Union Bancaire Privee UBP SA Takes $6.76 Million Position in Bloom Energy Corporation $BE

by · The Cerbat Gem

Union Bancaire Privee UBP SA purchased a new stake in Bloom Energy Corporation (NYSE:BE – Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 79,900 shares of the company’s stock, valued at approximately $6,757,000.

Other large investors have also made changes to their positions in the company. Bayforest Capital Ltd acquired a new stake in Bloom Energy during the first quarter worth $2,055,000. Nuveen LLC acquired a new position in shares of Bloom Energy during the first quarter worth approximately $13,476,000. Russell Investments Group Ltd. boosted its position in Bloom Energy by 128.6% in the 1st quarter. Russell Investments Group Ltd. now owns 58,840 shares of the company’s stock valued at $1,157,000 after buying an additional 33,097 shares during the last quarter. Raymond James Financial Inc. increased its position in Bloom Energy by 7.2% in the first quarter. Raymond James Financial Inc. now owns 947,522 shares of the company’s stock worth $18,628,000 after purchasing an additional 63,730 shares during the period. Finally, Algert Global LLC raised its stake in shares of Bloom Energy by 132.5% during the first quarter. Algert Global LLC now owns 107,260 shares of the company’s stock worth $2,109,000 after buying an additional 61,120 shares during the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Price Performance

Bloom Energy stock opened at $87.53 on Wednesday. Bloom Energy Corporation has a 12 month low of $15.15 and a 12 month high of $147.86. 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 company has a market capitalization of $20.70 billion, a PE ratio of 497.67, a P/E/G ratio of 56.58 and a beta of 3.00. The stock has a 50-day moving average price of $110.21 and a two-hundred day moving average price of $66.61.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BE. JPMorgan Chase & Co. increased their price target on shares of Bloom Energy to $129.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Susquehanna lifted their target price on Bloom Energy to $157.00 and gave the company a “positive” rating in a research report on Wednesday, October 29th. Morgan Stanley boosted their price target on shares of Bloom Energy to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. UBS Group raised their target price on shares of Bloom Energy to $115.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Finally, Wells Fargo & Company upped their price objective on Bloom Energy to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 21st. 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 given a Sell rating to the company. Based on data from MarketBeat, Bloom Energy presently has a consensus rating of “Hold” and an average price target of $93.77.

Check Out Our Latest Analysis on Bloom Energy

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Satish Chitoori sold 2,085 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $104.08, for a total value of $217,006.80. Following the transaction, the insider owned 229,880 shares of the company’s stock, valued at approximately $23,925,910.40. The trade was a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jim H. Snabe sold 20,000 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $143.04, for a total transaction of $2,860,800.00. The SEC filing for this sale provides additional information. Insiders sold a total of 116,715 shares of company stock valued at $16,236,935 over the last quarter. 3.50% of the stock is currently owned by company insiders.

About Bloom Energy

(Free Report)

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.

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