International Assets Investment Management LLC Boosts Stake in Bloom Energy Co. (NYSE:BE)

International Assets Investment Management LLC lifted its holdings in shares of Bloom Energy Co. (NYSE:BE - Free Report) by 1,490.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,328 shares of the company's stock after purchasing an additional 173,678 shares during the period. International Assets Investment Management LLC owned 0.08% of Bloom Energy worth $19,570,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. BNP Paribas bought a new position in Bloom Energy in the first quarter worth approximately $38,000. ORG Partners LLC purchased a new stake in shares of Bloom Energy in the second quarter worth approximately $40,000. Quest Partners LLC raised its stake in shares of Bloom Energy by 2,780.0% in the second quarter. Quest Partners LLC now owns 3,600 shares of the company's stock worth $44,000 after purchasing an additional 3,475 shares during the last quarter. Gilliland Jeter Wealth Management LLC purchased a new stake in shares of Bloom Energy in the second quarter worth approximately $53,000. Finally, Mather Group LLC. purchased a new stake in shares of Bloom Energy in the second quarter worth approximately $66,000. Institutional investors own 77.04% of the company's stock.

Bloom Energy Stock Performance

NYSE:BE traded down $0.04 during trading hours on Wednesday, reaching $10.10. The stock had a trading volume of 8,571,776 shares, compared to its average volume of 5,813,710. The company has a debt-to-equity ratio of 3.43, a quick ratio of 3.33 and a current ratio of 4.65. The stock has a 50 day simple moving average of $10.56 and a 200 day simple moving average of $12.07. Bloom Energy Co. has a 12-month low of $8.41 and a 12-month high of $18.14. The stock has a market cap of $2.30 billion, a P/E ratio of -7.32 and a beta of 2.69.

Bloom Energy (NYSE:BE - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.06). Bloom Energy had a negative return on equity of 11.90% and a negative net margin of 21.37%. The business had revenue of $335.80 million during the quarter, compared to the consensus estimate of $307.73 million. During the same period last year, the business posted ($0.32) earnings per share. The business's revenue for the quarter was up 11.5% on a year-over-year basis. On average, research analysts forecast that Bloom Energy Co. will post -0.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BE. Bank of America increased their price objective on Bloom Energy from $8.00 to $9.00 and gave the stock an "underperform" rating in a research note on Wednesday, July 17th. Piper Sandler reissued a "neutral" rating and issued a $10.00 price objective (down from $11.00) on shares of Bloom Energy in a research note on Tuesday. UBS Group lowered their price objective on Bloom Energy from $25.00 to $23.00 and set a "buy" rating for the company in a research note on Thursday, August 15th. JPMorgan Chase & Co. increased their price objective on Bloom Energy from $12.00 to $14.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 16th. Finally, Truist Financial decreased their price target on Bloom Energy from $13.00 to $12.00 and set a "hold" rating for the company in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $15.39.

Bloom Energy Company Profile

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.