Itau Unibanco Holding S.A. Acquires New Stake in Bloom Energy Co. (NYSE:BE)

Itau Unibanco Holding S.A. acquired a new position in shares of Bloom Energy Co. (NYSE:BE) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 8,385 shares of the company’s stock, valued at approximately $103,000.

Several other hedge funds also recently made changes to their positions in BE. Norges Bank purchased a new stake in Bloom Energy in the 4th quarter valued at approximately $82,678,000. Electron Capital Partners LLC acquired a new stake in Bloom Energy in the fourth quarter valued at $27,796,000. Coatue Management LLC boosted its position in shares of Bloom Energy by 28.3% during the 4th quarter. Coatue Management LLC now owns 4,436,901 shares of the company’s stock worth $65,666,000 after purchasing an additional 978,053 shares in the last quarter. Artemis Investment Management LLP acquired a new position in shares of Bloom Energy during the 2nd quarter worth $7,502,000. Finally, Pier Capital LLC purchased a new position in shares of Bloom Energy in the 2nd quarter valued at about $5,602,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 2,094 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $14.53, for a total transaction of $30,425.82. Following the completion of the sale, the insider now directly owns 168,867 shares in the company, valued at $2,453,637.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.81% of the stock is owned by insiders.

Analysts Set New Price Targets

BE has been the topic of a number of research analyst reports. Piper Sandler boosted their price objective on shares of Bloom Energy from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. BTIG Research upped their price target on Bloom Energy from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Bank of America lifted their price objective on Bloom Energy from $8.00 to $9.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. Jefferies Financial Group lowered Bloom Energy from a “buy” rating to a “hold” rating and lowered their target price for the company from $15.00 to $11.00 in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. lifted their price target on Bloom Energy from $12.00 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Bloom Energy presently has an average rating of “Hold” and a consensus target price of $15.88.

Bloom Energy Stock Up 6.5 %

Shares of NYSE:BE opened at $10.91 on Monday. Bloom Energy Co. has a 12-month low of $8.41 and a 12-month high of $18.14. The stock’s 50-day moving average price is $11.94 and its two-hundred day moving average price is $12.15. The company has a current ratio of 4.65, a quick ratio of 3.33 and a debt-to-equity ratio of 3.43. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -8.08 and a beta of 2.69.

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