Sovran Advisors LLC Makes New Investment in Bloom Energy Corporation $BE

Sovran Advisors LLC acquired a new stake in Bloom Energy Corporation (NYSE:BE) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 6,669 shares of the company’s stock, valued at approximately $564,000.

Other hedge funds also recently made changes to their positions in the company. N.E.W. Advisory Services LLC purchased a new stake in Bloom Energy during the third quarter worth about $32,000. Parkside Financial Bank & Trust grew its position in shares of Bloom Energy by 250.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock valued at $33,000 after acquiring an additional 281 shares during the period. Cranbrook Wealth Management LLC purchased a new stake in shares of Bloom Energy during the 3rd quarter worth approximately $39,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Bloom Energy in the third quarter valued at approximately $42,000. Finally, ORG Partners LLC purchased a new position in Bloom Energy in the third quarter valued at approximately $49,000. 77.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BE. BMO Capital Markets set a $136.00 target price on Bloom Energy in a research note on Wednesday, October 29th. HSBC upgraded shares of Bloom Energy from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research note on Wednesday, October 29th. JPMorgan Chase & Co. lifted their price target on Bloom Energy to $129.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Hsbc Global Res raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 29th. Finally, Mizuho set a $89.00 target price on 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, ten have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $103.14.

Bloom Energy Stock Up 8.9%

NYSE BE opened at $151.99 on Wednesday. The stock’s 50-day moving average price is $109.89 and its 200-day moving average price is $86.14. The company has a market capitalization of $35.95 billion, a P/E ratio of 775.67, a price-to-earnings-growth ratio of 11.76 and a beta of 3.01. Bloom Energy Corporation has a 52 week low of $15.15 and a 52 week high of $155.87. The company has a quick ratio of 2.88, a current ratio of 4.40 and a debt-to-equity ratio of 1.98.

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

Insiders Place Their Bets

In related news, insider Aman Joshi sold 4,543 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $109.13, for a total transaction of $495,777.59. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Maciej Kurzymski sold 3,264 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $86.48, for a total value of $282,270.72. Following the sale, the insider owned 90,005 shares of the company’s stock, valued at approximately $7,783,632.40. This represents a 3.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 120,410 shares of company stock worth $16,557,185. 3.50% of the stock is currently owned by company insiders.

Bloom Energy Company 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.