Bloom Energy Corporation $BE Position Raised by Gilliland Jeter Wealth Management LLC

Gilliland Jeter Wealth Management LLC lifted its holdings in shares of Bloom Energy Corporation (NYSE:BE) by 32.9% during the third quarter, HoldingsChannel reports. The firm owned 11,565 shares of the company’s stock after purchasing an additional 2,865 shares during the quarter. Gilliland Jeter Wealth Management LLC’s holdings in Bloom Energy were worth $3,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in BE. Jennison Associates LLC increased its holdings in Bloom Energy by 20,074.4% during the first quarter. Jennison Associates LLC now owns 2,687,029 shares of the company’s stock worth $364,066,000 after buying an additional 2,673,710 shares during the last quarter. Bank of America Corp DE raised its position in Bloom Energy by 6.1% in the first quarter. Bank of America Corp DE now owns 2,211,880 shares of the company’s stock worth $299,688,000 after acquiring an additional 126,649 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Bloom Energy by 78.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,327,549 shares of the company’s stock valued at $401,849,000 after acquiring an additional 583,135 shares during the last quarter. Elemental Capital Partners LLC boosted its stake in Bloom Energy by 2.5% in the third quarter. Elemental Capital Partners LLC now owns 1,039,031 shares of the company’s stock valued at $287,791,000 after acquiring an additional 25,625 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Bloom Energy in the second quarter valued at about $296,413,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, insider Shawn Soderberg sold 2,870 shares of Bloom Energy stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $270.07, for a total transaction of $775,100.90. Following the sale, the insider directly owned 126,500 shares of the company’s stock, valued at approximately $34,163,855. The trade was a 2.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Satish Chitoori sold 2,870 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $270.06, for a total value of $775,072.20. Following the completion of the transaction, the insider owned 202,494 shares of the company’s stock, valued at approximately $54,685,529.64. The trade was a 1.40% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 89,698 shares of company stock worth $21,780,758. Insiders own 3.00% of the company’s stock.

Key Headlines Impacting Bloom Energy

Here are the key news stories impacting Bloom Energy this week:

• Positive Sentiment: Bloom Energy’s addition to the S&P 500 in September increases its visibility and can create demand from index-tracking funds. Analysts also see substantial long-term opportunity as data centers and artificial-intelligence infrastructure require reliable power. Bloom Energy Just Joined the S&P 500. Here’s What History Says Happens Next.
• Positive Sentiment: A comparison with Plug Power favors BE on earnings growth, profitability and liquidity, supporting the view that Bloom is one of the stronger companies in the fuel-cell sector. Bloom Energy or Plug Power: Which Offers Better Long-Term Upside Now?
• Positive Sentiment: Recent coverage continues to highlight Bloom’s record quarter and explosive growth potential, while a recent analyst upgrade provided additional support for the stock’s investment case. Bloom Energy stock faces cash-flow test after record quarter

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Roth Capital set a $230.00 price target on Bloom Energy in a research note on Friday, October 23rd. BMO Capital Markets reiterated an “outperform” rating and issued a $260.00 target price on shares of Bloom Energy in a research note on Wednesday, October 21st. JPMorgan Chase & Co. cut their price target on shares of Bloom Energy from $314.00 to $292.00 and set an “overweight” rating for the company in a report on Friday, October 23rd. BTIG Research reduced their price target on shares of Bloom Energy from $295.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, October 23rd. Finally, TD Cowen raised shares of Bloom Energy to a “hold” rating in a research note on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $264.33.

Bloom Energy Trading Down 8.9%

BE opened at $202.46 on Friday. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.74 and a quick ratio of 3.08. Bloom Energy Corporation has a one year low of $75.70 and a one year high of $351.28. The firm has a market capitalization of $59.86 billion, a price-to-earnings ratio of 124.21, a PEG ratio of 2.24 and a beta of 3.77. The business has a 50 day simple moving average of $248.16 and a two-hundred day simple moving average of $219.80.

Bloom Energy (NYSE:BE) last announced its earnings results on Thursday, October 22nd. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.25. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.07 billion. Bloom Energy had a return on equity of 45.29% and a net margin of 13.53%. The firm’s revenue for the quarter was up 138.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 earnings per share. Analysts predict that Bloom Energy Corporation will post 2.61 EPS for the current year.

Bloom Energy Company Profile

Bloom Energy Corporation develops and manufactures energy systems designed to generate electricity on-site. Its primary product is the Bloom Energy Server, a solid oxide fuel cell platform that converts fuel into electricity through an electrochemical process rather than combustion. The systems are used by businesses, utilities, data centers and other organizations seeking reliable, distributed power.

The company also develops electrolyzers based on its solid oxide technology. These systems are designed to produce hydrogen from electricity and water and support applications related to industrial operations, energy storage and the emerging hydrogen economy.