Eleva Capital SAS Acquires New Position in Bloom Energy Corporation $BE

Eleva Capital SAS acquired a new stake in Bloom Energy Corporation (NYSE:BE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 40,984 shares of the company’s stock, valued at approximately $980,000. Bloom Energy accounts for about 0.2% of Eleva Capital SAS’s investment portfolio, making the stock its 26th biggest position.

Other hedge funds have also recently modified their holdings of the company. Banque Transatlantique SA grew its holdings in shares of Bloom Energy by 227.6% in the first quarter. Banque Transatlantique SA now owns 1,671 shares of the company’s stock valued at $30,000 after purchasing an additional 1,161 shares during the period. Harbour Investments Inc. grew its holdings in shares of Bloom Energy by 2,160.0% in the first quarter. Harbour Investments Inc. now owns 1,582 shares of the company’s stock valued at $31,000 after purchasing an additional 1,512 shares during the period. NewEdge Advisors LLC grew its holdings in shares of Bloom Energy by 674.7% in the first quarter. NewEdge Advisors LLC now owns 1,867 shares of the company’s stock valued at $37,000 after purchasing an additional 1,626 shares during the period. Vision Financial Markets LLC purchased a new stake in shares of Bloom Energy in the first quarter valued at about $39,000. Finally, IFP Advisors Inc grew its holdings in shares of Bloom Energy by 1,560.8% in the second quarter. IFP Advisors Inc now owns 2,076 shares of the company’s stock valued at $50,000 after purchasing an additional 1,951 shares during the period. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Wall Street Analysts Forecast Growth

BE has been the subject of a number of analyst reports. Mizuho set a $89.00 price objective on shares of Bloom Energy in a report on Wednesday. TD Cowen increased their target price on shares of Bloom Energy to $105.00 and gave the stock a “hold” rating in a research note on Wednesday. Oppenheimer reaffirmed a “market perform” rating on shares of Bloom Energy in a research note on Wednesday. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $123.00 target price on shares of Bloom Energy in a research note on Monday, October 20th. Finally, Morgan Stanley increased their target price on shares of Bloom Energy to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday. Three research analysts have 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 data from MarketBeat.com, Bloom Energy has an average rating of “Moderate Buy” and a consensus target price of $95.65.

Insider Buying and Selling at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 25,000 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $52.00, for a total transaction of $1,300,000.00. Following the sale, the insider owned 225,949 shares of the company’s stock, valued at approximately $11,749,348. This represents a 9.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Maciej Kurzymski sold 2,474 shares of the stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $70.47, for a total transaction of $174,342.78. Following the sale, the insider directly owned 106,374 shares in the company, valued at $7,496,175.78. This represents a 2.27% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 301,193 shares of company stock valued at $14,893,710. Corporate insiders own 3.60% of the company’s stock.

Bloom Energy Stock Up 3.6%

Shares of BE opened at $132.51 on Friday. The stock has a market capitalization of $31.01 billion, a PE ratio of 734.22, a P/E/G ratio of 235.83 and a beta of 3.48. Bloom Energy Corporation has a 1 year low of $9.59 and a 1 year high of $144.20. The company has a debt-to-equity ratio of 1.98, a quick ratio of 3.21 and a current ratio of 4.40. The company’s 50-day simple moving average is $83.10 and its 200-day simple moving average is $45.55.

Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.07. The business had revenue of $519.05 million for the quarter, compared to analysts’ expectations of $425.18 million. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The business’s quarterly revenue was up 57.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) earnings per share. Analysts forecast that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

About Bloom Energy

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.