positive Sentiment: Bloom’s agreement with NTT DATA to deploy 900 megawatts of onsite power across data-center projects supports the company’s growth opportunity in power-hungry facilities. Recent quarterly results also beat estimates, and Bloom raised its full-year outlook. NTT DATA agreement Bloom Energy outlook
• Neutral Sentiment: Director Barbara Burger sold 2,333 shares for about $502,000, reducing her stake by roughly 6%; she still held 36,607 shares after the sale. Director share sale
• Negative Sentiment: Election-related fears about potential changes to data-center approvals and the pace of AI infrastructure investment recently pressured Bloom and other AI-power stocks. That concern remains a risk despite the NTT DATA contract. AI data-center concerns

Insider Activity at Bloom Energy

In other news, insider Aman Joshi sold 8,437 shares of the company’s stock in a transaction 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 owned 147,092 shares of the company’s stock, valued at $40,769,489.64. This represents a 5.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Chambers sold 8,828 shares of the company’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $203.43, for a total value of $1,795,880.04. Following the completion of the transaction, the director directly owned 199,505 shares in the company, valued at approximately $40,585,302.15. This trade represents a 4.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 85,859 shares of company stock valued at $20,994,650 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Bloom Energy Company Profile

Bloom Energy Corporation develops solid oxide fuel cell technology for on-site electricity generation and hydrogen production. Its Bloom Energy Server systems generate power near the point of use, helping businesses and institutions meet electricity needs and support resilient energy operations. The company also offers solid oxide electrolyzers designed to produce hydrogen.

Founded in 2001 by K.R. Sridhar, Bloom Energy is headquartered in San Jose, California. It serves customers in the United States and international markets, including countries in Asia.