Sovran Advisors LLC Takes Position in Bloom Energy Corporation $BE

Sovran Advisors LLC purchased a new position in Bloom Energy Corporation (NYSE:BE) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,669 shares of the company’s stock, valued at approximately $564,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BE. N.E.W. Advisory Services LLC purchased a new position in Bloom Energy in the 3rd quarter worth approximately $32,000. Parkside Financial Bank & Trust grew its holdings in shares of Bloom Energy by 250.9% in the third quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock valued at $33,000 after purchasing an additional 281 shares in the last quarter. Cranbrook Wealth Management LLC purchased a new stake in Bloom Energy during the 3rd quarter worth about $39,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Bloom Energy during the 3rd quarter worth $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 owned by hedge funds and other institutional investors.

Bloom Energy Stock Performance

Bloom Energy stock opened at $151.99 on Wednesday. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 2.88. The company has a fifty day moving average price of $109.89 and a two-hundred day moving average price of $86.14. The company has a market cap of $35.95 billion, a PE ratio of 775.67, a P/E/G ratio of 11.76 and a beta of 3.01. Bloom Energy Corporation has a 12 month low of $15.15 and a 12 month high of $155.87.

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

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,583 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $105.97, for a total value of $167,750.51. Following the transaction, the insider owned 221,633 shares in the company, valued at $23,486,449.01. The trade was a 0.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jim H. Snabe sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $143.04, for a total value of $2,860,800.00. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 120,410 shares of company stock worth $16,557,185. 3.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on BE shares. Wedbush set a $39.00 price target on shares of Bloom Energy in a research report on Tuesday, November 25th. JPMorgan Chase & Co. raised their price objective on shares of Bloom Energy to $129.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Jefferies Financial Group reaffirmed an “underperform” rating and set a $92.00 price target on shares of Bloom Energy in a research note on Monday. HSBC upgraded Bloom Energy from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Wednesday, October 29th. Finally, Royal Bank Of Canada set a $143.00 price objective on shares of Bloom Energy in a research report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $103.14.

Bloom Energy 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.