Ritholtz Wealth Management Takes Position in Bloom Energy Corporation $BE

Ritholtz Wealth Management acquired a new position in shares of Bloom Energy Corporation (NYSE:BE) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,678 shares of the company’s stock, valued at approximately $480,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. N.E.W. Advisory Services LLC acquired a new stake in shares of Bloom Energy during the third quarter worth about $32,000. Cranbrook Wealth Management LLC bought a new stake in Bloom Energy during the 3rd quarter worth approximately $39,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Bloom Energy during the 3rd quarter worth approximately $42,000. ORG Partners LLC acquired a new stake in Bloom Energy during the 3rd quarter worth approximately $49,000. Finally, CoreCap Advisors LLC bought a new position in Bloom Energy in the third quarter valued at approximately $102,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BE shares. Cowen reissued a “hold” rating on shares of Bloom Energy in a research report on Wednesday, October 29th. Wedbush set a $39.00 target price on Bloom Energy in a report on Tuesday, November 25th. Bank of America lifted their price target on Bloom Energy from $26.00 to $39.00 and gave the company an “underperform” rating in a research note on Tuesday, November 25th. Oppenheimer reaffirmed a “market perform” rating on shares of Bloom Energy in a research report on Wednesday, October 29th. Finally, BTIG Research lifted their target price on Bloom Energy to $145.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $96.91.

Bloom Energy Trading Up 1.0%

Bloom Energy stock opened at $150.99 on Wednesday. The company has a market cap of $35.71 billion, a price-to-earnings ratio of 830.56, a P/E/G ratio of 12.59 and a beta of 3.01. The firm has a 50-day moving average of $106.30 and a 200-day moving average of $81.89. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 2.88. Bloom Energy Corporation has a one year low of $15.15 and a one year high of $155.31.

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

Insider Buying and Selling

In other Bloom Energy news, insider Satish Chitoori sold 431 shares of the stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $88.12, for a total value of $37,979.72. Following the completion of the sale, the insider owned 229,449 shares in the company, valued at $20,219,045.88. This trade represents a 0.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jim H. Snabe sold 20,000 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $143.04, for a total transaction of $2,860,800.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 120,410 shares of company stock worth $16,557,185 in the last quarter. 3.50% of the stock is owned by company insiders.

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.