Pinnacle Associates Ltd. Lowers Stake in Bloom Energy Corporation $BE

Pinnacle Associates Ltd. lessened its stake in Bloom Energy Corporation (NYSE:BE) by 23.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 332,315 shares of the company’s stock after selling 102,402 shares during the period. Pinnacle Associates Ltd. owned about 0.14% of Bloom Energy worth $28,104,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. purchased a new stake in shares of Bloom Energy in the 2nd quarter valued at $108,000. Meridian Wealth Management LLC acquired a new position in Bloom Energy during the 3rd quarter worth about $553,000. Creekmur Asset Management LLC purchased a new position in Bloom Energy during the 3rd quarter valued at about $1,825,000. Udine Wealth Management Inc. boosted its holdings in Bloom Energy by 27.8% during the 3rd quarter. Udine Wealth Management Inc. now owns 62,967 shares of the company’s stock valued at $5,325,000 after acquiring an additional 13,684 shares during the period. Finally, Straight Path Wealth Management acquired a new position in Bloom Energy in the 3rd quarter valued at about $1,099,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Bloom Energy Stock Performance

Shares of BE opened at $135.80 on Monday. Bloom Energy Corporation has a 1 year low of $15.15 and a 1 year high of $180.90. The stock has a market capitalization of $38.10 billion, a PE ratio of -357.37, a PEG ratio of 5.52 and a beta of 3.11. The company has a debt-to-equity ratio of 3.54, a quick ratio of 4.95 and a current ratio of 5.98. The stock has a 50-day simple moving average of $141.26 and a 200-day simple moving average of $109.58.

Bloom Energy (NYSE:BE) last issued its earnings results on Thursday, February 5th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.20. Bloom Energy had a negative net margin of 4.37% and a positive return on equity of 7.88%. The firm had revenue of $777.68 million for the quarter, compared to analysts’ expectations of $647.59 million. During the same quarter last year, the company earned $0.43 earnings per share. The firm’s revenue was up 35.9% compared to the same quarter last year. Bloom Energy has set its FY 2026 guidance at 1.330-1.480 EPS. On average, analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BE shares. Bank of America set a $39.00 price target on shares of Bloom Energy in a research note on Tuesday, November 25th. Mizuho lifted their price objective on shares of Bloom Energy to $110.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Wells Fargo & Company upped their target price on shares of Bloom Energy to $130.00 and gave the stock an “equal weight” rating in a research note on Friday, February 6th. Jefferies Financial Group set a $102.00 target price on shares of Bloom Energy in a report on Tuesday, February 10th. Finally, TD Cowen raised their price target on shares of Bloom Energy to $160.00 and gave the company a “hold” rating in a research report on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Bloom Energy presently has a consensus rating of “Hold” and a consensus target price of $131.87.

Insider Buying and Selling at Bloom Energy

In other news, insider Aman Joshi sold 10,000 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $175.60, for a total value of $1,756,000.00. Following the transaction, the insider owned 210,465 shares in the company, valued at approximately $36,957,654. This represents a 4.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Satish Chitoori sold 1,521 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $139.37, for a total value of $211,981.77. Following the sale, the insider directly owned 230,017 shares in the company, valued at $32,057,469.29. This trade represents a 0.66% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 268,788 shares of company stock worth $45,575,889. 3.50% of the stock is currently 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.