Kercheville Advisors LLC Purchases New Shares in Bloom Energy Corporation $BE

Kercheville Advisors LLC acquired a new position in Bloom Energy Corporation (NYSE:BE) during the third quarter, Holdings Channel.com reports. The firm acquired 30,200 shares of the company’s stock, valued at approximately $2,554,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC increased its position in shares of Bloom Energy by 3.3% during the third quarter. CWM LLC now owns 5,111 shares of the company’s stock worth $432,000 after acquiring an additional 162 shares during the last quarter. Prospera Financial Services Inc grew its stake in Bloom Energy by 0.3% during the 2nd quarter. Prospera Financial Services Inc now owns 95,532 shares of the company’s stock valued at $2,285,000 after purchasing an additional 313 shares in the last quarter. GAMMA Investing LLC grew its stake in Bloom Energy by 14.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,708 shares of the company’s stock valued at $229,000 after purchasing an additional 335 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in Bloom Energy by 2.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 20,917 shares of the company’s stock worth $500,000 after purchasing an additional 425 shares during the last quarter. Finally, Blair William & Co. IL raised its position in shares of Bloom Energy by 2.8% in the 2nd quarter. Blair William & Co. IL now owns 16,246 shares of the company’s stock valued at $389,000 after purchasing an additional 437 shares in the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 36,666 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $141.00, for a total transaction of $5,169,906.00. Following the completion of the transaction, the insider owned 225,949 shares of the company’s stock, valued at approximately $31,858,809. The trade was a 13.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Aman Joshi sold 4,543 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $109.13, for a total transaction of $495,777.59. Following the completion of the sale, the insider directly owned 219,818 shares in the company, valued at approximately $23,988,738.34. This trade represents a 2.02% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 120,410 shares of company stock worth $16,557,185. 3.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BE. Wells Fargo & Company raised their price target on shares of Bloom Energy to $95.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 21st. Oppenheimer reissued a “market perform” rating on shares of Bloom Energy in a report on Wednesday, October 29th. Roth Capital reissued a “neutral” rating and issued a $103.00 target price on shares of Bloom Energy in a research report on Wednesday, October 29th. Morgan Stanley increased their price target on shares of Bloom Energy to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, Zacks Research lowered Bloom Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Bloom Energy has a consensus rating of “Hold” and a consensus price target of $93.77.

Bloom Energy Price Performance

Shares of NYSE:BE opened at $98.34 on Monday. The company has a quick ratio of 2.88, a current ratio of 4.40 and a debt-to-equity ratio of 1.98. Bloom Energy Corporation has a fifty-two week low of $15.15 and a fifty-two week high of $147.86. The firm has a 50-day simple moving average of $106.23 and a 200 day simple moving average of $72.76. The company has a market cap of $23.26 billion, a PE ratio of 548.28, a P/E/G ratio of 8.31 and a beta of 3.01.

Bloom Energy (NYSE:BE) last issued its earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. The firm had revenue of $519.05 million for the quarter, compared to analysts’ expectations of $425.18 million. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. Bloom Energy’s revenue was up 57.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.01) earnings per share. On average, sell-side analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current year.

Bloom Energy Company Profile

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.