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 10.65% valued currently at $353.04 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.
Currently, there are 224.05M common shares owned by the public and among those 196.20M shares have been available to trade.
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Insiders at the company have transacted a total of 95 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 58 of these insider trades were purchases, accounting for 28,363,037 shares. Insider sales of the common stock occurred on 37 occasions, with total insider shares sold totaling 528,315 shares.
The top 3 mutual fund holders in Bloom Energy Corp are Columbia Seligman Technology & In, Vanguard Total Stock Market ETF, and Government Pension Fund – Global. Columbia Seligman Technology & In owns 20.52 million shares of the company’s stock, all valued at over $303.65 million. The company bought an additional 1.65 million shares recently to bring their total holdings to about 9.16% of the shares outstanding. Vanguard Total Stock Market ETF bought 6417.0 shares to see its total holdings expand to 6.4 million shares valued at over $94.73 million and representing 2.86% of the shares outstanding. Government Pension Fund – Global bought 1.99 million shares to bring its total holdings to over 5.38 million shares at a value of $79.59 million. Government Pension Fund – Global now owns shares totaling to 2.40% of the shares outstanding.
The company’s stock has a 5-day price change of -1.33% and 9.58% over the past three months. BE shares are trading -19.59% year to date (YTD), with the 12-month market performance down to -51.96% 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 5.06 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 -8.27%, -11.83%, and -17.78% respectively.
Institutional ownership of Bloom Energy Corp (NYSE: BE) shares accounts for 74.44% of the company’s 224.05M shares outstanding. Mutual fund holders own 24.67%, while other institutional holders and individual stakeholders account for 52.01% and 23.14% respectively.
It has a market capitalization of $2.67B and a beta (3y monthly) value of 2.89. 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 5.66% over the week and 5.16% over the month.
Analysts forecast that Bloom Energy Corp (BE) will achieve an EPS of $0.11 for the current quarter, -$0.05 for the next quarter and $0.23 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.15 while analysts give the company a high EPS estimate of $0.52. Comparatively, EPS for the current quarter was $0.27 a year ago. Earnings per share for the fiscal year are expected to increase by 70.66%, and 338.31% over the next financial year.
Looking at the support for the BE, a number of firms have released research notes about the stock. BofA Securities stated their Underperform rating for the stock in a research note on Jan-30-24, with the firm’s price target at $16-$10.
