Bloom Energy Corporation $BE Shares Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS grew its stake in Bloom Energy Corporation (NYSE:BE) by 13.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,300 shares of the company’s stock after acquiring an additional 5,800 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Bloom Energy were worth $4,085,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Elevation Point Wealth Partners LLC acquired a new position in Bloom Energy in the 2nd quarter valued at about $36,000. NewEdge Advisors LLC raised its position 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 buying an additional 1,626 shares during the last quarter. Cranbrook Wealth Management LLC purchased a new position in shares of Bloom Energy during the third quarter valued at approximately $39,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Bloom Energy during the third quarter worth approximately $42,000. Finally, IFP Advisors Inc boosted its position in Bloom Energy by 1,560.8% during the second quarter. IFP Advisors Inc now owns 2,076 shares of the company’s stock worth $50,000 after acquiring an additional 1,951 shares during the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

Wall Street Analysts Forecast Growth

BE has been the topic of a number of recent analyst reports. Jefferies Financial Group reissued an “underperform” rating and set a $53.00 price target on shares of Bloom Energy in a research note on Friday, October 31st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $123.00 target price on shares of Bloom Energy in a research note on Monday, October 20th. BTIG Research increased their target price on Bloom Energy to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Bank of America raised their price target on Bloom Energy from $26.00 to $39.00 and gave the stock an “underperform” rating in a research note on Tuesday, November 25th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bloom Energy in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bloom Energy has an average rating of “Hold” and an average price target of $96.00.

Insider Activity

In related news, Director Jim H. Snabe sold 20,000 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $143.04, for a total value of $2,860,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Aman Joshi sold 4,543 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $109.13, for a total value of $495,777.59. Following the completion of the transaction, the insider directly owned 219,818 shares in the company, valued at $23,988,738.34. This trade represents a 2.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 120,410 shares of company stock worth $16,557,185 in the last quarter. Insiders own 3.60% of the company’s stock.

Bloom Energy Stock Up 9.9%

BE opened at $133.94 on Friday. Bloom Energy Corporation has a 1 year low of $15.15 and a 1 year high of $147.86. The firm has a 50 day moving average price of $105.35 and a 200 day moving average price of $75.25. The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.88 and a current ratio of 4.40. The company has a market cap of $31.68 billion, a PE ratio of 676.89, a price-to-earnings-growth ratio of 10.26 and a beta of 3.01.

Bloom Energy (NYSE:BE) last released its quarterly earnings data 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. 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 the consensus estimate of $425.18 million. During the same period in the previous year, the firm earned ($0.01) earnings per share. Bloom Energy’s revenue for the quarter was up 57.1% on a year-over-year basis. Sell-side analysts expect that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

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.