Columbia Management Investment Ad recently announced the acquisition of new stake in Bloom Energy Corp (NYSE:BE). The institutional investor has increased its shareholding in the Industrials company by 5.07% to 23.85 million shares with purchase of 1.15 million shares. This fresh investment now brings its stake to 10.66% valued currently at $248.09 million. In addition, The Vanguard Group, Inc. raised its holdings by 1.62 million to 18.66 million shares. And BlackRock Fund Advisors has lifted its position by 1.19% or 0.15 million shares – to 12.65 million shares.
With over 4.01 million Bloom Energy Corp (BE) shares trading Tuesday and a closing price of $14.91 on the day, the dollar volume was approximately $59.8 million. The shares have shown a negative half year performance of -1.39% and its price on 12/05/23 lost nearly -3.93%. Currently, there are 224.05M common shares owned by the public and among those 196.19M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 24 analysts who have offered their price forecasts for BE have a consensus price objective of $21.20. The analysts have set the share’s price value over the next 12 months at a high of $32.00 and a low of $10.00. The average price target is 29.67% above its recent price level and a downside to the estimated low will see the stock lose -49.1% over that period. But an upside of 53.41% will see the stock hit the forecast high price target while median target price for the stock is $20.00.
Insiders at the company have transacted a total of 112 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 68 of these insider trades were purchases, accounting for 38,527,449 shares. Insider sales of the common stock occurred on 44 occasions, with total insider shares sold totaling 609,132 shares.
The top 3 mutual fund holders in Bloom Energy Corp are Columbia Seligman Technology & In, Vanguard Total Stock Market ETF, and iShares II Plc – Global Clean Ene. Columbia Seligman Technology & In owns 15.99 million shares of the company’s stock, all valued at over $166.32 million. The company bought an additional 0.61 million shares recently to bring their total holdings to about 7.14% of the shares outstanding. Vanguard Total Stock Market ETF bought 14282.0 shares to see its total holdings expand to 6.38 million shares valued at over $66.4 million and representing 2.85% of the shares outstanding. iShares II Plc – Global Clean Ene sold 17164.0 shares to bring its total holdings to over 5.55 million shares at a value of $57.67 million. iShares II Plc – Global Clean Ene now owns shares totaling to 2.48% of the shares outstanding.
Shares of Bloom Energy Corp (NYSE: BE) opened at $15.27, down -$0.25 from a prior closing price of $15.52. However, the script later moved the day high at 15.27, down -3.93%. The company’s stock has a 5-day price change of 10.04% and -1.26% over the past three months. BE shares are trading -22.02% year to date (YTD), with the 12-month market performance down to -32.17% lower. It has a 12-month low price of $9.51 and touched a high of $26.55 over the same period. BE has an average intraday trading volume of 4.94 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 19.20%, 24.69%, and -4.72% respectively.
Institutional ownership of Bloom Energy Corp (NYSE: BE) shares accounts for 74.37% of the company’s 224.05M shares outstanding. Mutual fund holders own 25.12%, while other institutional holders and individual stakeholders account for 49.97% and 24.68% respectively.
It has a market capitalization of $3.34B and a beta (3y monthly) value of 2.81. The earnings-per-share (ttm) stands at -$1.70. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.62% over the week and 6.17% over the month.
Analysts forecast that Bloom Energy Corp (BE) will achieve an EPS of $Berkshire Hathaway Inc. New for the current quarter, $355.03 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $General Electric Company while analysts give the company a high EPS estimate of $Beyond Meat, Inc.. Comparatively, EPS for the current quarter was $BlackBerry Limited a year ago. Earnings per share for the fiscal year are expected to increase by 65.67%, and 394.38% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 24 brokerage firm advisors rate Bloom Energy Corp (BE) as a “Strong Buy” at a consensus score of 1.88. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 9 of the 24 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the BE, a number of firms have released research notes about the stock. CL King stated their Buy rating for the stock in a research note on November 17, 2023, with the firm’s price target at $15.
