Nuveen Asset Management LLC grew its stake in Bloom Energy Corp (NYSE:BE) by 52.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,066,264 shares of the company’s stock after acquiring an additional 366,771 shares during the quarter. Nuveen Asset Management LLC owned 0.80% of Bloom Energy worth $11,601,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. FMR LLC bought a new position in shares of Bloom Energy during the first quarter valued at $11,026,000. First Trust Advisors LP bought a new position in shares of Bloom Energy during the first quarter valued at $262,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of Bloom Energy during the first quarter valued at $10,129,000. BlackRock Inc. lifted its holdings in shares of Bloom Energy by 0.3% during the first quarter. BlackRock Inc. now owns 3,259,814 shares of the company’s stock valued at $17,048,000 after purchasing an additional 11,060 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Bloom Energy by 10.2% during the first quarter. Rhumbline Advisers now owns 86,618 shares of the company’s stock valued at $453,000 after purchasing an additional 8,050 shares in the last quarter. 44.93% of the stock is currently owned by institutional investors and hedge funds.
Shares of BE opened at $17.97 on Thursday. The business has a 50-day simple moving average of $15.39 and a two-hundred day simple moving average of $10.63. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of -9.87 and a beta of 3.23. Bloom Energy Corp has a 52 week low of $2.44 and a 52 week high of $19.67.
Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Tuesday, July 28th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.21. The company had revenue of $187.86 million during the quarter, compared to analysts’ expectations of $168.93 million. Equities research analysts forecast that Bloom Energy Corp will post -1.23 EPS for the current year.
In related news, EVP Swaminathan Venkataraman sold 1,666 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $16.47, for a total transaction of $27,439.02. Following the completion of the sale, the executive vice president now owns 146,762 shares in the company, valued at $2,417,170.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christopher White sold 7,352 shares of the stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $15.01, for a total value of $110,353.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,014,094 shares of company stock valued at $15,647,987. Company insiders own 26.82% of the company’s stock.
A number of research analysts have recently issued reports on BE shares. Morgan Stanley upped their price target on Bloom Energy from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, September 18th. Oppenheimer reiterated a “hold” rating on shares of Bloom Energy in a research report on Friday, August 21st. ValuEngine cut Bloom Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Robert W. Baird reiterated a “hold” rating and set a $8.00 price objective on shares of Bloom Energy in a research report on Thursday, July 9th. Finally, Zacks Investment Research cut Bloom Energy from a “buy” rating to a “hold” rating in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Bloom Energy currently has an average rating of “Hold” and an average price target of $14.57.
Bloom Energy Profile
Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems for on-site power generation. The company offers Bloom Energy Server, a stationary power generation platform that converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion.
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